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Audalia Resources Ltd.

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Summary

Project:

Medcalf

Deposit:Vesuvius, Fuji, Egmont
Location:Australia
Commodities:Vanadium-Titanium
Date:10/14/2016
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:14-10-2016: Audalia Resources Ltd. announces an Exploration/Drilling Update report for its Vesuvius, Fuji, Egmont deposit at the Medcalf project. Drilling results incl. 61m @ 13.22% TiO2, 0.78% V2O5 from 0m. Audalia Resources Limited (ASX: ACP) is pleased
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: B Butler (Internal)
ABSTRACT:Audalia Resources Limited (ASX: ACP) is pleased to announce the drilling results from the Medcalf Project’s diamond core drilling programme and the Gascoyne rock sampling programme. MEDCALF PROJECT The 17 PQ diamond core drilling programme for 723.1m (Table 1) was drilled entirely on M63/656 and was designed to obtain representative core samples from the mineralised zones in the Egmont, Vesuvius and Fuji Prospects (Table 2). Two holes each were drilled in the Fuji and Egmont prospects while 13 holes were drilled at Vesuvius of which 3 holes were twinned. The diamond drill core will provide critical samples for the geological, geotechnical, metallurgical, plant design and environmental components for the next phase of study. The drill holes have been selected in the centroid areas of the Resource footprint for the three Prospects and within the Pre-feasibility study pit shells. Core from these drillholes represent variations in the deposit, the head grade and depths that are planned to be mined. The drill core samples obtained from the diamond core drilling program will provide samples with great variability for the ongoing metallurgical testwork. Every metre of the core was sampled for 18 elements including vanadium and titanium. The results show the strong consistency of the vanadium and titanium downhole from surface (Table 3) throughout all prospects.

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