Date: Aug 7, 2018
In a sign that revered West Australian prospector Mark Creasy rates his investment in ASX listed junior explorer Coziron Resources, the wily prospector has tipped another million dollars into the company.
Coziron has secured a $1m loan facility from the Creasy Group who is also the company’s existing largest shareholder.
The funds will be used to advance exploration at the company’s high priority Buddadoo vanadium project and the Croydon Top Camp gold project.
At Buddadoo in the Mid West region of W.A, some money will be used to advance the project by generating a maiden JORC-compliant resource, with significant drilling and detailed metallurgical studies scheduled for completion in the upcoming program of field work.
The Buddadoo project contains a 6km long and 350m wide high-order magnetic anomaly that is generated from rock sequences containing bands of massive and disseminated, vanadium-rich titanomagnetite mineralisation.
The company previously drilled Buddadoo during the first half of 2018, returning results of up to 22 metres grading 0.47% vanadium pentoxide from 52m down-hole.
In May, the Coziron reported a stunning, 188m intersection grading 0.34% vanadium pentoxide and 9.4% titanium dioxide from 12m down hole to the end of the hole.
Vanadium is one of the emerging battery metals globally with current vanadium pentoxide prices sitting at just above A$40,000 a tonne.
At the Croydon Top Camp Gold Project in the Pilbara region of W.A, the company is acquiring a 70% interest in the ground from the Creasy Group.
The western part of this project has a long history of gold prospecting and small-scale mining activity and the area has been systematically sampled using soil, rock chip and auger drilling exploration methods.
