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Australian Vanadium Ltd.
Summary
| Project: | Nowthanna Hill | |
|---|---|---|
| Deposit: | Nowthanna Hill | |
| Location: | Australia | |
| Commodities: | Vanadium-Uranium | |
| Date: | 5/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-5-2019: Australian Vanadium Ltd. announces a Resource Estimation report for its Nowthanna Hill deposit at the Nowthanna Hill project. Initial mineral resource estimate at the project. Australian Vanadium Limited (ASX: AVL, “the Company” or AVL”) is ple | |
| Resources: | (Resource, Inf.): 3.60Mt @ 337ppm V2O5, 4.73Mt @ 404ppm U3O8\ | |
| CP/QP: | [Resources]: Daniel Guibal (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | Australian Vanadium Limited (ASX: AVL, “the Company” or AVL”) is pleased to announce the completion of an updated Mineral Resource Estimate to JORC Code 2012 estimation standards for the Nowthanna Hill uranium deposit near Meekatharra. AVL’s flagship Australian Vanadium Project is situated nearby and a PreFeasibility Study (PFS) was announced to the ASX on 19th December 2018 (ASX:AVL “Gabanintha Pre-Feasibility Study and Maiden Ore Reserve”). Managing Director Vincent Algar comments: “The completion of this resource estimate allows the Company to consider the future value of the granted Nowthanna mining licence. The current moratorium on new uranium mine approvals in the state restricts the actions that can be taken by AVL, but may prove valuable in future for consolidation of calcrete resources in the region. Uranium and vanadium can be extracted from processing the mineral carnotite (a uranium, potassium vanadate). New technologies for the treatment of similar resources, such as those being developed by Marenica Energy Limited, may greatly assist in the economics of future extraction. | |
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