Australian Vanadium Announces High Grade Results From Resource Definition Drilling

BEIJING (Asian Metal) 29 Nov 19 – On November 28, Australian Vanadium Limited reported on assays received from drilling within the current Pre-feasibility Study (“PFS”) pit design, which was undertaken to further refine the structural model and provide additional input to the resource and geotechnical data supporting the pit design.

As reported in October, thirteen RC holes were drilled at the Australian Vanadium Project for 1,224 meters. Results confirm consistency and high-grade of the massive magnetite horizons at the Project, with the highest individual meter assay result returned for this program at 1.44% V2O5 in 19RRC001 from 38 to 39m. Impressively, 16 individual meter assays returned grades over 1.3% V2O5.

Mineral Resource update is underway to incorporate latest RC drill results and diamond drill results from 2019. Plans for drilling throughout the southern blocks have progressed, with heritage surveys completed and priorities defined. Blocks 16, 8 and 15 will be the focus of drilling, with a view to increase the mineral resource category from the current inferred resources to indicated resources.