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Vanadium Resources Ltd.
Summary
| Project: | Steelpoortdrift | |
|---|---|---|
| Deposit: | Steelpoortdrift | |
| Location: | South Africa | |
| Commodities: | Vanadium-Titanium | |
| Date: | 11/19/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-11-2019: Vanadium Resources Ltd. announces an Exploration/Drilling Update report for its Steelpoortdrift deposit at the Steelpoortdrift project. Drilling results incl. 44m @ 0.77% V2O5 from 7m. The management of Vanadium Resources Limited (ASX:VR8) (VR | |
| Resources: | (Resource, I+I): 612Mt @ 0.78% V2O5 | |
| CP/QP: | [Overall Report]: Bill Oliver (Internal) | |
| ABSTRACT: | The management of Vanadium Resources Limited (ASX:VR8) (VR8 or the Company) is pleased to announce all results have now been received from the reserve drilling programme at the Steelpoortdrift (SPD) Vanadium Project in South Africa. The short reserve drilling program has improved the definition of mineralisation within the planned initial mining area at Steelpoortdrift and should enable an upgrade in the confidence of the Mineral Resource in this area. Drilling focussed on the 53.4Mt of near surface mineralisation contained within the conceptual pit shell used as the basis of the Company’s recent Scoping Study (refer ASX Announcement 2 May 2019). The current Mineral Resource stands at 612 million tonnes at an in situ grade of 0.78% V2O5 in the Indicated and Inferred categories (refer Appendix 2 and ASX Announcement 16 April 2019). The resource includes a high grade, near surface component of 169 million tonnes at an in situ grade of 1.07% V2O5. | |
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