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Vanadium Resources Ltd.
Summary
| Project: | Steelpoortdrift | |
|---|---|---|
| Deposit: | Steelpoortdrift | |
| Location: | South Africa | |
| Commodities: | Vanadium-Titanium-Iron | |
| Date: | 8/5/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-8-2019: Vanadium Resources Ltd. announces an Exploration/Drilling Update report for its Steelpoortdrift deposit at the Steelpoortdrift project. Drilling results incl. 20m @ 2.37% V2O5, 11% TiO2, 55% Fe from 86m. The management of Vanadium Resources Limi | |
| 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 more exceptional concentrate results which support the quality of vanadium mineralisation present 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 Fe (> 55%), TiO2 (~12%) and V2O5 (~2.2%) and low in silica and alumina (Appendix 1). Further results are to be received as drill rigs arrive on site to commence the reserve drilling programme at Steelpoortdrift. The short drilling campaign is focussed on the near surface mineralisation within the conceptual pit shell used as the basis of the Company’s recent Scoping Study. 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). Concentrate was generated from mineralised drill samples from VR8’s drilling by using a Davis Tube, which separates magnetic material from non‐magnetic material. Both the magnetic and non magnetic fraction were then analysed by XRF. Samples were taken from mineralised intervals with whole rock or in situ vanadium contents above 0.5% V2O5 (refer Appendix 1, ASX Announcements 12 October 2018, 25 October 2018, 28 Nov 2018, 16 January 2019, 14 February 2019 and 27 March 2019). It is noteworthy that the V2O5, TiO2 and Fe grades of the concentrate do not change with depth from surface, confirming that no changes in process design are requried for the “oxide” or weathered portion of the Steelpoortdrift deposit. | |
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