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Australian Vanadium completes PFS drilling for resource update

The company has also pegged a new 49.7 square kilometre tenement.
RC Drilling at Gabanintha, September 2018
Assays from the RC drill program will feed into a JORC resource update

Australian Vanadium Ltd (ASX:AVL) has completed 14 reverse circulation holes for 1,089 metres at its Gabanintha Vanadium Project in Western Australia.

The drilling is part of the ongoing pre-feasibility study (PFS) and the results will be used to estimate a JORC resource update for the project.

The company has also pegged a new strategic tenement at the southern end of Gabanintha which is prospective for deposit extensions as well as gold, copper and uranium.

READ: Australian Vanadium signs LOI with German battery manufacturer for potential vanadium supply

AVL’s managing director Vincent Algar said: “The addition of this strategic tenement provides AVL with potential to define additional mineral resources and consolidates accessibility to all of our deposits in the Gabanintha area.”

 

AVL is continuing to advance a pre-feasibility study (PFS) for the Gabanintha Vanadium Project with preparation of the initial base case scenario nearing completion.

It is the first step in a series of activities enabling the delivery of a realistic and achievable study, supporting future investment decisions.

Recently, AVL signed a letter of intent (LOI) with a German vanadium redox flow battery (VRFB) manufacturer which could lead to the company supplying vanadium pentoxide and/or vanadium electrolyte.

SCHMID is keen to secure a material supply of vanadium for VRFB batteries and recognises AVL’s Gabanintha project near Meekatharra in Western Australia as a potential source.

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