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 steps up pace at Gabanintha Vanadium Project
Yellow Rock Resources (ASX:YRR) is stepping up the pace at its Gabanintha Vanadium Project in Western Australia after recording the highest vanadium grades ever recorded at the project from drilling.
As a result, an update to the mineral resource estimate is underway and should lead to a boost in the vanadium resource at Gabanintha.
During the last quarter's drilling, Yellow Rock intersected grades measuring as high as 2.20% V205 while RC results had no less than 15 individual assays grading over 1.50% V205 in seven different drill holes.
While deeper diamond drill results found the presence of widths of a high-grade vanadium magnetite layer seen throughout the RC drilling, including a bumper 14 metres intercept at 1.44% V205 from 131 metres.
The consistency and predictable geology of the high grade vanadium magnetite zone and consistent thickness was impressive.
With grades well above 1% V2O5, with high iron and titanium content, should finally see Gabanintha ranked as a deposit that is comparable to global development and production projects.
Analysis
In all, an impressive growth period for Yellow Rock looks set to continue as it has also completed requirements for the application for a Mining Lease to cover the Gabanintha Vanadium Deposit.
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2017-05-05
