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Bushveld Minerals encouraged by vanadium recoveries

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Bushveld Minerals (LON:BMN) has found more signs of vanadium from development at its project in the Limpopo province in South Africa.

Three boreholes have been completed in the AB drilling zone with a 20 metre intersection in one of the holes. Results from magnetic separation also showed "excellent" concentrate grades with V2O5 recoveries of greater than 90%, Bushveld said.

The metallurgical work was carried out by SGS Laboratories in South Africa and Bushveld will use the information to determine an optimal grind size for the ore.

Fortune Mojapelo, Bushveld’s chief executive, said he was pleased with the progress and the company will continue to target a maiden mineral resource for the AB Zone.

Elsewhere, Mojapelo said that work on the flagship P-Q iron ore project is progressing though the planned resource upgrade has been affected by administrative delays in executing the amended prospecting right for the extension of the prospecting area under Bushveld’s licence.

“We remain confident that the geological basis for the resource upgrade remains intact and that the amended right, which has been granted, will be executed in the near future. We will proceed with the resource upgrade, as intended, thereafter," said Mojapelo.

In tin, the Mokopane scoping study will now be released this quarter following the completion of the financial modelling currently underway, Bushveld said.

Quick facts: Bushveld Minerals Ltd

Price: 19.9 GBX

LSE:BMN
Market: LSE
Market Cap: £229.44 m
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Investor Update: Bushveld Minerals granted mining permit for Mokopane

Headlines from the Proactive UK newsroom. Bushveld Minerals (LON:BMN) has been granted a mining permit for its Mokopane deposit in South Africa.  Mokopane is one of the world's largest primary vanadium resources.  Shield Therapeutics (LON:STX) is to present data further...

on 22/10/19

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