Date: Dec 12, 2018

The company is targeting low-cost vanadium pentoxide production with the study expected this month.

Australian Vanadium Ltd (ASX:AVL) is finalising a pre-feasibility study (PFS) for the Gabanintha Vanadium Project in Western Australia this month ahead of producing a  definitive feasibility study (DFS) next year with the help of Wood plc.

Last month the company updated the resource for the Mid West region project, reporting 183.6 million tonnes grading 0.76% vanadium pentoxide.

The resource is 50 kilometres from the town of Meekatharra along Meekatharra Road and includes a massive magnetite zone which features 96.7 million tonnes grading 1% vanadium.

Explorers drilled 1,863 metres at Australian Vanadium’s flagship project in 2018, drilling a consistent 3-10 metre-thick zone grading more than 1.2% vanadium pentoxide in 10 of 11 holes.

The massive magnetite layer averages 14 metres in thickness.

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