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Australian Vanadium encouraged by gold found by Bryah in vanadium deposit at Gabanintha project

Published: 14:51 10 Feb 2021 AEDT

Australian Vanadium Ltd -
Australian Vanadium holds the tenements and mineral rights to vanadium, titanium, iron ore and cobalt at the project

Australian Vanadium Ltd (ASX:AVL) is encouraged by gold results of up to 3 g/t from Bryah Resources Ltd (ASX:BYH) within the vanadium deposit of the Gabanintha project in Western Australia, highlighting the potential for gold to augment nickel and copper mineral resources.

Bryah holds a suite of rights over tenements held by AVL covering 170 square kilometres for all minerals excluding vanadium, titanium, cobalt, chromium, uranium, lithium, tantalum, iron ore and manganese, which are held by AVL.

A review of metallurgical test-work undertaken by AVL on its Australian Vanadium Project within the Gabanintha project showed the presence of gold as well as cobalt, nickel and copper in the non-magnetic tail after separation of the vanadium-titanium-magnetite.

This project is currently progressing through a bankable feasibility study by AVL.

Results warrant detailed investigation

Bryah managing director Neil Marston said: “Given the sheer scale of the vanadium deposit and its long mine-life potential, these initial results warrant us undertaking a more detailed investigation on the extent of gold mineralisation.

“Further drilling samples will be submitted for gold analysis in the coming days with our expectation of more testing to follow.

“A review of AVL’s metallurgical test-work indicates the presence of gold in the nickel-copper-cobalt rich sulphide non-magnetic tailings stream of their planned vanadium-magnetite processing plant.

“The nickel-copper-cobalt sulphide mineralisation has consistently reported to the non-magnetic fraction during the magnetic separation of the vanadium -bearing magnetite.

“This has effectively concentrated the sulphide minerals, enabling further concentration by flotation methods.

“The additional presence of gold in the sulphide nickel-copper-cobalt concentrate could significantly improve the economics of producing this by-product from the project.

“This project is expected to operate for at least 25 years based on the latest feasibility study so the potential for long-term production of a sulphide concentrate by-product containing gold, nickel and copper over the life of the operation represents a significant revenue-generating opportunity for Bryah.”

Gold results 

Up to 3 g/t gold was recorded in latest sample assays, with gold mineralisation being observed within the high-grade vanadium zone (HG10).

Best gold intersections include:

  • 1-metre at 0.48 g/t from 98 metres and 16 metres at 0.18 g/t from 104 metres, including 5 metres at 0.54 g/t from 109 metres;
  • 11 metres at 0.10 g/t from 124 metres, including 2 metres at 0.41 g/t from 128 metres; and
  • 2 metres at 1.72 g/t from 135 metres, including 1-metre at 3.02 g/t from 135 metres.

Follow-up work

Only 450 drill samples across 23 separate drill holes have been analysed for gold to date on the project.

This represents less than 2% of the total project drill samples.

Bryah will also work with AVL to update the cobalt-nickel-copper mineral resource for the project utilising all the drilling completed in 2019 and 2020.

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on 5/2/24