The company completed a five-hole diamond drilling program at the Abenab project in July 2019 which was designed to in-fill and extend the existing resource.
Assay results for four holes have now been reported leaving only the assay results for one further hole.
Hole ABRCD011 was drilled to a depth of 358 metres and over 80 metres of vanadium pentoxide mineralisation above the cut-off grade was intersected.
Chairman Michael Minosara said: “Assays from the resource definition drilling program at Abenab continue to generate excellent results.
“Hole ABRCD011 has intersected multiple wide intersections of vanadium mineralisation totalling more than 80 metres with an exceptional peak value of 7.84% vanadium pentoxide, the highest value so far from the Golden Deeps drill program.”
Multiple zones of brecciated dolomite and limestone with calcite fracture fill containing descloizite were intersected including:
- 23 metres at 1.34% vanadium pentoxide, 3.33% lead and 1.25% zinc from 167 metres;
- 16 metres at 0.56%, 1.30% and 053% from 274 metres; and
- 15 metres at 0.29%, 0.65% and 0.32% from 292 metres.
80 metres of vanadium pentoxide
In total, the hole intersected more than 80 metres of vanadium pentoxide mineralisation above the cut-off grade of 0.2%.
A 1-metre interval from 186 metres returned an ‘exceptionally’ high-grade of 7.84% vanadium pentoxide, 19% lead and 6.52% zinc.
Results for ABRCD012, the final hole of the resource definition drill program are pending.
Additionally, 95 channel samples were taken from the south wall of the pit to follow-up encouraging vanadium intersections in holes ABRC019 and ABRC020.
Results of these samples are also pending and will be reported when available.