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Heavy Minerals Limited (ASX:HVY)

ALERT: Price-sensitive ASX Announcement for HVY
Current share price for HVY : $0.420 -0.02 (-4.55%)+
Announcement
Release
9 Mar 2026 8:16AM
Price at Release
$0.440
Full Release
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Summary
Heavy Minerals Limited has announced a defined Exploration Target for the Kanmantoo Garnet Project in South Australia. The target ranges between 30Mt to 50Mt with a garnet grade between 17% and 25%, translating to approximately 5.1Mt to 12.5Mt of contained garnet. This includes both the Tailings Storage Facility (TSF) and fresh tailings from Hillgrove Resources' copper operations. The exploration target is conceptual due to insufficient exploration drilling, and its potential to convert into a Mineral Resource is uncertain. Heavy Minerals Limited is seeking project funding and aims to secure Distribution agreements after attending the AMPP conference in Houston, USA.
Key Points
  • Exploration Target defined for Kanmantoo Garnet Project.
  • Target ranges from 30Mt to 50Mt with 17% to 25% grade garnet.
  • Potential garnet contained estimated between 5.1Mt to 12.5Mt.
  • Includes materials from TSF and fresh tailings from Hillgrove copper operations.
  • Insufficient drilling and analysis to estimate Mineral Resource.
  • Company seeking project funding and distribution agreements.
  • Heavy Minerals Limited attending AMPP conference for potential deals.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.