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Coziron Resources Ltd.
Summary
| Project: | Buddadoo | |
|---|---|---|
| Deposit: | Buddadoo | |
| Location: | Australia | |
| Commodities: | Vanadium-Titanium-Iron | |
| Date: | 5/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-5-2018: Coziron Resources Ltd. announces an Exploration/Drilling Update report for its Buddadoo deposit at the Buddadoo project. Drilling results incl. 188m @ 0.3381% V2O5, 9.38% TiO2, 27.45% Fe from 12m. The Board of Coziron Resources Limited (“CZR” or | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Rob Ramsay (Internal) | |
| ABSTRACT: | The Board of Coziron Resources Limited (“CZR” or “Company”) is pleased to advise that the Company has received all first-round assays from the 10 priority RC holes into the 6km long by 350m wide high-order magnetic target (Budd_Gabbro_04) that hosts vanadiferous titanomagnetite on the Buddadoo Project (Figure 6; see announcements to ASX on 31st January 2018, 28th February 2018, 21st March 2018 and 18th April 2018). The RC drilling focused on acquiring sufficient samples to undertake geochemical and metallurgical studies. This announcement summarises the geochemical results from the one-metre interval samples. Future work will focus particularly on the multiple intercepts with V2O5 approaching or greater that 0.3% within the mineralised envelope. Historical metallurgical work on drill-samples (collar locations relocated and now confirmed with hand-held GPS) undertaken in the 1980’s and located mainly along the eastern part of the zone of mineralisation with V2O5 reported by XRF around 0.3% produced a concentrate of titanomagnetite with V2O5 at 1.7% and TiO2 @ 20%. Significance of Vanadiferous titanomagnetite Vanadiferous titanomagnetite is a source of V2O5 that is now significant among the emerging battery metals globally and it has experienced a rapid growth in price over the last 6 months with a listed price currently at approximately USD$30,000/tonne* (vanadiumprice.com). Adam Sierakowski the chairman of the Company commented “we consider these to be excellent first pass drilling results for targeted Vanadium and Titanium potential at the Buddadoo project, following the financial backing of the Company’s largest shareholder for this drilling program. The from-surface mineralisation with wide, high grade V2O5 + TiO2 intercepts compare favourably with other high-order regional Australian projects, and together with the presence of nearby port and transport infrastructure add to the emerging development potential of the project.” | |
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