viewBushveld Minerals Ltd

Bushveld Minerals pushing on towards maiden vanadium resource at Brits

Production from the Vametco mine has driven a huge uplift in Bushveld shares over the past couple of years

Three vanadium oxidation stages

Exploration results at the Brits vanadium project, which lies adjacent to the Vametco mine currently being operated by Bushveld Minerals Limited (LON:BMN), have indicated that an eastward expansion of mineralisation is likely.

The aim of the current exploration programme is to provide Bushveld with enough confidence to deliver a maiden mineral resource for Brits before the end of the second quarter of this year.

WATCH: Bushveld Minerals 'still very undervalued' as earnings soar

The sample analysis is derived from 10 boreholes that show that mineralisation at Brits is consistent with the main Vametco orebody in terms of grade and magnetite concentrate.

The weighted average vanadium pentoxide (V2O5) grade for rock is 0.66%, while the weighted average V2O5 grade in magnetite concentrate is 1.66%.

The positive results and high grades demonstrate the deposit's ability to be a future source of raw material for the Vametco plant and future brownfield processing plants.

"We are pleased with the drilling results received to date from our exploration work at Brits,” said Bushveld chief executive Fortune Mojapelo.

“Although, the average grade of 1.66% V2O5 in magnetite concentrate is slightly lower than Vametco, they are still among the highest in the world. The results confirm the continuation of the orebody being mined at Vametco and provide the potential for additional feed tonnages for the Vametco plant and future brownfield processing plants.



Quick facts: Bushveld Minerals Ltd

Price: 13.68 GBX

Market: LSE
Market Cap: £157.73 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bushveld Minerals Ltd named herein, including the promotion by the Company of Bushveld Minerals Ltd in any Content on the Site, the Company...



Bushveld Minerals CEO says growth is still very much part of the story...

Bushveld Minerals Limited's (LON:BMN) Fortune Mojapelo caught up with Proactive London's Andrew Scott on the back of its 2019 results. Bushveld's retained its production guidance for 2020 despite some disruption to its operations from the coronavirus pandemic. Mojapelo says the company has...

1 week ago

2 min read