Total
0
Shares
Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Australian Vanadium has received assay results from resource drilling conducted in April 2019 at the Australian Vanadium Project
  • 30 large diameter diamond core holes were completed for ongoing pilot scale processing
  • Assay results from 16 holes have been received
  • A high-grade vanadium-rich zone grading over 1.2 per cent vanadium pentoxide is identified consistently at depths below previous drilling
  • Pilot scale metallurgical test program is underway for final DFS design
  • Hydrology drilling and environmental approval is ongoing

Australian Vanadium has received assay results from resource drilling at its Australian Vanadium Project.

The Australian Vanadium Project is located 740 kilometres north-east of Perth and 43 kilometres south of Meekatharra. The project consists of a high-grade vanadium-titanium-iron deposit

The metallurgical drill program of 30 holes included 14 diamond core drill holes used for the collection of material for the company’s ongoing pilot-scale metallurgical test program. This formed an important part of the ongoing Definitive Feasibility Study at the project.

The other 16 deep diamond drill intersections were completed for additional sample collection and resource extensions.

The drill program comprised large diameter diamond (PQ size) core which was drilled from the base of vertical RC drill holes by extending diamond core tails. The drill target was to confirm and hopefully extend the base of the Life of Mine pit as defined in the Pre-Feasibility Study.

Assays have been received for 14 of the 18 vertical diamond tails and will be used to complete a revised Mineral Resource Estimate.

“The massive magnetite intersections show consistent high grades in this program, which are hallmarks of AVL’s project and are further supported by this drilling. The deeper holes reported will now be integrated into the resource and mine planning,” Managing Director Vincent Algar said.

The company was encouraged by the results. Encountered grade regions were consistently over 1.2 per cent of vanadium pentoxide. Majority of holes intersected an interval between 1 per cent and 1.25 per cent.

The drilling campaign focused on the northern 2 kilometres of the company’s 11.5 kilometre held deposit strike length. AVL can significantly increase the resource base by drilling southwards.

Currently, AVL has declared Mineral Resources of 96.7 million tonnes at 1 per cent vanadium pentoxide in a geologically distinct high-grade mineralised horizon. The overall resource base for the project is 184 million tonnes at 0.76 per cent vanadium pentoxide.

AVL’s Pilot Study is advancing well with the plant set up and trial runs utilising 4 tonnes allowing optimisation for larger pilot batches. Roast leach pilot test work will commence on completion of the crushing, milling and beneficiation pilot plant.

The company is in discussions with Westgold Resources for ways to source water for the project. Environmental approval is ongoing.

AVL by the numbers
More From The Market Herald

" Orcoda (ASX:ODA) celebrates positive cashflow and higher earnings

Orcoda (ODA) has experienced its fifth consecutive cashflow positive quarter for the three months ending September 30 2021.
DroneShield (ASX:DRO) - CEO, Oleg Vornik

" DroneShield (ASX:DRO) tables mixed results in September quarter

DroneShield (DRO) has tabled its September quarterly report and revealed a mixed bag of results.

" Roto-Gro (ASX:RGI) files three international patent applications

Roto-Gro International’s (RGI) subsidiary has filed three international applications under the patent cooperation treaty.

" GWA Group (ASX:GWA) completes extension of syndicated banking facility

GWA Group (GWA) has successfully extended its syndicated banking facility.