Date: Sep 13, 2018
The inferred resource follows Pursuit’s estimate of an exploration target of 80-105 million tonnes containing 4-10.5Mt of magnetite grading 2-2.3% V2O5 (in magnetite concentrate) for 80,000-241,000 tonnes of V2O5 at the Koitelainen Vosa prospect.
The exploration target followed assessment of 3742m of drilling from 25 historical drill holes.
Pursuit said the vanadium in magnetite concentrate at Koitelainen Vosa is comparable to the Rhovan vanadium mine in South Africa, which produces the second highest grade vanadium in magnetite concentrate of any vanadium mine currently in operation (at an average grade of 2.3% V2O5 in magnetite concentrate).
Having recently reached a 10-year high and being up about 300% over the past 12 months, the price for V2O5 (flake 98%)…
