Date: Jul 03, 2018
Increasing global demand and a robust vanadium price have spurred local exploration junior Hardey Resources (ASX: HDY) to acquire and re-open the historic Nelly vanadium mine in Argentina’s San Luis Province.
Under the terms of a binding Heads of Agreement, Hardey will acquire the shares of Nelly Vanadium Pty Ltd, the current owner of the Nelly mine, and lodge an application to re-open the mine with a view to fast-tracking the recommencement of production.
During Nelly’s eight years of operation, only part of the known deposit was exploited, leaving most of the untapped mineralisation intact.
Hardey will utilise modern geophysical survey techniques and exploration drilling to extend the known 40m depth of mineralisation at Nelly in the dip direction of historic mineralised veins.
Re-opening and expanding a historic mine
Situated over a 53-hectare tenement approximately 170 kilometres from the capital of San Luis Province in one of Argentina’s leading vanadium districts, the Nelly mine opened in 1949 primarily as an open pit, and later as an underground operation.
