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- Golden Deeps (GED) uncovers an “exceptionally high-grade” sample from its Abenab project in Namibia
- The concentrate sample reads 15.6 per cent vanadium oxide, 11.2 per cent zinc, 38.2 per cent lead and 0.8 per cent copper — significantly higher than the previous sample
- CEO Jon Dugdale says this is a “major breakthrough” and will look to replicate the process for the nearby Nosib discovery, before completing further testwork to produce high-value battery metals
- The gravity and metallurgical testwork will then be integrated into an updated resource model for Abenab and mining study to produce a scoping study
- Company shares are up 20 per cent to trade at 1.2 cents at 11:50 am AEDT
Golden Deeps (GED) has uncovered an “exceptionally high-grade” sample from its Abenab project in Namibia.
The company completed gravity testwork which produced a high-grade concentrate sample grading 15.6 per cent vanadium oxide, 11.2 per cent zinc, 38.2 per cent lead and 0.8 per cent copper.
This reportedly represents an upgrade 18 times higher than the drill core composite sample, which had an assay head grade of 0.9 per cent vanadium oxide, 2.1 per cent lead and 0.7 per cent zinc.
According to the company, today’s results match historical concentrate production grades from the Abenab mine which was regarded as the world’s “richest and largest known” deposit of vanadate ore.
CEO Jon Dugdale said the new grades represent a “major breakthrough” for the company.
“The testwork results open the door to replicating the process for the Nosib discovery and then completing downstream hydrometallurgical testwork to produce high-value battery metals products for the rapidly growing renewable energy battery storage industries globally,” Mr Dugdale said.
Golden Deeps is now progressing metallurgical testwork on bulk samples from the nearby Nosib discovery. The gravity and metallurgical testwork will be integrated into an updated resource model for Abenab and an upgraded mining study to produce a scoping study.
Company shares were up 20 per cent to trade at 1.2 cents at 11:50 am AEDT.
