Vanadium Resources: Completes maiden ore reserve for Steelpoortdrift project
- Vanadium Resources (VR8) has completed a maiden ore reserve for its 50 per cent owned Steelpoortdrift Project in South Africa
- The vanadium project has a total ore reserve of 73.85 million tonnes at 0.75 per cent vanadium pentoxide for 560,000 tonnes
- The high-grade portion of the ore reserve totals 40.25 million tonnes at an average grade of 0.96 per cent vanadium pentoxide
- Of this, 31.17 million tonnes are in the proven category, with the remaining balance sitting in the probable category
- The ore reserve is based on the recently completed pre-feasibility study and the company will now proceed to completing a definitive feasibility study
- The company shares are trading steady at 5.7 cents
