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Australian Vanadium Ltd.
Summary
| Project: | Gabanintha | |
|---|---|---|
| Deposit: | Gabanintha | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 9/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-9-2017: Australian Vanadium Ltd. announces a Resource Estimation report for its Gabanintha deposit at the Gabanintha project. 96% increase in Mineral Resource tonnes at Gabanintha. Australian Vanadium Limited (ASX:AVL, “the Company” or AVL”) is pleased | |
| Resources: | (Resource, Total): 179.6Mt @ 0.75% V2O5 at Gabanintha | |
| CP/QP: | [Resources]: Brian Davis (Geologica Pty Ltd.) | |
| ABSTRACT: | Australian Vanadium Limited (ASX:AVL, “the Company” or AVL”) is pleased to announce a significant resource upgrade for its Gabanintha Vanadium Project near Meekatharra in Western Australia. The updated Measured, Indicated and Inferred Mineral Resource is 179.6 million tonnes (Mt) at 0.75% V2O5 which includes a Measured and Indicated Mineral Resource of 35.5Mt grading 0.75% V2O5. This updated estimation represents a 96% increase in the overall Resource, a 46% increase in the Measured Resource, a 43% increase in the Indicated Resource and a 116% increase in the Inferred Resource categories for the Project compared to the 2015 estimation. There is extensive potential to convert Inferred Resources to the Measured and Indicated categories at Gabanintha with additional targeted drilling. The revised estimate has been conducted following a major revision of the geological interpretation for the Gabanintha mafic layered intrusion. The revision is based on the collection of additional density information; a major review of geological logging and zone coding; extensive consideration of geophysics and a review of the geological continuity along-strike and down-dip. The result helps underpin the Company’s aim to become Australia’s next new vanadium producer, commencing with an extensive metallurgical test work program and beneficiation circuit design to be undertaken on the company’s existing diamond core. This will be followed by the completion of a PFS into an early-start, concentrate-only production option for Gabanintha. | |
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