Australian Vanadium confirms continuity of high-grade vanadium zone at Gabanintha

Date: Oct 31, 2018

Emerging vanadium producer Australian Vanadium (ASX: AVL) has confirmed the continuity of a high-grade vanadium zone at its Gabanintha project in Western Australia, with recent infill drilling supporting a resource conversion upgrade from inferred to indicated status.

The company recently completed a reverse circulation (RC) drilling, diamond drilling and geotechnical program at the project, located near Meekatharra in the state’s Murchison province, with results identifying a consistent high-grade zone over 1.2% vanadium pentoxide.

One of the best drilling results included a 17m intersection grading at 1.03% vanadium pentoxide and 61.9% iron oxide from 38m, including 7m at 1.29% vanadium pentoxide from 41m.

Other highlights were 17m at 1.14% vanadium pentoxide and 66.5% iron oxide from 81m, including 10m at 1.28% vanadium pentoxide from 82m; and 12m at 1.12% vanadium pentoxide and 68.5% iron oxide from 47m, including 8m at 1.24% vanadium pentoxide from 48m.

This high-grade vanadium zone is within a massive magnetite layer that forms the basis of the current economic studies at Gabanintha. It has a total resource estimate of 175.5 million tonnes at 0.77% vanadium oxide, comprised of measured, indicated and inferred resources.

According to Australian Vanadium managing director Vincent Algar, the program delivered a raft of significant information to help finalise the project’s pre-feasibility study.

“This includes vital geotechnical information as well as additional confirmation of our mineralisation’s tenor and geometry,” he said.

“It also demonstrates the benefit of having significant strike length under our control, enabling us to quickly add high quality, low risk resources for minimal outlay, to feed the planned operation,” Mr Algar added.

Pre-feasibility progress

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