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Australian Vanadium Ltd.

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Summary

Project:

Australian Vanadium

Deposit:Australian Vanadium
Location:Australia
Commodities:Vanadium-Iron-Titanium-Silica
Date:11/28/2019
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:28-11-2019: Australian Vanadium Ltd. announces an Exploration/Drilling Update report for its Australian Vanadium deposit at the Australian Vanadium project. Drilling results incl. 17m @ 1.23% V2O5 from 38m. Australian Vanadium Limited (ASX: AVL, “the Comp
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 drilling within the current Pre-feasibility Study (PFS) pit design, which was undertaken to further refine the structural model and provide additional input to the resource and geotechnical data supporting the pit design. As reported in October1 , thirteen RC holes were drilled at The Australian Vanadium Project (“the Project”) for 1,224 metres to further define the high-grade zone (HG 10) within the PFS case area, (see Appendix 1 for details). Drilling was largely concentrated at the junction of two fault blocks (17 and 20). Results confirm consistency and high-grade of the massive magnetite horizons at the Project, with the highest individual metre assay result returned for this programme at 1.44% V2O5 in 19RRC001 from 38 to 39m. Impressively, 16 individual metre assays returned grades over 1.3% V2O5.

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