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Australian Vanadium Ltd.
Summary
| Project: | Australian Vanadium | |
|---|---|---|
| Deposit: | Australian Vanadium | |
| Location: | Australia | |
| Commodities: | Vanadium-Iron-Titanium-Silica | |
| Date: | 2/3/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-2-2020: Australian Vanadium Ltd. announces an Exploration/Drilling Update report for its Australian Vanadium deposit at the Australian Vanadium project. Drilling results incl. 22m @ 1.25% V2O5 from 32m. Australian Vanadium Limited (ASX: AVL, “the Compan | |
| Resources: | (Reserve, P+P): 18.240Mt @ 1.04% V2O5 for 121Kt V2O5 contained | |
| CP/QP: | [Overall Report]: Brian Davis (Geologica Pty Ltd.) | |
| ABSTRACT: | Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) is pleased to announce results from the drill programme completed in December 2019 on the southern strike extensions at The Australian Vanadium Project (“the Project”) which is located south of Meekatharra in Western Australia. The outstanding results will underpin an updated resource model in the southern areas. The shallow intercepts and the relatively higher magnetic response relating to weathering are extremely encouraging. The new drilling has closed the existing drill spacing from 400m to approximately 140m. The drilling was successful in identifying the target vanadium mineralisation, confirming the impressive continuity of the unique massive-magnetite zones at the Project. As reported in December1 , thirty RC holes were drilled at the Project for 2,336 metres to further define the high-grade zone (HG 10) within the Pre-Feasibility Study (PFS) case area, (see Table 2 and Table 3 for details). New drilling in this report was focused on the southern blocks of AVL’s 11.5km strike length, all currently outside the definition of Mineral Reserves used in the Company’s PFS. Managing Director Vincent Algar comments: “The exceptional high-grade results from this drilling programme in areas not currently in our Reserve base further strengthen our confidence in the deposit. The results have also confirmed the presence of additional, shallow, highly magnetic mineralisation in this area. This opens up potential for a second, and possibly third mining pit to be used in the DFS mining schedule which adds confidence to the strategies we are applying to bring the Project into production.” | |
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