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Australian Vanadium (ASX:AVL) - Managing Director, Vincent Algar
Managing Director, Vincent Algar
Source: Vincent Algar/Twitter
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  • Australian Vanadium (AVL) identifies highly encouraging copper and platinum group element (PGE) soil anomalies at the Coates Project in WA
  • Results highlight a prospective sequence of nickel, copper, PGE bearing rocks untested by recent exploration
  • During August, AVL will undertake an airborne electromagnetic survey of the Coates Mafic Complex
  • This work will allow the company to gain an understanding of the presence and depth of conductive bodies, lithology boundaries and structural information
  • AVL is steady on the market with shares trading at 2.6 cents at 11:24 am AEST

Australian Vanadium (AVL) has identified highly encouraging copper and platinum group element (PGE) soil anomalism at the Coates Project.

The Coates Project lies in the Shire of Northam, roughly 60 kilometres east of Perth and historical exploration primarily focussed on iron-titanium-vanadium.

A total of 137 soil samples were collected from the project over a 200-metre-by-40-metre grid.

Results supported the continuation of nickel, copper PGE bearing rocks untested by recent exploration.

Managing Director Vincent Algar commented on the project and the work undertaken.

“Other sizeable fragments with compelling geology such as Coates need to be explored with new eyes as AVL is now doing,” Mr Algar commented.

“Many new discoveries will occur and AVL has the knowledge and capacity to move the project forward, while maintaining its focus on the development of the company’s flagship Australian Vanadium Project at Gabanintha.”

During August, AVL will undertake an airborne electromagnetic survey of the Coates Mafic Complex.

This survey will allow the company to gain an understanding of the presence and depth of conductive bodies, lithology boundaries and structural information.

AVL has also submitted an application for approval to the Department of Biodiversity, Conservation and Attractions to undertake soil sampling and ground geophysics.

Reverse circulation and diamond drilling is planned for Q4 and will be funded for up to $112,500.

Finally, AVL has finalised the acquisition of 200 metres of historical diamond core from the magnetite gabbro at the Coates intrusion.

This core will allow AVL to undertake more detailed sampling using modern equipment.

AVL was steady on the market with shares trading at 2.6 cents at 11:24 am AEST.

AVL by the numbers
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