APS - Allup Silica Limited**Allup Silica Limited will be listing tomorrow at 11:30am after raising $5m @ 20c through the boys and girls at CPS Capital who were kind enough to offer me a few, so yes I own some.Upon listing, APS will have 84m shares on issue to hand them an EV of $11m, the top 20 shareholders currently own over 66% of the company, so she's tight too like the MMA's last night.APS currently own 12 tenements which are prospective for high-quality silica sand and are located within reasonable trucking distances to selected Port locations, which is rather handy. High-grade silica sand contains a high concentration (typically over 98%) of silicon dioxide (SiO2), and is used for applications other than construction sands.Unlike construction sands, which are used because of their physical properties, high grade silica sands are used because of the combination of chemical and physical properties.Glassmaking silica sand is the main component in the manufacture of all types of standard and specialty glass.These tenements are located in different project areas within WA, APS' focus will be on the development of its Unicup project with continued exploration and updating of its minerals resource estimations to higher levels of JORC compliance.Allup's South-West Silica exploration projects sites are located approximately 300km south of Perth, the most eastern site is Unicup, with the western site called Antwalker/Pipeclay Tree.No large scale mining has occurred within the tenement areas, however, many other operating mining projects and primary industry are located within these regions, as a result, infrastructure has been well established for mining, agriculture and the community.APS' tenements are located on elevated sand plains and the residual laterite terrain of the Biranup Zone in the Proterozoic Albany-Fraser Orogen of South-Western AustraliaThese high grade, pure quartz silica sands are laid on low grade coal and lignite laid down in coastal swamps, the host stratigraphy is up to 64m in thickness and crop out at surface.The Unicup project encompasses three granted exploration licences, it currently has a mineral resource estimate of 73Mt @ 96.6& SiO2, 1.1% Al2O3, 0.41% Fe2O3, 0.47% TiO2 & 0.68& LOI, so there is plenty of high quality sand around.Allup's Antwalker project is located 26km from Manjimup, with the Pipeclay Tree project being 13km from Manjimup.A drill traverse by BHP.asx on the Antwalker tenement in 2000, showed a thick layer of transported sand up to 27m on a clay rich saprolite profile on basement rocks of medium grained feldspar-quartz-biotite gneiss.The sand cover seems to be more extensive than indicated on the smaller scale geological mappingThis drilling indicates the presence of deeper sand filled channels within the surficial depositsThe Antwalker project currently has an exploration target of a maximum 40Mt @ 99% silica.Silica sand exploration differs from typical metals exploration because the silica sand is generally found from at or near surface to depths no greater than 20m or 30m.Silica sand targets, first identified from within known geological regions, can sometimes be visually inspected at surface.Initial shallow sampling at depths no greater than 2m provide the primary guidance on the potential for silica sand specifications before beneficiation.Upon listing, APS proposes to continue its exploration and development program at the Unicup location while also progressing exploration on its 11 other tenements.Metallurgical and beneficiation analysis will also be required to identify the processed silica sand typical specifications after it has been processed.Allup also intends to assess new strategic acquisitions that may come to its attention following completion of the offer.
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