Shares of VRX Silica Limited (ASX:VRX) are trading ~17 per cent higher at $0.230 (as at 11:40 AM AEST) following an update on Mining Lease status for Arrowsmith projects. VRX Silica has recently notified that it has been granted Mining Leases for both Arrowsmith North and Arrowsmith Central projects.
The combined Mining Lease granted areas encompass more than 3,600ha, which seems sufficient for more than 100 years of production. Arrowsmith North Mining Lease area contains Probable Ore Reserve of 204Mt @ 99.7% SiO2. While, Arrowsmith Central Mining Lease area contains Probable Ore Reserve of 18.7Mt @ 99.6% SiO2.