Date: Nov 28, 2018

Australian Vanadium (ASX: AVL) has shored up more confidence in its flagship Gabanintha vanadium project in Western Australia, with its latest resource upgrade boosting the indicated mineral resource within the high-grade zone by almost 150%.

The total mineral resource for Gabanintha now sits at 183.6 million tonnes grading 0.76% vanadium pentoxide.

Of that, 10.2Mt at 1.11% vanadium pentoxide is classified as measured, while 40.7Mt at 0.66% vanadium pentoxide is indicated, and 132.7Mt at 0.77% vanadium pentoxide is inferred.

The Gabanintha deposit hosts a distinct high-grade zone with that mineral resource also updated to 96.7Mt at 1% vanadium pentoxide.

Within that high-grade section, 10.2Mt at 1.11% vanadium pentoxide fell into the measured category, while 12.4Mt at 1.05% vanadium pentoxide was indicated and 74.5Mt at 0.97% vanadium pentoxide was inferred.

According to Australian Vanadium, the high conversion from inferred resources underpins Gabanintha’s geological and grade continuity.

In addition to increasing the size, Australian Vanadium’s managing director Vincent Algar said the resource update added confidence and further de-risked Gabanintha.

He said the new results will be incorporated in the final pre-feasibility study and the maiden ore reserve, which are scheduled to be released next month.

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