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Vanadium Resources Ltd.
Summary
| Project: | Steelpoortdrift | |
|---|---|---|
| Deposit: | Steelpoortdrift | |
| Location: | South Africa | |
| Commodities: | Vanadium-Titanium | |
| Date: | 9/25/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2019: Vanadium Resources Ltd. announces an Exploration/Drilling Update report for its Steelpoortdrift deposit at the Steelpoortdrift project. Drilling results incl. 15m @ 1.08% V2O5, 6.53% TiO2 from 62m. The management of Vanadium Resources Limited ( | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Bill Oliver (Internal) | |
| ABSTRACT: | The management of Vanadium Resources Limited (ASX:VR8) (VR8 or the Company) is pleased to announce first drilling results from the reserve drilling programme at the Steelpoortdrift (SPD) Vanadium Project in South Africa. These results continue to show the high grade, high quality nature of the vanadiferous titanomagnetite present at Steelpoortdrift, which is potentially a saleable product and also provides an advantage in downstream processing due to being high in Vanadium (~2.2%), Iron (> 55%) and Titanium (~12%) and low in silica and alumina (refer ASX Announcement 18 March 2019). The short drilling campaign comprised 23 holes for 1,154 metres (refer Figure 1, Appendix 1) and focussed on the near surface mineralisation within the conceptual pit shell used as the basis of the Company’s recent Scoping Study. 53.4Mt of mineralisation is contained within this pit shell (refer ASX Announcement 2 May 2019). The current Mineral Resource stands at 612 million tonnes at an insitu grade of 0.78% V2O5 in the Indicated and Inferred categories (refer ASX Announcement 16 April 2019). The resource includes a high grade, near surface component of 169 million tonnes at an insitu grade of 1.07% V2O5. The reserve drilling will improve the definition of mineralisation in this zone and should enable an upgrade in the confidence of the Mineral Resource in this area (provided results agree with previous drilling results). | |
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