Industrial Minerals Advances High Purity Quartz Marketing and Academic Collaboration

Strategic Marketing and Offtake Progress at Pippingarra

Industrial Minerals Ltd (ASX:IND) has intensified efforts to position its Pippingarra Quarry Project as a reliable supplier of high purity quartz (HPQ) amid rising demand from semiconductor manufacturing and solar PV sectors. The company’s March quarter activities centred on strategic marketing to secure global and Asia-Pacific partnership engagements, with an eye on locking in long-term offtake agreements essential for industrial customers requiring supply security to justify processing investments.

The Pippingarra project hosts an inferred mineral resource estimate (MRE) of 6.2 million tonnes grading 98% SiO2, a purity level comparable to world-class pegmatite deposits such as those in North Carolina’s Spruce Pine district. This sizeable and high-grade resource, supported by previous successful beneficiation and ore-sorting testwork, underpins IND’s commercial potential to supply advanced manufacturing markets over extended timeframes. The project’s proximity to Port Hedland, connected by sealed highways, offers a logistical advantage for export operations.

IND holds an option to acquire an 80% interest in the non-construction mineral rights at Pippingarra, operated by North West Quarries. The company continues to assess complementary project opportunities to expand its portfolio in Western Australia, maintaining a cautious stance on transactions pending further disclosure requirements.

Academic Collaboration Enhances Geological Insight

Beyond commercial activities, IND has embarked on a research partnership with the University of Western Australia (UWA), which is investigating Western Australian pegmatite systems using advanced isotope and trace element analytical techniques. This academic engagement included a reconnaissance field visit to IND’s Mukinbudin Project in March 2026, aimed at deepening geological understanding of pegmatite-hosted quartz.

Such collaborations are timely given the growing academic and industry interest in pegmatite systems across the region. IND’s cooperation with UWA and permission granted for access to its projects during the upcoming PEG2026 international pegmatite conference in Perth further embed the company within a network of scientific inquiry that could refine its evaluation of HPQ suitability across its asset base over time.

Financial Position and Operational Update

As at 31 March 2026, Industrial Minerals reported a cash balance of $389,293, reflecting a modest exploration expenditure of $50,000 during the quarter. The company confirmed no mining production or development activities took place in the period, consistent with its focus on resource development and market positioning rather than immediate extraction.

Payments to related parties, including director fees and consulting services, totalled $10,500. IND’s Managing Director Jeff Sweet highlighted the company’s steady commercial progress, noting the foundation laid by the maiden JORC Mineral Resource and beneficiation testwork, alongside growing APAC engagement and advancing offtake discussions.

This quarter’s update builds on the company’s previous announcements, including the maiden JORC resource estimate and testwork outcomes, which have been pivotal in attracting strategic interest. The company’s approach to combining rigorous scientific research with targeted marketing efforts reflects a measured strategy to unlock value from its high purity quartz assets. The ongoing exploration and academic activities at Mukinbudin and Pippingarra are a reminder that IND’s portfolio remains dynamic, with potential for further resource definition and product diversification.

IND’s positioning near key infrastructure and its advanced testwork capabilities offer a competitive edge in servicing diverse specifications for customers across Asia, reinforcing its potential role in critical minerals supply chains. The company’s progress during the quarter, including the cooperation with UWA and participation in PEG2026, complements its commercial objectives and could provide valuable insights to inform future project evaluations.

Investors following the company’s trajectory will note that the strategic marketing and academic collaborations form a dual approach to de-risking and enhancing the value proposition of IND’s HPQ projects. The upcoming months will be critical to see how these efforts translate into concrete partnership agreements and whether ongoing research yields insights that materially affect project economics or resource confidence.

IND’s steady cash position and controlled expenditure suggest a disciplined capital approach as it navigates the early commercialisation phase. The company’s next updates and any announcements regarding transactions or offtake agreements will be key indicators of its progress toward becoming a significant supplier in the high purity quartz market.

These developments follow the company’s earlier maiden JORC resource announcement and build on its established strategic partnership momentum in the Asia-Pacific region.