Industrial Minerals Ltd to advance exploration for High Purity Quartz (HPQ)

Industrial Minerals Ltd (ASX: $IND) has announced its intention to advance exploration for High Purity Quartz (HPQ) at its Pippingarra Quarry Project, located 30km south-east of Port Hedland, in the Pilbara region of Western Australia. The company has received full assay results from the late 2023 reverse circulation (RC) drill program, confirming the wide quartz zone and providing confidence to progress ongoing discussions and testwork with potential offtake partners.

Executive commentary on Pippingarra Quarry Project

After a long delay, we are very pleased to have the results back from our initial RC drilling program at the Pippingarra Quarry Project. The confirmation of the wide zones of High Purity Quartz and the subsequent ongoing interest from our network of potential offtake partners is very pleasing. Furthermore, the initial testwork confirming low impurity HPQ from a simple flowsheet validates our early interest in the HPQ potential of Pippingarra. While the RC drilling results have confirmed wide intersections of pegmatite to support historic results, the Li2O assays from our program have only returned narrow intersections. The Board is conscious of current lithium market conditions and will assess the wider exploration potential of its Pilbara tenement, while actively targeting near-term value for shareholders in pursuing supply to the growing HPQ market.

Summary of IND's Pippingarra Quarry Project announcement

Industrial Minerals Ltd (IND) is set to progress exploration for High Purity Quartz (HPQ) at its Pippingarra Quarry Project, following the receipt of full assay results from the late 2023 reverse circulation (RC) drill program. The company intends to plan a Phase 2 RC drilling program to further define and test quartz-bearing zones for HPQ applications. IND has also received positive initial chemical analysis results for HPQ samples, indicating low impurity levels and high purity quartz potential. The company is actively engaging with potential offtake partners and industry experts to assess and refine the testing process, demonstrating its commitment to advancing the exploration and development of high purity quartz at the Pippingarra Quarry Project. With ongoing discussions and planning underway for supplying larger raw quartz samples for HPQ assessment and testwork, IND aims to capitalize on the growing demand for high purity quartz in various applications, including solar PV, semiconductors, fibre optics, and electronics.