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Bushveld Minerals Ltd.
Summary
| Project: | Vametco Mine | |
|---|---|---|
| Deposit: | Brits | |
| Location: | South Africa | |
| Commodities: | Vanadium-Magnetite | |
| Date: | 7/16/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-7-2019: Bushveld Minerals Ltd. announces a Resource Estimation report for its Brits deposit at the Vametco Mine project. Amended announcement - Brits Vanadium Maiden Mineral Resource. Bushveld Minerals Limited (AIM: BMN), the AIM listed, integrated pri | |
| Resources: | (Resource, I+I): 66.8Mt @ 0.56% V2O5, 29.87% Magnetite | |
| CP/QP: | [Resources]: Richard Viljoen (Not stated) | |
| ABSTRACT: | Bushveld Minerals Limited (AIM: BMN), the AIM listed, integrated primary vanadium producer, with ownership of high grade vanadium assets, is pleased to provide a maiden Mineral Resource estimate for the Brits Vanadium Project (the "Brits Project"). The Brits Project is located on Portion 3 of the farm Uitvalgrond 431 JQ, near the town of Brits in the North West Province of South Africa and is directly along strike from the Bushveld Vametco Alloys Mine (Bushveld-Vametco). The maiden Mineral Resource incorporates data from the 2018 drilling campaign comprising 26 drill holes over a total of 2,967m of diamond drilling. The Mineral Resource is reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) and is classified into the Indicated and Inferred Categories in Table 1 below. Fortune Mojapelo, CEO of Bushveld Minerals Limited, commented: "We are pleased to be able to report solid results confirming that we have a high-quality asset at the Brits Project, where its average grade of 1.58% V2O5 in magnetite is among the highest in the world. "This represents an important step in the development of Brits - as we recently detailed our path to producing over 8,400 mtV per annum and Brits provides the optionality for additional ore feed for the Vametco plant and, if required, concentrate feed for the Vanchem plant." | |
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