PALM BEACH, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The global silica market has witnessed significant growth in recent years due to its wide range of applications across various industries. Silica, also known as silicon dioxide, is a naturally occurring compound found in abundance in the Earth's crust. It is available in different forms, such as quartz, sand, and silica gel, and is valued for its properties like high strength, hardness, and resistance to heat and chemicals. One of the major drivers for the global silica market is the increasing demand from the construction industry. Silica is a key ingredient in the production of concrete, where it is used as a filler and reinforcement material. A report from SKYQUEST projected that the Global Silica Market size, which was valued at USD 41.20 billion in 2022, is poised to grow from USD 45.28 billion in 2023 to 96.36 USD billion by 2031, growing at a CAGR of 9.9% during the forecast period (2024-2031). The report said: “The growing construction activities, particularly in emerging economies, have boosted the demand for silica. Additionally, the rising trend of using silica in green and sustainable construction practices has further propelled its market growth. Furthermore, the healthcare and personal care industries are emerging as significant consumers of silica. Silica is widely used in pharmaceuticals, cosmetics, and personal care products due to its absorbent and abrasive properties. It finds applications in toothpaste, skincare products, and dietary supplements. The increasing awareness regarding personal hygiene and wellness has led to a rise in the demand for silica in these sectors.” Active companies in the markets this week include: SILICON METALS CORP. (CSE:SI), Homerun Resources Inc. (OTCQB: HMRFF) (TSX-V: HMR), Quebec Innovative Materials Corp. (OTCPK: QIMCF) (CSE: QIMC), HP Inc. (NYSE: HPQ), Argyle Resources Corp. (OTCQB: ARLYF) (CSE: ARGL).
SKYQUEST continued: “Geographically, Asia Pacific dominates the global silica market, driven by the presence of key end-use industries and rapid industrialization in countries like China and India. These countries have witnessed substantial infrastructure development, construction activities, and automotive production, contributing to the demand for silica. North America and Europe also hold significant market shares, primarily due to the established electronics and automotive industries in these regions. In terms of the fastest-growing region in the global silica market, it is important to highlight North America. The North American region has been witnessing rapid growth in the demand for silica due to factors like technological advancements, increasing investments in research and development, and a strong emphasis on sustainability. The presence of a well-established automotive industry, construction projects, and manufacturing activities in countries like the United States and Canada drive the demand for silica in the region. The growth of sectors such as electronics, energy, and healthcare also contribute to the increasing demand for silica in North America”
SILICON METALS CORP. (CSE:SI) ANNOUNCES ACQUISITION OF BOTH THE SILICA RIDGE AND THE LONGWORTH SILICA PROJECTS, AS WELL THE FORMATION OF ITS ADVISORY BOARD - SILICON METALS CORP. (“Silicon Metals” or the “Company”) is pleased to announce that it has entered into two option agreements with Cronin Exploration Inc. (the “Optionor”) dated November 6th, 2024 (the "Agreements"), pursuant to which the Company has acquired options (the “Options”) to purchase an undivided 100% right, title, and interest in both the Silica Ridge Silica Project located approximately 70kms southwest of the town of MacKenzie, British Columbia, as well as the Longworth Silica Project located approximately 85km east of Prince George, British Columbia (the “Properties”).
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The Silica Ridge Property - The 2,538.22 Ha Silica Ridge property is host to a large quartzite occurrence which was most recently drilled by Silver Standard Mines Limited (“Silver Standard”) in 1975. At least five holes were drilled on the occurrence and summarized in a memo filed with the BC government by Silver Standard which states "five holes drilled in a relatively small area indicate a substantial tonnage of silica with the following analysis: SiO2 - 99.43 percent; Fe2O3 - 0.09 percent; Al2O3 - 0.08 percent; CaO - 0.011 percent; and LOI - 0.18 percent” (Property File: PF016434.pdf ). The work conducted by Silver Standard was confined to the northwest corner of the existing property leaving strong potential, based on current regional government mapping, to expand the known historic high-purity mineralization to the southeast along strike.
