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Bushveld Minerals Ltd.
Summary
| Project: | Vametco Mine | |
|---|---|---|
| Deposit: | Brits | |
| Location: | South Africa | |
| Commodities: | Vanadium-Magnetite | |
| Date: | 3/22/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-3-2019: Bushveld Minerals Ltd. announces an Exploration/Drilling Update report for its Brits deposit at the Vametco Mine project. Drilling results incl. 53.37m @ 32.72% Magnetite, 0.69% V2O5 in-situ. Bushveld Minerals Limited (AIM: BMN), the AIM listed | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Luke Longridge (Not stated) | |
| ABSTRACT: | Bushveld Minerals Limited (AIM: BMN), the AIM listed, integrated primary vanadium producer, with ownership of high grade vanadium assets in South Africa, is pleased to provide an update in respect of the exploration programme at the Brits Vanadium Project ("Brits"), which lies adjacent to the Company's Vametco open pit mine and processing facility in the North West Province. Fortune Mojapelo, CEO of Bushveld Minerals Limited, commented: "We are pleased with the drilling results received to date from our exploration work at Brits. Although, the average grade of 1.66% V2O5 in magnetite concentrate is slightly lower than Vametco, they are still among the highest in the world. The results confirm the continuation of the orebody being mined at Vametco and provide the potential for additional feed tonnages for the Vametco plant and future brownfield processing plants. "We look forward to announcing further results shortly, as well as the maiden resources estimate by mid-year." Assay results for 10 boreholes from the second phase of exploration drilling at Brits have been received, and these are BVL009 to BVL019 (excluding BVL018). Results for Boreholes BVL018 and BVL020 to BVL026 have been delayed by the laboratory and will be reported during Q2 2019. The Maiden Mineral Resource Estimate for Brits is expected before the end of Q2 2019. Table 1 summarises the results for the first 10 boreholes of the second phase of the exploration drilling programme which was completed in Q3 2018. | |
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