- Surefire Resources (SRN) sets sights on advancing its Victory Bore/Unaly Hill vanadium projects in WA’s Mid West region
- The company is currently planning a diamond drill program at the project, with core data to be used for for geotechnical and metallurgical test work
- Data from this drilling program will be used to undertake geotechnical studies for geotechnical studies and follow-up metallurgical test work
- Surefire says the vanadium market is “fast evolving as a critical element of the mass commercialisation of large-scale battery solutions in the fast-tracked renewables energy sector”
- SRN shares surge 20 per cent at 2.4 cents
Surefire Resources (SRN) shares have jumped after the company announced plans to carry out diamond drilling at its Victory Bore/Unaly Hill vanadium project in WA’s Mid West region.
The company said core data from the diamond drill program would be used for geotechnical studies and follow-up metallurgical test work.
Victory Bore/Unaly Hill hosts an existing inferred resource of 237 million tonnes grading 0.43 per cent vanadium pentoxide, 24.9 per cent iron and 5.9 per cent titanium dioxide.
According to Surefire, it was one of the state’s largest contained vanadium pentoxide resources.
The company has engaged consulting firm MinRizon Projects to update capital cost and operating cost estimates.
All exploration and evaluation work on the project will go towards an eventual pre-feasibility study.
“The vanadium market is fast evolving as a critical element of the mass commercialisation of large-scale battery solutions in the fast-tracked renewables energy sector,” Surefire said.
“With demand pressures increasing from specialty metals producers … Surefire’s vanadium outlook is very positive.”
SRN shares were trading 20 per cent higher at 2.4 cents at 1:31 pm AEST.