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Australian Vanadium Ltd.
Summary
| Project: | Australian Vanadium | |
|---|---|---|
| Deposit: | Australian Vanadium | |
| Location: | Australia | |
| Commodities: | Vanadium-Iron-Titanium-Silica-Aluminium | |
| Date: | 3/5/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-3-2020: Australian Vanadium Ltd. announces a Resource Estimation report for its Australian Vanadium deposit at the Australian Vanadium project. Amended updated Mineral Resource Estimate for the Australian Vanadium Project. Australian Vanadium Limited (A | |
| Resources: | (Resources, Total): 208.2Mt @ 0.74% V2O5, 33.6% Fe, 9.0% TiO2, 19.8% SiO2, 12.1% Al2O3 | |
| CP/QP: | [Overall Report]: Roselt Croeser (Independent) | |
| ABSTRACT: | Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) is pleased to announce an updated Mineral Resource for The Australian Vanadium Project (“the Project”) near Meekatharra in Western Australia (Figure 1). The revised estimate has been conducted following a series of drill programmes through 2018 and 2019. The updated Measured, Indicated and Inferred Mineral Resource is contained within a massive magnetite high-grade (HG) horizon and overlying lower grade (LG) disseminated magnetite horizons for a total of 208.2 million tonnes (Mt) at 0.74% V2O5. This updated figure includes a 115% increase in the HG portion to the Indicated Mineral Resource from the previous resource update in November 20182. Table 1 includes a detailed updated Mineral Resource table and Appendix 2 includes a table of the Mineral Resource broken down by the fault block. Managing Director, Vincent Algar commented, “In discussions with potential funding and joint venture partners, a de-risked and large resource base has been a key requisite. This updated Resource is the result of focused additional drilling and increased understanding of the geological setting. The new Indicated Resources successfully targeted known higher magnetic areas which will benefit the mine planning, adding flexibility to the schedule. | |
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