Aura Energy Reports 90 Million Tonne Vanadium Zone at Haggan

Aura Energy Limited (ASX:AEE,LSE:AURA) announced the results from its wholly-owned Häggån battery metals project in Sweden. The company reports the orebody modelling study has defined a significant high-grade Vanadium zone close to the surface, which has resulted in a new overall resource estimate.

As quoted from the press release:

The orebody modelling, which confirmed the global resource of 15.1 billion lbs V2O5, was also designed to review the potential for higher grade vanadium zones in the Häggån deposit at a range of cut-off grades. Importantly, the modelling work defined a new significant high-grade near-surface Vanadium zone of 90 million tonnes at 0.42 percent V2O5 at a 4000 ppm cut-off.

“The discovery that a large high-grade vanadium zone exists close to surface in the Häggån deposit provides a significant boost to the economics of this Battery Metals project. Clearly, this newly defined high-grade zone provides an excellent location to start an open pit which will result in the rare event of mining the best ore grades from the very start of the project,” said Peter Reeve, Aura’s executive chairman.

Häggån is a large poly-metallic deposit containing economically significant levels of V (vanadium), Ni (nickel), Zn (zinc), Mo (molybdenum) and other Battery Metals. Resource estimates were previously conducted and reported on the Häggån Project in 2010, 2011 and 2012 and since then additional infill drilling has been carried out.

With the recent dramatic rise in the price of vanadium, the principal focus for the Häggån project was altered and Aura commissioned a new vanadium resource estimation exercised by H&S consultants.

Click here to read the full press release