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Australian Vanadium Ltd.
Summary
| Project: | Australian Vanadium | |
|---|---|---|
| Deposit: | Australian Vanadium | |
| Location: | Australia | |
| Commodities: | Vanadium-Iron-Titanium-Silica | |
| Date: | 7/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2019: Australian Vanadium Ltd. announces an Exploration/Drilling Update report for its Australian Vanadium deposit at the Australian Vanadium project. Drilling results incl. 25.99m @ 1.01% V2O5, 61.3% Fe2O3, 11.5% TiO2, 11.4% SiO2 from 132.88m. Austr | |
| Resources: | Reserve, P+P): 18.240Mt @ 1.04% V2O5 for 121Kt V2O5 contained | |
| CP/QP: | [Overall Report]: Brian Davis (Internal) | |
| ABSTRACT: | Australian Vanadium Limited (ASX: AVL, “the Company” or AVL”) is pleased to report on assays received from resource drilling conducted in April 2019 at the Australian Vanadium Project (“the Project”), near Meekatharra in Western Australia (see Figure 5). As reported in April, (see ASX announcement dated 4 April 2019 ’Highly Successful Drilling Program Completed’), the metallurgical drill program of 30 holes included 14 diamond core drillholes used for the collection of material for the Company’s ongoing pilot-scale metallurgical test program, which forms a critical part of the ongoing Definitive Feasibility Study at the Project. The pilot sample collection, characterisation and processing were prioritised. An additional 16 deep diamond drill intersections were completed for additional sample collection and resource extensions. Assays have been received for 14 of the 18 vertical diamond tails and will be used to complete a revised Mineral Resource Estimate. The drill holes targeted extensions to the resources at the bottom of and below the current pit design, where the deposit remains open at depth. Managing Director Vincent Algar comments, “The massive magnetite intersections show consistent high grades in this program, which are hallmarks of AVL’s project and are further supported by this drilling. The deeper holes reported will now be integrated into the resource and mine planning. The pit depths in the PFS were often constrained by the drilling depth and the subsequent resource model. These drill holes will support new de-risked resources that can feed the DFS mine schedule.” | |
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