The resource estimate was independently undertaken by CSA Global and found the deposit had a total indicated and inferred mineral resource of 191 million tonnes at 99.6% silicon dioxide.
This includes an indicated resource of 19 million tonnes at 99.7% silica.
The resource estimate was based on aircore and hand auger drilling conducted by Ventnor as part of its due diligence during the March 2018 quarter, prior to acquiring the project in July.
Ventnor managing director Bruce Maluish said: “This maiden mineral resource estimate has confirmed our belief that the Muchea silica sand prospect is a world-class high-grade deposit, which can be processed to supply almost any grade sand for glassmaking in Asia.
“The company will move quickly into detailed engineering and mining studies to support mining proposals for forwarding to relevant government agencies to commence the approvals process.”
The area of the inferred mineral resource estimate is predominantly based on shallow hand auger results and has the potential to be deeper with a substantially larger mineral resource.
The company believes that the indicated mineral resource area is adequate for detailed mining studies and closed-spaced drilling can extend the area and tonnage for a potential ore reserve.
Metallurgical test work to date has confirmed the potential of a very high-grade product of over 99.9% silica with less than 100 ppm iron oxide.
A third round of test work with additional grinding is being finalised to determine the final circuit design to produce a high-quality feedstock for ultra-clear glass production.
Test work results are expected in the December quarter and will be followed by engineering studies.