Sign up Australia
Proactive Investors - Run By Investors For Investors

Hardey Resources eyes vanadium JORC resource at acquisition targets

Notably, historical drilling results may be used to estimate a JORC vanadium resource.
folder labelled due giligence
Due diligence on the Nelly vanadium mine in Argentina also continues

Hardey Resources Ltd (ASX:HDY) continues to advance its pre-acquisition due diligence on four Queensland projects.

Work has confirmed that all four projects are within an enriched vanadium mineralised zone with significant exploration upside.

Notably, the geology team believes there is adequate historical drilling and sampling data to potentially model a JORC compliant Inferred resource.

READ:  Hardey Resources reveals stockpiles and unexploited mineralisation at Nelly Vanadium Mine

Hardey’s executive chairman Terence Clee said: “The early due diligence findings are highly encouraging, particularly the confirmed prevalence of the Toolebuc Formation across the projects.

“More significantly, the board is delighted with the prospect of being able to model a JORC compliant inferred vanadium pentoxide resource, as this materially de-risks this Queensland projects.”

READ: Hardey Resources appoints consultant to review vanadium mine

The due diligence is part of the proposed acquisition of six prospective vanadium projects in Queensland and the Northern Territory.

It represents a strategic move to expand into Australia and complement the proposed acquisition of the Nelly vanadium mine in Argentina.

This recent pre-acquisition due diligence relates to the four Queensland projects – Sharptooth, Spike, Cera and Petrie.

The vendor of the four Queensland projects is Vanadium Mining

Due diligence has shown that within each project area there are significant, outcropping and below surface, occurrences of the Toolebuc Formation.

The Toolebuc Formation is an oil shale highly prospective for vanadium mineralisation and secondary oil-bearing potential.

Historical drill assays up to 0.58% vanadium

During 2010, around 170 aircore holes were drilled, averaging 30 metres depth, across the north-south trending Spike, Cera and Petrie projects.

These holes have a combined 150-kilometre strike length with widespread elevated vanadium pentoxide grades.

Notably, the Cera project has numerous intercepts exhibiting elevated assay results up to 0.58% vanadium pentoxide.

View full HDY profile View Profile

Hardey Resources Ltd Timeline

Related Articles

Gold
July 17 2018
The hard rock collaboration agreement with Omnia Mining has sent channel samples and rock chips for assay sampling.
map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
1515749109_lithium-periodic-10.jpg
July 23 2018
Savannah Resources has a broad portfolio of assets, including some highly attractive lithium

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use