Within this resource is a high-grade indicated and inferred resource of 6.7 million tonnes at 24.6% fluorite (at a 10% fluorite cut-off grade).
King River’s shares closed circa 20.5% higher on Friday, at $0.047.
Acid grade fluorspar prices have recently increased
The company is planning to complete a scoping study into the feasibility of producing acid grade fluorspar from the Windsor fluorite deposit.
Acid grade fluorspar is a high-value product sold as a concentrate and used to manufacture hydrofluoric acid, fluorocarbon chemicals, foam blowing agents, refrigerants and for petroleum refining.
Acid grade fluorspar prices have increased recently to USD$480-520 per tonne for 97% fluorspar wet filtercake.
The company recently concluded a placement of shares to professional and sophisticated investors to raise $1.2 million.
King River is now fully funded to complete the current metallurgical test work and complete the concept and scoping study on the Speewah Project in Western Australia.
It is worth noting that the company’s recent tests have further improved the value of vanadium and titanium products that can be produced at Speewah.