Yellow Rock Resources (ASX:YRR) is well into its reverse circulation and diamond infill drilling program at Gabanintha Vanadium Project in Western Australia.
The 5,400 metre reverse circulation infill drill program is 60% completed, successfully intersecting the vanadium-iron mineralisation in all holes drilled to date.
Gabanintha is already one of the highest grade V2O5 deposits in the world with a JORC Indicated and Inferred Resource of 125.8 million tonnes at 0.7% V2O5, 8.64% TiO2 and 32.60% iron.
Samples from drilling are currently being submitted to a Perth laboratory.
Yellow Rock has pegged Exploration Licence Application E51/1685 that is situated immediately west of the Gabanintha tenement holdings.
The 46.6 square kilometre area appears to contain magnetic anomalies within the mafic to intermediate host sequence and is expected to increase the exploration potential for vanadium, gold and other metals.
The tenement geology is known to contain the Archaean Meekatharra Formation in the form of basalts and komatiites with minor felsic units.
There is also a sequence of Pollele Group rocks belonging to the Greensleeves Formation known for andesitic to rhyolitic volcanic and volcaniclastic units along with ultramafic sills.
In 2012, Yellow Rock conducted successful drilling for Copper and Gold on its tenements.
The 5,400 metre reverse circulation and 900 metre diamond infill drilling program is designed to provide more information on a 2 kilometre section of the Gabanintha vanadium deposit.
This represents approximately 16% of the current resource strike length.
The program will provide samples for metallurgical testing and allow open pit optimisation studies and ore characterisation to begin.
Yellow Rock Resources continues to advance its Gabanintha Vanadium Project with all holes drilled under the infill drilling program so far intersecting vanadium-iron mineralisation.
This program is designed to provide more information on a two kilometre section of the Gabanintha vanadium deposit. This represents approximately 16% of the current resource strike length.
In addition, the company has a new exploration tenement that hosts potential for further vanadium, gold and other metals.
Already, the company has applied for a mining lease application over the deposit.
Share price catalysts ahead are:
- Results from the current infill drilling program;
- Upgrade JORC Resources at Gabanintha;
- Detailed metallurgical sampling to support upgrade to Concept Study mid-year 2015;
- Progress on the Mining Lease application; and
- Engaging with key players in the rapidly developing Vanadium Redox Battery Market.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.