Australian Vanadium (ASX:AVL) - Managing Director, Vincent Algar - The Market Herald

  • Australian Vanadium (AVL) has begun an eight-hole diamond drilling program at its namesake project in WA
  • The company is testing the project’s southern resource blocks 50 and 60, and will gather metallurgical variability sampling and pit wall geotechnical data
  • The information will then be used in Australian Vanadium’s bankable feasibility study (BFS), which should be completed in mid-2021
  • AVL is confident its project has the potential to become one of the lowest cost primary vanadium producers globally
  • Shares in the company have ended today up 18.2 per cent, trading at 1.3 cents each

Australian Vanadium (AVL) has begun drilling at its namesake vanadium project located in Gabanintha, WA.

A total of eight holes across 895 metres will be drilled using a diamond drill rig, with the program to focus on the project’s southern resource blocks 50 and 60.

These areas were drilled to form an indicated resource category back in December
2019 and the company said they’ve become increasingly important to the project.

This latest drilling program will gather metallurgical variability sampling and pit wall geotechnical data for AVL.

It’ll also follow up on holes completed in 2009 and 2015, which indicate that the weathering of material in block 60 is shallower than northern blocks 20 and 30.

In addition, Australian Vanadium plans to use all of the data from this latest drilling, including the new data, for its bankable feasibility study (BFS).

AVL is confident its project has the potential to become one of the lowest cost primary vanadium producers globally.

The diamond drill program is expected to wrap up in four weeks time, while the company estimates that BFS will be completed by mid next year.

Shares in Australian Vanadium have ended the day up a solid 18.2 per cent, trading at 1.3 cents each.

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