Aim-quoted mineral development company Bushveld Minerals, focused on iron, vanadium and tin projects in southern Africa, has provided 130% resource upgrade update for its Main Magnetite Layer (MML) vanadium project in Limpopo Province, South Africa.
Bushveld Minerals has added a further 68.7mln of inferred mineral resource with an average grade of 28.8% iron and 0.75% vanadium pentoxide. This takes the total to 120.5mln tonnes at an average grade of 35.7% iron and 1.06% vanadium pentoxide.
The additional resource comes from the hanging wall layers of the deposit.
“The initial 52 Mt Indicated Mineral Resource announced for the Bushveld Vanadium Project – on which we have recently completed a scoping study – is already a world class deposit with exceptional in-situ grades of 1.48% V2O5 and in-magnetite grades of 2.01% V2O5. This update increases the Mineral Resource tonnage by 130% through the addition of MML hanging wall layers at ~0.75% V2O5 in situ grade,” said Bushveld Minerals CEO Fortune Mojapelo.
“This update comprises the layers within the hanging wall package of the MML, which was assumed in the recent vanadium project scoping study to be mined as waste and stockpiled to access the MML itself. Based on Fe and V2O5 grades, certain layers in the hanging wall can be included in the Bushveld Vanadium Project’s total Mineral Resource inventory and will improve the overall tonnage of the project.
“The MML Hanging Wall Mineral Resource has been estimated to a vertical depth of 120 m and is open at depth, which presents further scope for tonnage increases in the future, in line with our belief in the scalability of the project. Furthermore, this Mineral Resource update excludes several layers with average grades of ~0.3% V2O5 within the hanging wall package. If metallurgical test work demonstrates economic recoveries, these layers could also significantly increase the overall tonnage,” Mojapelo said.
Bushveld Minerals sees 130% resource upgrade to vanadium project
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