Date: Sep 6, 2018
Venus Metals Corporation (ASX: VMC) has announced a “major breakthrough” at its Youanmi vanadium oxide project in Western Australia, with proof-of-concept test work revealing the potential for significant and rapid vanadium production.
According to the junior explorer, metallurgical test work at the project has confirmed strong recoveries from simple atmospheric sulphuric acid leach testing of oxide vanadium ores, together with the co-extraction of nickel, copper and cobalt.
Venus Metals said this proof-of-concept of high vanadium recoveries makes bulk mining and acid leach processing an attractive development path for initial scoping study work.
In addition, it gives the company a “potential low-cost entry into significant and rapid vanadium production”.
Venus Metals will now commence a 6,000m reverse circulation (RC) drilling program at Youanmi to support advanced metallurgical testing with the aim of proving up a large measured resource.
Youanmi’s JORC 2012 inferred oxide mineral resource estimate currently stands at 110 million tonnes grading 0.3% vanadium oxide for 333,000t of vanadium oxide.
The RC drill program and advanced metallurgical test work has been estimated to cost around $400,000 and will be funded via a convertible loan agreement made with Venus Metals executive director Barry Fehlberg, also announced this week.
