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AssembleBay Ltd.
Summary
| Project: | Skane | |
|---|---|---|
| Deposit: | Skane | |
| Location: | Sweden | |
| Commodities: | Vanadium | |
| Date: | 9/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-9-2018: AssembleBay Ltd. announces a Resource Estimation report for its Skane deposit at the Skane project. Exploration target for Skane vanadium project. AssembleBay Limited (ASX:ASY) (ASY or Company) is pleased to announce that all approvals sought f | |
| Resources: | Exploration Target: 350Mt - 440Mt @ 0.5% - 0.8% V2O5 | |
| CP/QP: | [Overall Report]: Richard Maddocks (Auralia Mining Consultants) | |
| ABSTRACT: | AssembleBay Limited (ASX:ASY) (ASY or Company) is pleased to announce that all approvals sought from shareholders in connection with the proposed acquisition of the Skåne Vanadium Project and recompliance listing on ASX were received at its General Meeting held on 12 September 2018. The Company is finalising a prospectus for its re-compliance listing and proposed capital raising. As part of that process the Company has engaged consulting geologists, Auralia Mining Consultants Pty Ltd, to prepare an Independent Geologist's Report, and has established an Exploration Target for the Skåne Vanadium Project. This Exploration Target is a statement or estimate of the exploration potential of the mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade, relates to mineralisation for which the potential quantity and grade is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource. ScandiVanadium’s Managing Director David Minchin said: “The Exploration Target shows the tremendous potential for the Skåne Vanadium Project to contain high tonnage Vanadium mineralization at good grade. We are aware that Skåne has historically been considered as a source for Vanadium, with test mining conducted at Flagabro during the 1940’s. The Independent Geologist’s Report, which brings together results from historic drilling, rock chip assays at the historic mine, and mapping conducted by the SGU, encourages the enthusiasm and excitement felt by AssembleBay and ScandiVanadium towards this project. Our focus now is on getting all the relevant permits in place to start drilling target areas and define a JORC compliant resource as soon as possible.” | |
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