News: Minerals Corporation to focus on kaolin, scouts for opportunities

Minerals Corporation (ASX:MSC) is currently in ongoing discussions with the ASX and  expects that its securities will be reinstated for quotation in early August.

The company is resuming work on the Skardon Kaolin Project in Cape York Peninsula, Queensland, after terminating earlier this month its agreements regarding the acquisition of PRM Cloud Solutions.

Minerals Corporation is currently in the process of reviewing data from previous exploration programs with a view to develop the project further in conjunction with its joint venture partner, Gulf Alumina Limited.

Works previously undertaken include an air core drilling program, which was designed to test the potential for further kaolin outside of the known resource areas.

A total of seven holes for 116.5 metres were previously drilled at two areas within the tenement, and MSC is now analysing the results obtained.

Of the 15 samples previously selected for initial assay, including one composite sample, MSC has identified a number of samples which appear suitable for further brightness testing, mineralogy and particle size testing based on their colour and chemistry.

Together with these activities, MSC is also reviewing a number of investment opportunities.

Should MSC identify a suitable transaction with the potential to create value then it will present the opportunity for the approval of shareholders as and when appropriate.