Bushveld Minerals LTD (LON:BMN) has corrected the resource numbers for its Brits vanadium project in South Africa.
The overall resource estimate of 66.8mln tonnes at an average grade of 1.58% V2O5 in magnetite remains unchanged.
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However, the attributable resource numbers have been readjusted to take account of Bushveld’s 62.5% ownership in Brits.
Previously, the attributable resource had been calculated using the same 74% ownership level that Bushveld has for its major project, Vametco.
The new number for the attributable indicated resource is 28mln tonnes of ore, giving 129,000 tonnes of V2O5.
The new attributable total indicated and inferred resource is 41.8 mln tonnes, giving 195,800 tonnes V2O5 in magnetite.