Minotaur Exploration (ASX: MEP) announced today that it has signed a binding Heads of Agreement with Andromeda Metals (ASX: ADN), according to which the latter may earn up to 75 per cent interest in Minotaur's kaolin-halloysite deposits in South Australia through the expenditure of $6 million over a period of up to 5 years.
According to Minotaur, the assets comprise three tenements containing several kaolin-halloysite deposits 130 kilometres east of Streaky Bay plus the Camel Lake tenement to the northwest where near-pure halloysite occurrences have been recorded.
The Norwood-based company said in a press release that on its kaolin deposits, particularly on the Carey's Well, bulk sampling and pilot plant testwork produced trial marketing samples of 'bright white' kaolin suitable for a range of conventional uses including high-end ceramics.
The miner also stated that, in addition to conventional 'platy' kaolin, the deposits include a significant proportion of halloysite, kaolin's nanotubular pseudomorph, which is being analyzed by researchers from the University of Adelaide, the University of South Australia and the University of Newcastle.
"Natural nanotubes have the potential to replace expensive[ly] manufactured carbon nanotubes in a wide variety of new technology applications including strengthening filler applications, carbon and hydrogen adsorption, and energy storage. High purity alumina is a complementary new age material crucial in the manufacture of many modern high-technology products. Processed kaolin-halloysite from Carey's Well exhibits potential to be an ideal HPA feedstock, with metallurgical characterisation research underway to establish quality," the brief reads.