Is this just the tip of the iceberg for Six Sigma’s Chuatsa vanadium project in Zimbabwe?
Date: Oct 9, 2018
Special report: Battery metals explorer Six Sigma said it is just “scratching the surface of what could be a large, high value ore body” after it returned high levels of vanadium, copper, cobalt, titanium and iron from sampling at the Chuatsa vanadium project in Zimbabwe.
Six of the eight surface rock samples at Chuatsa returned vanadium results over 0.68 per cent, and 55 per cent of surface soil samples collected returned vanadium results of more than 0.3 per cent, according to Six Sigma (ASX:SI6).
The sampling program confirmed the excellent results of historical exploration undertaken by major miner Anglo American in the 1960s.
In fact, vanadium levels actually exceeded historical levels, with numerous results above 1 per cent vanadium pentoxide, Six Sigma exploration manager Steve Groves said.
Soil sampling results were “extremely encouraging”, with very high vanadium — but also cobalt, copper, titanium, and iron – recorded.
“We have discovered that elevated levels of cobalt exist across the project which potentially adds significant value to this large, multi-commodity body,” Mr Groves said.
“The fact that most of our samples were soils but still returned high levels of vanadium, copper, cobalt, titanium and iron shows that we are only scratching the surface of what could be a large, high value ore body within good proximity to infrastructure at a time when Zimbabwe is looking for quality resource projects to kickstart it’s economy and provide opportunities for the local population.”
The Chuatsa vanadium project is 140km northeast of the country’s capital on land that has not been explored since the 1960s.
Six Sigma’s due diligence assessment will extend for a period of two weeks now that the final set of assay results from the due diligence exploration program have been received.
