Clay
Applied Minerals’ extensive drilling program continues to explore underground areas of the Dragon property including two mines developed by prior operators as well as one area that had previously remained unexplored.  To date, it has been determined that the collective area contains a Measured Resource of 596,700 tons of clay and an additional Indicated Resource of 776,500 tons of clay. Extraction of material from targeted areas of this resource is in progress.

Iron Ore
The Dragon Mine also contains an iron resource consisiting of Goethite, Hematite and an amorphous iron phase identified as Ferrihydrite. To date it has been determined that the property contains a Measured resource of 2,104,000 tons of iron ore and an additional Inferred Resource of 688,300 tons based on drilling down to the 300 ft level. Ore was further encountered to below the 500 ft level and could well go farther on basis of old mining records, which indicated iron being present at the 1000 ft level. 

For more information regarding our geologic survey, please view the Resource Statement from independent consulting geologist, Dr. Ian Wilson. Further exploration and analysis of the underground resource is ongoing. Results will be released as they become available.

Surface pile on the Dragon Mine property

The Company, through its geologic survey, has measured five surface piles on the Dragon property encompassing 4.5 million tons of material which can be processed to create purified Halloysite products. The piles were formed by prior operators (from 1949 to 1976) who rejected the mined clay because it did not meet the criteria for their specific end market.

The operators abandoned the Dragon Mine in 1976 when they believed all economic and acceptable resources of Halloysite had been exhausted and an ability to purify the surface piles did not exist (now available today). The surface piles were never removed as the operator failed to appropriately remediate the land. Applied Minerals extraction of material from these surface piles provides that overdue remediation, restoring the land to its natural, undisturbed state.

To date, Applied Minerals has characterized the chemistry and mineralogy of the surface piles and developed a processing system to convert them into purified Halloysite products. The 5 piles continue to be evaluated further with results expected to be released as they become available.

For more information regarding our geologic survey, please view the Resource Statement from independent consulting geologist, Dr. Ian Wilson.

Applied Minerals utilizes a dry beneficiation method to process its Halloysite products through a micronizing system located on the mine site. The process utilizes a low energy jet mill without the employment of any chemicals.

Additional capability through 3rd party partnerships
- Wet processing
- Masterbatch production

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as “measured,” “indicated,” and “inferred” “resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.sec.gov/edgar.shtml