** Shares of Australian Silica Quartz ASQ.AX fall as much as 12.5% to hit a record low of A$0.014

** Stock posts its biggest intraday pct fall since April 15

** Mineral explorer puts its Metallurgical Grade Silicon Quartz project in North Queensland on hold

** ASQ says its partner in exploring a potential polysilicon manufacturing facility, Private Energy Partners, will not fund the feasibility study for the project

** Funding paused as quartz grades at the site are insufficient under project requirements, co says

** Around 395,637 shares change hands, over 3.4x its 30-day avg of about 115,449 shares

** YTD, stock down 30.4%, including today's moves

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com;))