Date: Aug 15, 2018
Hardey Resources Limited’s (ASX:HDY) today reported that a second field trip to the Nelly Vanadium Mine (NVM) in Argentina’s San Luis Province has confirmed its vanadium exploration upside.
HDY received the second field trip update report from the SRK Consulting and Condor Prospecting teams, which focuses on the north-east part of the tenure. The report provides incremental evidence there is significant exploration upside at the mine. As such, HDY has decided to proceed with exercising the option to acquire NVM.
Notably, an old open pit, surface historical workings and mineralised veins, were discovered — none of which have been previously identified. Evidence of a mineralised vein outcropping was found 100m before and 250m after the second open pit (65m long, 2.5m wide, 3m deep) that aligns with the main open pit south-west of the historic processing plant.
Collectively, these observations confirm the mineralised vein running through tenure is at least 50% larger than the 0.9-1 kilometres originally envisaged.
Significantly, other than the known open pits and small historic workings, much of the mineralised vein appears untouched and exposed at surface
Mineralisation observed in the north-east section — hematite, pyrite, copper and vanadate minerals — was consistent with the geology in the main open pit south-west of the processing plant.
The clear visible extension of the mineralised vein at surface to the north-east across tenure up to 1.5 kilometres long highlighted the degree of exploration upside across NVM. These new discoveries have been measured and evaluated, with the thickest observations outlined the updated tenure map below.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
Highlights from the second day
Around 400m north-east from historic processing plant ruins there is a mineralised vein outcropping adjacent to a small legacy working area 2m by 2m and 1.5m deep. The vein’s general mineralisation trend is a south-west to north-east strike, with outcropping in portions over 6-10m distance. Notably, numerous mineralised clasts are surrounding the vein and working area.
