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Significant vanadium resource upgrade at Gabanintha

Significant vanadium resource upgrade at Gabanintha

Significant vanadium resource upgrade at Gabanintha

96% increase in Mineral Resource tonnes at the Gabanintha Vanadium project, strengthening its position as a globally significant high-grade vanadium deposit.

Updated Mineral Resource is now 179.6Mt at 0.75% vanadium pentoxide (V2O5) consisting of:

  • Measured Mineral Resource of 10.2Mt at 1.06% V2O5,
  • Indicated Mineral Resource of 25.4Mt at 0.62% V2O5, and
  • Inferred Mineral Resource of 144.1Mt at 0.75% V2O5.

The Mineral Resource includes a distinct massive magnetite high-grade zone of 92.8 Mt at 0.96% V2O5 consisting of:

  • Measured Mineral Resource of 10.2Mt at 1.06% V2O5,
  • Indicated Mineral Resource of 4.8Mt at 1.04% V2O5, and
  • Inferred Mineral Resource of 77.8Mt at 0.94% V2O5.

The resource upgrade included consideration of additional bulk density results, revised lithology-based ore zone interpretations and revised weathering profiles.

The larger and more robust Mineral Resource supports investigating early startup operations producing vanadium concentrate, ahead of construction of a full-scale production plant.

Next activities to include:

  • Detailed metallurgical test work and processing circuit design to commence immediately;
  • Mining optimisation and scheduling study to follow metallurgical test results, and
  • Pre-Feasibility Study (PFS) on concentration plant to follow metallurgical work.

AVL intends to supply both the vanadium battery market and the steel industry.

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