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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Altech Chemicals Limited    ATC   AU000000ATC9

ALTECH CHEMICALS LIMITED

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Altech Chemicals Ltd (ASX:ATC) Completes Drilling Campaign at Kerrigan Project

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01/13/2020 | 11:21pm EDT

Perth, Australia, Jan 14, 2020 - (ABN Newswire) - Altech Chemicals Limited (ASX:ATC) (HAM:A3Y) is pleased to announce that it has completed a drilling program at its 100% owned Kerrigan kaolin project in Western Australia.

The Kerrigan project is located 20kms south of the central wheat belt town of Hyden, Western Australia and covers an area of approximately 230km2. The drilling program consisted of 27 air core holes for a total of 765 metres. All holes were drilled vertically with average hole depth of 28 metres; samples were collected at one-metre intervals.

Whilst Altech's flagship Meckering kaolin deposit will provide feedstock for its Johor HPA plant, Kerrigan hosts a high quality kaolin deposit. The completed drilling program is expected to enable the Company to update the Kerrigan mineral resource estimate and assist it in determining the next steps for the project.

The Kerrigan project was initially identified as containing high quality kaolin in 1992 by Graphite Holdings Pty Ltd which subsequently drilled the project area, as did CRA Exploration Pty Ltd (CRAE). At Kerrigan, kaolin forms part of an unusually thick and well-developed weathering profile and is found under overburden of laterite and mottled clays, with overburden thickness ranging from 1 to 12m. Since 1995 the only significant exploration conducted at Kerrigan was the bulk sample and evaluation of ~6 tonnes of kaolin (from two test pits) and the processing of samples from the pits. Also, in 2011 the Company announced an initial JORC inferred kaolin mineral resource of 85Mt at an ISO brightness of 85.1% for Kerrigan (refer ASX Announcement dated 24 August 2011 for complete details).

The current drill program is expected to enable the Company to update the 2011 resource estimate in accordance with JORC (2012).

To view tables and figures, please visit:
https://abnnewswire.net/lnk/67JK0ZQ5


About Altech Chemicals Ltd:

Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.

Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.

Contact:

Corporate
Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com

Copyright (C) 2020 ABN Newswire. All rights reserved., source Press Releases English

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Capitalization 51,8 M
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NameTitle
Ignatius Kim-Seng Tan Managing Director & Director
Luke Frederick Atkins Non-Executive Chairman
Jingyuan Liu General Manager-Operations
Shane Raymond Volk Chief Financial Officer & Secretary
Daniel Lewis Tenardi Non-Executive Director