Australian Vanadium Will Use Positive Assay Results for Upgraded Resource Estimate

A robust approach to optimise process design aims to distinguish The Australian Vanadium Project as the leading global vanadium project of choice.

Australian Vanadium will use positive assay results for upgraded resource estimate

Australian Vanadium Ltd (ASX:AVL) has received positive results from drilling at The Australian Vanadium Project near Meekatharra in Western Australia which will be incorporated in an upgraded mineral resource estimate.

About 30 large diameter diamond core holes were completed at the project for use in ongoing pilot scale test work, with material from 14 of the holes used for high-priority definitive feasibility study (DFS) pilot scale processing.

Results from 16 depth-extension holes targeting mineralisation below the base of the pre-feasibility study (PFS) life-of-mine pit have also been received.

A high-grade vanadium-rich zone grading more than 1.2% vanadium oxide is identified consistently at depths below previous drilling, supporting previous work.

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Australian Vanadium managing director Vincent Algar said: “The massive magnetite intersections show consistent high grades in this program, which are hallmarks of AVL’s project and are further supported by this drilling.

“The deeper holes reported will now be integrated into the resource and mine planning.

“The pit depths in the PFS were often constrained by the drilling depth and the subsequent resource model. These drill holes will support new de-risked resources that can feed the DFS mine schedule.”

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Best intersections include:

  • 18 metres at 1.17% vanadium oxide and 73.4% iron oxide from 109 metres;
  • 11.67 metres at 1.20% and 75.5% from 129.65 metres;
  • 15 metres at 1.23% and 61.2% from 101 metres; and
  • 17 metres at 1.17% and 61.3% from 20.2 metres.

Results will be included in a resource upgrade planned for the fourth quarter.

A pilot-scale metallurgical test program is underway to confirm details of a processing circuit for final DFS design.