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Vital Metals Ltd.
Summary
| Project: | Nahouri | |
|---|---|---|
| Deposit: | Nahouri | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 10/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-10-2018: Vital Metals Ltd. announces a Resource Estimation report for its Nahouri deposit at the Nahouri project. Exploration target for Nahouri project. Vital Metals Limited (ASX: VML) is pleased to report it has identified a vanadium-titaniummagnetite | |
| Resources: | Exploration Target: 22.5Mt - 171Mt @ 0.2 - 0.5% V2O5 | |
| CP/QP: | [Overall Report]: Mark Strizek (Internal) | |
| ABSTRACT: | Vital Metals Limited (ASX: VML) is pleased to report it has identified a vanadium-titaniummagnetite (VTM) exploration target at Tiebele, part of its Nahouri project in Burkina Faso. The Company is planning to complete infill soiling sampling on the target to test the extent of the magnetic anomaly. Vital Managing Director Mark Strizek said: “Our exploration team has identified a VTM exploration target in Burkina Faso after examining historic and modern data. Based on the available exploration data, the targeted style of mineralisation is a Vanadium-Titanium-Magnetite body (VTM), similar to projects in the Yilgarn craton (e.g. Canegrass or Windmurra). “Based on the size of the magnetic anomaly, we have estimated a strike length of 1,500m to 1,900m at an average width of 50m to 150m for the anomalous rock body. The shape of the magnetic anomaly suggests a NW dip and if this was around 150m then potentially there is a sizeable volume however, we will need drill testing to verify. “With the exploration season fast approaching in Burkina Faso, our next step is confirmatory geochemical sampling over the target to determine its potential as a drill target.” Vital’s review of historic, wide-spaced soil geochemistry data identified a NE-SW striking elongated vanadium anomaly (max 915ppm V - 0.16% V2O5) on the Nahouri permit, southeast of Tiebele. Our exploration geologist overlaid our high resolution aeromagnetic data and confirmed that geochemical anomaly coincided with a very pronounced magnetic anomaly. The elongated shape of the magnetic anomaly and the combination of elevated vanadium with elevated titanium and magnetite concentration suggested that it may be caused by a V-Timagnetite body (VTM), similar to most significant V-Ti resources around the world. During May 2018, Vital’s exploration team conducted a soil sampling program to test the V-Ti target, with three soil samples placed directly on the magnetic anomaly between historic samples. Two of the three confirmed the anomaly, with 1075ppm and 528ppm V (0.19 and 0.09% V2O5), respectively. These samples also showed high concentrations of Ti and Fe. The third ASX/ Media Announcement 4 October 2018 sample did only show background values but may have sampled transported cover material instead of residual soil. | |
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