Australian Vanadium Ltd
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 strikes highest vanadium grades ever at Gabanintha
Yellow Rock Resources (ASX:YRR) has intersected the highest vanadium grades of up to 2.2% V2O5 at its Gabanintha Project near Meekatharra, Western Australia, pointing the way for a resource upgrade.
A resource estimation update is underway along with metallurgical testing as the project advances towards feasibility studies.
The diamond drilling confirmed Gabanintha's status as one of the highest-grade projects being advanced globally with assays from the 8 drillholes confirming the presence of robust widths of the high grade vanadium magnetite layer seen throughout reverse circulation drilling.
This includes up to 14 metres at 1.44% V2O5 from 131 metres including 7 metres at 1.76% from 135 metres in GDH913.
In addition, the top intersection of 2.2% V2O5 exceeds the highest grade previously seen at the project of 1 metre at 2.15% V2O5.
The updated resource estimate is expected before the end of the September Quarter.
Analysis
The combined diamond and reverse circulation results from the 2015 programs at Gabanintha point strongly to a resource which is comparable to other world class deposits currently in production or in development elsewhere in the world.
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