WBL Area
During the Miocene epoch, where exposed, the Thatuna granodiorite was subjected to intense weathering in a tropical or near tropical climate. This weathering caused much of the feldspar and some of the mica to be altered into clay minerals. Of particular interest is the weathering of the sodium feldspars into halloysitic to kaolinitic clays. These deposits are referred to as "residual deposits" as they have weathered in place or "primary clay." The depth limit of weathering may have initially been fairly consistent; however subsequent erosion has left a variable weathering profile with thickness roughly dependent on topography, with weathering exceeding 100 feet along ridges and less than 3 feet in some valleys.i-minerals has completed seven drill holes in an area referred to as the "WBL Pit Area" that was previously mined for primary clay. Preliminary analysis of this core indicates approximately 1.5 million tons of primary clay may occur on the northern limits of the WBL Pit and could be readily accessible by expanding the current pit. Outside of the immediate WBL Pit area, twelve additional holes were completed. All but one of these holes intersected significant thicknesses of primary clay, some of which had intercepts of over 100 feet. These twelve holes were widely spaced and represent significant acreage - as much as 1000 acres favorable for the kaolinite, halloysite, potassium feldspar and quartz bearing primary clay. Metallurgical work has provided a preliminary estimate of the concentrations of kaolinite (20% to 40%), halloysite (5% to 13%), potassium feldspar (10-20%) and quartz (15-40%). Halloysite analysis completed to date indicates i-mineral's halloysite has the lowest levels of trace elements and a high aspect ratio -- factors that make it very attractive for high value applications.
While additional drilling is necessary to confirm the initial potential of primary clay discovered in the last regional drill program, the volume of primary clay encountered in preliminary drilling is believed to have tonnage potential in excess of 50 million tons. Confirmation of this potential would make the Helmer-Bovill properties one of the largest untapped resources of halloysite in the world.
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