Australian Vanadium Ltd (ASX:AVL), formally known as Yellow Rock Resources, is focussed on vanadium at its flagship Gabanintha project in Western Australia.
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Yellow Rock Resources sets foundation for lucrative vanadium project
Yellow Rock Resources (ASX:YRR) has underlined the high-margin potential of its Gabanintha vanadium project with an extremely high-grade resource re-estimation.
The revised resource paves the way for upcoming economic studies and feasibility work expected to outline a low-cost operation with strong margins targeting both the battery and steel markets.
Yellow Rock has defined a high-grade zone of 11.3 million ones at 1.1% V2O5 within a measured and indicated resource of 24.7 million tonnes grading 0.8% V2O5.
The total measured, indicated and inferred resource in both low and high-grade domains is 91.4 million tonnes at 0.8% V2O5 and contains 750,000 tonnes of V2O5. This includes a high-grade zone of 56.8 million tonnes at 1% V2O5 for 563,000 tonnes of V2O5.
The extremely high-grade nature of this resource, which contains 200,000 tonnes of V2O5, and includes a substantial high grade zone over 1% in grade, highlights the strong potential for Gabanintha to be a world-class vanadium project with critical mass and low costs.
The result helps underpin Yellow Rock's aim to produce 8,000 to 10,000 tonnes a year of vanadium, equal to 10% of current total global vanadium output.
Economic studies are expected to begin early next year with a view to initiating a full Definitive Feasibility Study by mid-2016.
This work will include detailed metallurgical studies to determine the optimum processing route for making Gabanintha vanadium suitable for sale to the high-tech battery industry.
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