by Greg Klein | September 1, 2015
In a co-operative drill program that began August 31, a miner and its customer hope to expand a British Columbia deposit of chalky geyserite, or aluminum silica. Electra Stone TSXV:ELT and Ash Grove Cement plan 24 holes of percussion drilling totalling around 700 metres over a five-day period on Electra’s Apple Bay quarry on northern Vancouver Island.
The crew will take samples every three metres to gather around 180 samples for analysis. Technical staff from both companies will take part.
Electra has provided Ash Grove, the United States’ sixth-largest cement manufacturer, with a continuous supply of aluminum silica since 2003. The product is used in cement as a binder and makes up about 20% of cement mix by weight. Electra anticipates this year’s aluminum silica sales to reach about 100,000 tonnes, a year-on-year increase of 60%.
After closing an oversubscribed private placement of $997,344 in late June, Electra began exploration on its northern B.C. nephrite jade properties. Work began on the company’s Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations.
Last week Electra shareholders approved a $2-million private placement from a single individual, which would create a new control person. The placement remains subject to final agreements and TSXV approval.