The overall resource is now just shy of 120 million tonnes grading 0.8% vanadium pentoxide and 9.7% titanium oxide.
The Northern Zone resource increased by 57% from 62.8Mt at 0.8% V2O5 to 98.4Mt at 0.8% V2O5 including an indicated portion of 21.6Mt at 0.9% V2O5.
It contains a high-grade resource within that is 55Mt at 1.1% V2O5 and 9.7% TiO2.
The upgrade was calculated based on the company’s Murchison drilling last year and adds to the maiden resource for the Southern Zone of 21.5Mt at 0.9% V2O5 and 10.1% TiO2.
The junior’s metallurgical consultant, Mineral Engineering Technical Services, is still working through the core recovered from last year’s 13 diamonds holes to assess the best method of recovering vanadium.
Work to date has recovered “outstanding...