Hardey has paid A$75,000 for an option and if it likes what it will see it'll issue the vendors of Nelly the equivalent of 35% of the expanded capital of the ASX-listed stock.
Nelly operated between 1949 and 1957, with the project said to comprise several vanadium-rich polymetallic sheeted vein systems, aligned North-East to South-West, that are 900m-1km long and up to 5.5m wide.
According to Hardey, only one vein was partially exploited "leaving most of the deposit intact".
The move by Hardey into vanadium comes with sentiment for the commodity positive on supply shortages/mines closures in China and future demand from the renewable battery sector.
Hardey, which back in Australia also has conglomerate gold propects in the Pilbara and copper ground in ...