Western Yilgarn (ASX:WYX) has acquired the Cardea 3 Bauxite Project in Western Australia’s Darling Range for $25,000. This acquisition, finalized after vacuum drilling completion, includes an initial cash deposit and a subsequent payment exchanged for company shares. The Cardea 3 project is strategically located approximately 17.5km east of Western Yilgarn’s Julimar West Bauxite Project, which holds an estimated 168 million tonnes. The company aims to capitalize on the growing demand for direct shipping ore bauxite.
The company’s exploration efforts, involving 433 vacuum drillholes, have yielded promising results, with 139 drillholes showing available alumina exceeding 34.5% and an average of 3.14% reactive silica content. Non-executive Director Pedro Kastellorizos highlighted the project’s proximity to a multi-user railway as a key logistical advantage, particularly given current market conditions of high alumina and bauxite prices. The company plans further exploration targeting laterite and pisolitic gravels identified in a geological survey, to leverage the project’s potential for increasing bauxite tonnage and grade. The Darling Range’s geological composition, featuring granite and gneiss of the Yilgarn Craton, enhances bauxite enrichment.
