Ann: Resource Estimate Update for Abenab, page-2

The updated total Mineral Resource (see Table 1) is 1.12 million tonnes grading 1.28% vanadium pentoxide (V2O5), 3.05% lead and 1.25% zinc at a cut-off of 0.5% V2O5.

The Abenab mine was considered to be the “world’s richest” vanadium mine. It produced 1.85 Mt of ore at an average grade of 1.05% V2O5 plus lead and zinc. The ore was concentrated by simple gravity separation. The Abenab Concentrator (using both Abenab ore and ore from Abenab West) produced concentrate grading 18% V2O5, 42% Pb and 13% Zn.

In 2012, metallurgical testing of Abenab ore by Avonlea Minerals Ltd, (now AVZ Minerals Ltd1 ), achieved results superior to the results achieved by historical production. A concentrate grade of 21% vanadium pentoxide (V2O5), 53% lead and 15% zinc was achieved using simple modern gravity separation techniques.

The Abenab concentrate has the attribute of exhibiting a uniquely high tenor (or superior vanadium concentrate levels of 20%). This characteristic together with the lack of impurities (from simple gravity separation) enables it to be more cheaply and easily refined into high purity V2O5. Other vanadium deposits are typically magnetite hosted and exhibit a tenor of only 1 to 3% V2O5.


Great JORC update, it's a fabulous magnificient valuable piece of ground what we have here, love to see how capable BOD is to make real value to shareholders, currently this is the commodity with high demand and low supply.