ASX-listed exploration company Viking Mines (ASX:VKA) has uncovered ‘high-grade’ rock chip results of up to 1.47% vanadium (V2O5) from the Canegrass Battery Minerals Project in Western Australia.
The company completed a mapping and sampling program as part of the due diligence completed prior to beginning a farm-in agreement with Flinders Mines (ASX:FMS). A total of 35 samples were collected from over 8km of strike along the vanadiferous titanomagnetite (VTM) horizon between the Kinks and Fold Nose Mineral Resource areas.
The assay results range between 0.65% to 1.47% V2O5, and averaged 1.27% V2O5 over the 35 samples collected. The company says the tenor of these results is ‘highly significant’ given that the Fold Nose mineral resource has a grade of 0.66% V2O5, and Kinks has a grade of 0.57% V2O5, demonstrating the system contains ‘higher-grade’ targets and horizons yet to be tested.
Commenting on the rock chip results, Viking Mines Chief Executive Officer (CEO) and Managing Director Julian Woodcock says: “These excellent high-grade rock chip results significantly increase the potential for the discovery of large, high-grade mineral resources at Canegrass.
We have mapped the VTM horizon outcrops for over 8km at Canegrass. Whilst we already have 2 mineral resources at Fold Nose and Kinks, there is excellent potential to materially increase both the tonnage and, more importantly, the grade of the mineral resources here.
We will use the ground magnetics survey to focus into areas with the highest potential as we look to add value with the drill bit by increasing mineral resources, and most importantly, target higher grade mineralisation as seen in the historical drilling.
“Other vanadium explorers in the region have published ore reserve vanadium grades of 0.89% to 1.09% V2O5, so we are confident that we are on the right track at Canegrass”
Other vanadium explorers in the region have published ore reserve vanadium grades of 0.89% to 1.09% V2O5, so we are confident that we are on the right track at Canegrass.”
Viking reports 3 samples collected from outcrop 300m southwest of the Fold Nose mineral resource returned grades up to 1.40% V2O5, demonstrating potential to grow ‘’high-grade’ mineral resources from a ‘significant’ resource base.
With a ground magnetics survey aiming to refine drill targets currently underway, Viking is planning to undertake a preliminary drill program of about 550m at Canegrass in March. This will be followed by the main reverse circulation (RC) drilling program of 4,000m to 5,450m in the June quarter.
Viking Mines is an ASX-listed exploration company focused on the Canegrass Battery Minerals Project in the Murchison Region of Western Australia. The project is located 620km northeast of Perth and covers about 95km-square. Currently, Canegrass hosts an inferred resource of 79 million tonnes at 0.64% V2O5, 29.7% iron (Fe), and 6% titanium (Ti2O).
Other projects held by the company include the First Hit Gold Project in Western Australia, and the Akoase Gold Project in Ghana.
Images: Viking Mines Ltd & iStock
