Critical Minerals Group (ASX:CMG) has released received ‘positive’ drill results including uncovering alumina content at its flagship Lindfield Project, 295km-square tenement in Northwest Queensland located near the town of Julia Creek.
Speaking to Mining.com.au ahead of the Brisbane Mining Investor Conference on 22-23 March where he will be presenting, Managing Director and CEO Scott Drelincourt says drilling at Lindfield continues to shore up belief Critical Minerals Group has an attractive vanadium asset worth pursuing.
“The results from the drilling program have been very positive for the company on multiple fronts – one, every core hole intersected at the is deposit showing consistent thickness and grade across the Lindfield Project; two, the assay results for drilling program show that every hole has stand out assay grades.”
The aim of the recent drilling program was to assist with resource generation and to give more confidence in the mineralisation boundaries, depth, and grades, which will guide the company’s mining and pit shell design. The program was also designed to improve understanding of significant alumina within Lindfield and to capture and analyse the grade and depths of the included material as a secondary value commodity.
Drelincourt tells this news service the alumina content discovered in the Lindfield Project potentially opens up a whole new ‘high value’ product.
“The potential to have a dual commodity project will significantly benefit the Lindfield by adding another revenue stream and further de-risk the project from commodity price fluctuations.”
“The potential to have a dual commodity project will significantly benefit the Lindfield by adding another revenue stream and further de-risk the project from commodity price fluctuations”
Potential for a dual commodity deposit at Lindfield includes significant alumina (potential HPA feedstock) results, as well as vanadium including LIND019 1m thick, grading at 18.9% Al2O3 from 1.8m depth. Standout higher grade V2O5 assays include hole LIND011 15.89m – 16.22m @ 0.70% V2O5; LIND016 6.50m – 6.90m @ 0.62% V2O5; and 6.90m – 7.05m @ 0.65% V2O5.
Critical Minerals Group has accelerated commencement of the Scoping Study, which the CEO expects to take about 4 months. Pending the recommendations from study and initial work on the pilot plant the company will then asses the timing for a Prefeasibility Study (PFS).
The Brisbane Mining Investor Conference is an investor event launched in 2018 that provides investors, brokers, and fund managers a better understanding of current investment opportunities in Australia’s mining, energy, and exploration sectors.
Drelincourt says Critical Minerals Group will use the event as a platform to reach new audiences and show investors the “exciting pathway the company has outlined as a battery minerals development company”.
Write to Adam Orlando at Mining.com.au
Images: Critical Minerals Group Ltd