Date: Jul 06, 2018
The updated measured, indicated and inferred resource is now pegged at 175.5 million tonnes (Mt) at 0.77 percent vanadium, with a higher-grade section of 93.6Mt at 1 percent vanadium. Within the higher-grade zone, measured mineral resources stand at 10.1Mt at 1.11 percent vanadium, with 4.9Mt at 1.09 percent vanadium in the indicated category and 78.6Mt at 0.98 percent with an inferred designation.
“We have developed a unique understanding of the deposit, and our very strong vanadium team will enable us to utilize the knowledge as we advance the project,“ Vince Algar, Australian Vanadium managing director, said in the press release.
The company has also diverted 0.8Mt of the resource to the higher-grade zone resource, while the overall resource has been cut by 5Mt to eliminate the lower grade material.
In addition to upgrading the vanadium resource at the site, the company also announced an increasing cobalt focus within the project. According to the latest site study, Gabanintha contains cobalt, nickel and copper mineralization. The initial inferred mineral resource estimate of 12.5Mt contains 202 parts per million (ppm) cobalt, 659 ppm nickel and 222 ppm copper.
Australian Vanadium is confident these initial cobalt, nickel and copper resource numbers and the modifications to the vanadium resource have reduced risk in the Gabanintha resource base. The key base metal values along with the important geo-metallurgical parameters have significantly added to the value and quality of the mine plan.
