Andromeda Metals: Announces maiden ore reserve for Carey’s Well
- Andromeda Metals has announced a maiden ore reserve estimate for the Carey’s Well Deposit at the Poochera Halloysite-Kaolin Project
- Then the maiden ore reserve consists of 12.5 million tonnes of kaolinised granite containing 52 per cent material
- It is in the probable category and has derived from the measured and indicated categories which are in accordance with JORC 2012 guidelines
- This reserve supports a 26-year mine life at a rate of 500,000 tonnes per annum
- Andromeda will now focus on completing a definitive study and mining lease application, with aims to mine in early 2022
- Company shares are currently steady on the market and are trading for 5.1 cents each
