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Audalia Resources inks a vanadium resource in Western Australia

Last updated: 17:00 21 Mar 2013 AEDT, First published: 16:00 21 Mar 2013 AEDT

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Audalia Resources (ASX: ACP) has now released an initial JORC Resource for its Medcalf Vanadium Project in Western Australia after completing a recent drilling campaign at the Vesuvius and Fuji prospects.

The company has defined an Inferred Resource of 28.5 million tonnes at 0.5% vanadium and 9.27% titanium using a 0.2% cut-off.

This compares to the historic resource (non-JORC) of 16 million tonnes at 0.8% vanadium and 12% titanium outlined in three mineralised areas – Egmont, Vesuvius and Fuji.

Using a higher cut-off of 0.6%, the JORC Resource would be 9.5 million tonnes at 0.75% vanadium and 12.1% titanium.

Audalia has finished a 28 hole, 1,306 metre reverse circulation drilling program aimed at confirming a historic resource defined from drilling by Amoco Minerals Company in 1982.

Highlights from the latest round of drilling included 50 metres at 14.71% TiO2 and 0.83% V2O5 from surface, 37 metres at 14.16% TiO2 and 0.81% V2O5 from surface, and 44 metres at 13.45% TiO2 and 0.71% V2O5 from surface.

The deepest hole was drilled to 90 metres, with the average drill depth 46 metres.

The Medcalf Project is located some 470 kilometres southeast of Perth and comprises three granted exploration licences covering 17.4 square kilometres.

The project lies in the southern end of the Archaean Lake Johnston greenstone belt, a narrow, north-northwest trending belt about 110 kilometres in length.

It is located near the south margin of the Yilgarn Craton, midway between the southern ends of the Norseman-Wiluna and the Forrestania-Southern Cross greenstone belts.

Audalia held A$1.2 million in cash at the end of December 2012.


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