Total Resource rises to 208 Million Tonnes (Mt). Combined Measured and Indicated Resource increases to 35.2Mt at 1.11% V2O5, potentially supporting a longer mine life.
Key Points:
- Indicated Resource of the distinct high-grade magnetite zone increased by 115% to 25.1Mt at 1.10% vanadium pentoxide (V2O5).
- Total Mineral Resource increased by 9.5% to 208.2Mt at 0.74% V2O5 consisting of:
- Measured: 10.1Mt at 1.14% V2O5,
- Indicated: 69.6Mt at 0.72% V2O5, and
- Inferred: 128.5Mt at 0.73% V2O5.
- Updated high-grade portion now 87.9Mt at 1.06% V2O5 comprising:
- Measured: 10.1Mt at 1.14% V2O5,
- Indicated: 25.1Mt at 1.10% V2O5, and
- Inferred: 52.7Mt at 1.04% V2O5.
- Successful conversion of 13Mt of existing high-grade Mineral Resources from Inferred to Indicated category strongly supports ongoing optimisation studies to extend life of mine.
- Detailed magnetic susceptibility analysis outlines opportunity for improved vanadium recovery.
- Prospective project financiers and joint venture partners seeking a de-risked and large resource base.
Total Vanadium Resource at The Australian Vanadium Project Rises to 208 Million Tonnes
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