VRX Silica’s Biranup Project comprises an adjoining holding of tenements spread across 340 km2 located north of AngloGold Ashanti and Independence Group’s Tropicana Gold Mine in the Albany-Fraser Belt.
The Company has identified encouraging gold and copper-nickel prospects at Black Dragon, Fire Dragon, Silver Dragon, and Red Dragon.
On 1 July 2020 the Company announced it had entered into a conditional agreement with New Energy Metals Limited (renamed Nickel X Limited) for the sale of its Biranup Project and an IPO and listing of that company on the ASX.
Increasing activity for new ASX listings delayed progress on the IPO, however Nickel X Limited (NKL) listed on the ASX on Friday 7 May 2021 after successfully raising $7m.
On the Nickel X listing date the VRX Silica shareholding was 9.1% making the Company well placed to participate in any exploration success at Biranup.