Australian Vanadium welcomes grant of Tumblegum South Mining Lease to Bryah Resources
The Tumblegum South Project is progressing through its final stages of evaluation in readiness for mining, targeting first production as soon as 2021.
Company
ASX:AVL
Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) is a resource company focused on vanadium, seeking to offer investors a unique exposure to all aspects of the vanadium value chain – from resource through to steel and energy storage opportunities. The company is advancing the development of its world-class Australian Vanadium Project at Gabaninthaoject near Meekatharra, which is among the highest-grade vanadium projects in the world. VSUN Energy is AVL’s 100% owned renewable energy and energy storage subsidiary which is focused on developing the Australian market for vanadium flow batteries for long duration energy storage.
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The Tumblegum South Project is progressing through its final stages of evaluation in readiness for mining, targeting first production as soon as 2021.
Testing has included APV and AMV production routes, allowing optionality in the BFS to simplify the refinery circuit and potentially lower capital and operating costs.
The company is advancing the Australian Vanadium Project at Gabanintha towards completion of a bankable feasibility study in mid-2021 and is strongly focused on the project’s ability to become the lowest-cost primary vanadium producer.
The company has signed a one-year extension to an option agreement for land to locate its processing plant near Geraldton and reaffirmed the benefits of the coastal location strategy.
New director Cliff Lawrenson joins AVL directors Vincent Algar, Leslie Ingraham and US-based vanadium expert Daniel Harris, who has more than 40 years of global vanadium experience including processing and operation.
The placement attracted strong interest from existing shareholders and new investors, with the funds set to accelerate delivery of a bankable feasibility study for the company's flagship project.
New tenement applications will strengthen the landholding at the collaboration to cover 111.6 square kilometres about 29 kilometres from the Julimar nickel-PGE discovery of Chalice Gold Mines.
The company has compiled most of the available geological and geochemical information for the Coates Project which will guide future exploration.
As part of the MOU, Australia’s first grid-connect ready residential VRFB has been ordered from Chinese technology enterprise CEC and is due to be delivered to the Port of Fremantle in late October 2020.
The MOU establishes the framework for supply of vanadium pentoxide and vanadium electrolyte for CellCube vanadium redox flow batteries (VRFBs).
The grant of the mining lease further creates a solid foundation for completion of the project’s approvals to begin mining operations.
The ability to sell the iron-rich calcine material could have positive economic impacts on the development of the Australian Vanadium Project.
The new mining licence application, complements and extends AVL’s position over the deposit at Gabanintha.
The company aims to lower operating and capital costs for its high-grade Australian Vanadium Project in Western Australia's Mid-West.
The results from the research project are expected to have a positive impact on operating costs for the company's Australian Vanadium Project.
The company is adapting a proven industrial technology to modify and improve the traditional vanadium salt roast processing techniques as it moves to deliver The Australian Vanadium Project near Meekatharra in Western Australia.
Results of the drilling will fulfil the planned objectives, being to significantly increase the potential mine life or scale of the project to beyond the current 17 years as defined in the PFS and to enable better-informed decisions on the
The letter of intent is with a subsidiary of the world’s third largest vanadium producer, HBIS Group Chengsteel.
Surface sampling in 2018 and 2019 confirmed significant vanadium content with values up to 1.59% vanadium pentoxide.
Productivity for this month’s phase II 30-hole RC drilling program was high with an average meterage of 292 metres per shift.