Golden Deeps Intersects High-Grade Vanadium In Drilling At Abenab Vanadium Project In Namibia

Development of Abenab is a priority for the multi-commodity developer which is preparing for a maiden JORC-compliant mineral resource estimate.

Golden Deeps Ltd - Golden Deeps Ltd

Golden Deeps Ltd (ASX:GED) has completed a resource definition and development drilling program at its Abenab Vanadium Project in Namibia, intersecting broad zones of high-grade vanadium pentoxide mineralisation.

The program comprised 23 holes for 3,638 metres which included infill and extension diamond drill holes into the existing Abenab resource and shallow reverse circulation drilling around the historic pit.

Broad high-grade intersections

Golden Deeps chairman Michael Minosora said initial results from the company’s first-phase drilling program were positive.

The best intersection obtained was 64.18 metres at 0.90% vanadium, 2.01% lead and 0.65% zinc from 207 metres, including 19 metres at 1.25% vanadium, 2.73% lead and 0.878% zinc from 230 metres.

Assays from a second hole include:

  • 10.68 metres at 0.26% vanadium, 0.57% lead and 0.17% zinc from 167 metres;
  • 5.8 metres at 0.3% vanadium, 0.92% lead, 0.3% zinc from 203 metres;and
  • 6.9 metres at 0.25% vanadium, 0.58% lead, 0.32% zinc from 216.1 metres.

Further increase size of resource

Minosora added that the results “highlight the real potential that exists at Abenab for a further increase in the size of the existing resource.”

He continued: “Of significance, intersection grade results from hole ABD015 are likely to result in an increase in resource tonnes of our existing inferred mineral resource of 2.8 million tonnes at 0.66% vanadium pentoxide, 2.35% lead and 0.94% zinc.

“This is a fantastic result for the company and its shareholders given we only recently upgraded the resource earlier this year and while we still await some results from phase-one, we are looking forward to commencing phase-two drilling in quarter four.

Evaluating mining options

Abenab’s RC drilling targeted shallow vanadium mineralisation adjacent to the historic Abenab open pit, as part of a broader study evaluating mining options for the current defined resource.

Detailed geological mapping is planned to delineate the extent of the remnant vanadium mineralisation in the south wall of the open pit.

This will be followed up with channel sampling and potentially further drilling to infill coverage around existing drill holes.

Converting resource to indicated category

Pending results from the phase-one drilling program, the company expects to carry out additional infill drilling of 5-6 holes to potentially convert the existing JORC 2012 inferred resource to the indicated category.

Further drill testing of the surface vanadium mineralisation around the open pit is planned to supplement the RC drilling already completed.

The volume and grade of this material will be estimated to determine if it can be added to the vanadium-bearing stockpiles.