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- Australian Vanadium (AVL) has been granted Mining Lease M 51/878 for the Australian Vanadium Project
- The mining lease was granted by the Western Australian Government Department of Mines, Industry Regulation and Safety and lasts 21 years
- This grant represents a major milestone in Australian Vanadium’s pathway to developing the project and well as providing the foundation to begin mining once approvals are received
- Australian Vanadium is up a steady 18.2 per cent and shares are currently trading for 1.3 cents each
Australian Vanadium (AVL) has been granted Mining Lease M 51/878 for the Australian Vanadium Project.
The mining lease was granted by the Western Australian Government Department of Mines, Industry Regulation and Safety and lasts 21 years.
“The grant of the mining lease is an important milestone for AVL and provides certainty to investors and potential project financiers in Australia and globally,” Managing Director Vincent Algar said.
Australian Vanadium’s namesake project lies 740 kilometres northeast of Perth in Western Australia and covers 760 square kilometres.
It is considered one of the highest-grade vanadium projects currently being developed in the world.
It has a total JORC 2012 resource of 208.2 million tonnes at 0.74 per cent vanadium pentoxide.
This consists of a measured resource totalling 10.1 million tonnes at 1.14 per cent vanadium pentoxide, indicated resource estimated at 69.6 million tonnes at 0.72 per cent vanadium pentoxide, and inferred resource calculated at 128.5 million tonnes at 0.73 per cent vanadium pentoxide.
This grant represents a major milestone in Australian Vanadium’s pathway to developing the project and well as providing the foundation to begin mining once approvals are received.
Australian Vanadium is up a steady 18.2 per cent and shares are trading for 1.3 cents each at 11:48 am AEST.
