Southern block drilling completed to support updated Mineral Resource and classification upgrades for first five years of planned mining at the Australian Vanadium Project.
- 7,283 metres of Reverse Circulation drilling completed at the Australian Vanadium Project during September and October 2022.
- 5 metres of diamond drilling completed during August 2022.
- Reverse Circulation program infills previous drilling in southern blocks 50, 60 and 70 to underpin updated Mineral Resource with increased classification level.
- Programs provide characterisation material to evaluate expected increases in processed iron and vanadium concentrate grade from the southern blocks.
- Updated Mineral Resource Estimate scheduled for early 2023 which will be used in updated Mine Schedule targeting highest possible V2O5 recovery in concentrate early in the mine life.
- Recent work programs identified:
- Vanadium concentrate grades of up to 1.51% V2O5, confirming near surface opportunities for improving vanadium concentrate grades and recoveries.
- Iron grades in fresh magnetic concentrate of up to 61.0% Fe identified in beneficiation of historical core samples in southern ore blocks, demonstrating potential to improve value of AVL’s FeTi coproduct grade.
- Verification of vanadium concentrate grades greater than 1.39% V2O5 used in AVL’s Bankable Feasibility Study in the early years of production can contribute positively to project economics.
 See ASX Announcement dated 21st September 2021 ‘AVL Prepares for Vanadium Project Growth Opportunity’
 See ASX Announcement dated 6th April 2022 ‘Bankable Feasibility Study for the Australian Vanadium Project’