Tuesday, November 30, 2021

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Vanadium Resources: Completes maiden ore reserve for Steelpoortdrift project

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
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