Significant vanadium resource upgrade at Gabanintha
96% increase in Mineral Resource tonnes at the Gabanintha Vanadium project, strengthening its position as a globally significant high-grade vanadium deposit.
Updated Mineral Resource is now 179.6Mt at 0.75% vanadium pentoxide (V2O5) consisting of:
- Measured Mineral Resource of 10.2Mt at 1.06% V2O5,
- Indicated Mineral Resource of 25.4Mt at 0.62% V2O5, and
- Inferred Mineral Resource of 144.1Mt at 0.75% V2O5.
The Mineral Resource includes a distinct massive magnetite high-grade zone of 92.8 Mt at 0.96% V2O5 consisting of:
- Measured Mineral Resource of 10.2Mt at 1.06% V2O5,
- Indicated Mineral Resource of 4.8Mt at 1.04% V2O5, and
- Inferred Mineral Resource of 77.8Mt at 0.94% V2O5.
The resource upgrade included consideration of additional bulk density results, revised lithology-based ore zone interpretations and revised weathering profiles.
The larger and more robust Mineral Resource supports investigating early startup operations producing vanadium concentrate, ahead of construction of a full-scale production plant.
Next activities to include:
- Detailed metallurgical test work and processing circuit design to commence immediately;
- Mining optimisation and scheduling study to follow metallurgical test results, and
- Pre-Feasibility Study (PFS) on concentration plant to follow metallurgical work.
AVL intends to supply both the vanadium battery market and the steel industry.