- Australian Vanadium (AVL) has updated the Mineral Resource for its namesake vanadium project near Meekatharra in WA
- The Total Resource at the Australian Vanadium Project has been raised to 239 million tonnes (Mt) at 0.73 per cent vanadium pentoxide
- The update at the WA asset comes after additional specific gravity data was collected and a review of the iron oxide regression bulk densities for the deposit rocks
- AVL is progressing a Bankable Feasibility Study for the project, with the resource update helping it progress the scheduling and mine optimisation
- Company shares are up 2.08 per cent at 2.5 cents per share
Australian Vanadium (AVL) has updated the Mineral Resource for its namesake vanadium project near Meekatharra in WA.
The Total Resource at the Australian Vanadium Project now sits at 239 million tonnes (Mt) at 0.73 per cent vanadium pentoxide.
While the project’s combined Measured and Indicated High-Grade Resource is 38.8Mt at 1.11 per cent vanadium pentoxide.
The update at the WA asset comes after additional specific gravity data was collected and a review of the iron oxide regression bulk densities for the deposit rocks was carried out.
AVL plans to use the new Mineral Resource to update the mine optimisation and scheduling within the project’s Bankable Feasibility Study.
Managing Director Vincent Algar said the busines was focusing on progressing and de-risking the asset.
“AVL is continuously seeking to improve its understanding of the Mineral Resource as it moves the Project towards production,” Mr Algar said.
“Vanadium Titanium Magnetite deposits display a clear correlation between iron content and density. New information captured and analysed by AVL has been used to upgrade and increase the vanadium resources.
“Density measurement and analysis is a critical and key component of mineral resource estimation used to de-risk mining and processing. As such, further understanding of density, geological and metallurgical parameters will be gained as the project develops.”
Company shares were trading up 2.08 per cent at 2.5 cents per share at 12:42 pm AEDT.