The Longworth Silica Property - The 3,863.06 Ha Longworth Silica property hosts a folded sequence of sedimentary and volcanic rocks which underlie Bearpaw Ridge. The Company is specifically targeting the Nonda Quartzite formation which strikes to the southeast and regionally shows multiple faulted offsets and folds. At least four northwest trending bands of quartzite have been mapped along the western flank of Bearpaw Ridge where thicknesses of the quartzite bands can reach up to approximately 400 metres.
The main quartzite band mapped on the property is folded and open to the northwest along strike. Previous reports on quartzite bands in the region have shown massive and homogeneous compositions of a high-purity silica (Minfile: MINFILE Mineral Inventory). Eight chip samples collected in 1982 by the Geological Survey Branch of British Columbia averaged 99.5 per cent silica (BCGS Open File 1987-15).
In the 1970’s Silver Standard was exploring for high-purity silica for use in the production of ferro silicon and silicon metal. In 1985 Silver Standard conducted a metallurgical program with the metallurgical engineering lab at the University of British Columbia. More recently in 2016, MGX Minerals Inc. reported SiO2 results up to 99.56% in the region. The Company sees an opportunity to follow up on historical work and expand the known mineralization along strike to the southeast. CONTINUED… Read this full press release and more news for SILICON METALS at: https://siliconmetalscorp.com/news/
Other recent developments in the markets of note include:
Homerun Resources Inc. (OTCQB: HMRFF) (TSXV: HMR) recently announced the signing of a non-binding Memorandum of Understanding (MOU) with Norsul to implement immediate and develop future opportunities for maritime transport of high purity silica sands originating from the Belmonte Silica District.
Homerun is working with Norsul, and its established logistics for the maritime transport of high volume and tonnage products in the region. Norsul will serve as Homerun's strategic partner in evaluating current and future development of maritime logistics solutions for silica sand transport. The goal is to leverage existing infrastructure and optimize processes to maximize operational efficiency and explore potential logistics synergies to achieve economies of scale.
Quebec Innovative Materials Corp. (OTCPK: QIMCF) (CSE: QIMC) recently announced its involvement in an initiative led by the Advanced Research Projects Agency-Energy (ARPA-E), which has issued a Request for Information (RFI) aimed at advancing Geologic Hydrogen Resource Exploration. This initiative marks an essential step toward developing innovative approaches to identify, evaluate, and harness naturally occurring hydrogen deposits, a clean energy resource that holds great potential for a sustainable future.
As a leader in advanced hydrogen exploration and sustainable energy solutions, QIMC is eager to contribute certain aspects of its integrated geophysical and geothermal methodologies to ARPA-E's strategic efforts.
Our proprietary approach aligns closely with the RFI's vision of fostering technologies and methodologies that enable the economic assessment, sustainable extraction, and effective commercialization of geologic hydrogen resources. For QIMC, this RFI represents a pivotal opportunity to provide insights that will help shape the future of hydrogen exploration, contributing to the broader transition to a clean, resilient energy system. We look forward to collaborating with ARPA-E and other industry leaders to drive innovation in this essential field.
HP Inc. (NYSE: HPQ) recently announced that it will present a live audio webcast of a conference call to review financial results for the fourth fiscal quarter and fiscal year ended October 31, 2024 on Tuesday, Nov 26, 2024 at 5:30 p.m. ET / 2:30 p.m. PT. The webcast will be available at www.hp.com/investor/2024Q4Webcast.
A replay of the audio webcast will be available at the same website shortly after the call and will remain available for approximately one year.
Argyle Resources Corp. (OTCQB: ARLYF) (CSE: ARGL), further to the news release dated August 30, 2024, recently provided shareholders with an update on its strategically located pilot processing facility in St-Lambert-de-Lauzon. The pilot plant facility is in close proximity to its silica exploration properties in Quebec and also in close proximity to the Company’s research partners, the Institut National de la Recherche Scientifique (“INRS”) campus near Québec City.
“We are excited to announce the developments to the processing facility, which represents another step forward in our exploration and processing capabilities,” said Jeff Stevens, CEO of Argyle Resources Corp. “Having the equipment on site and ready for the November 2024 restart of exploration at Matapedia is a positive milestone and maintains the planned schedule for the work partnership being executed by the INRS”. The Company has overseen some minimal upgrades to the facility and has begun the assembly of three pieces of equipment which will assist the INRS with their silica exploration field work and silica analysis.
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