Bushveld Provides Maiden Mineral Resource Estimate for Mokopane

Bushveld Minerals (LSE:BMN) provided an update for its Mokopane vanadium project in Limpopo, including a maiden mineral resource estimate of 12.5 million tonnes at a grade of 0.7 percent. The update was also in regards to the prefeasibility study and included additional metallurgical testwork results for the AB zone.
As quoted in the press release:

The update comprises the Pre-Feasibility Study and Mining Right Application, as well as an update in respect of the maiden Mineral Resource Estimate and additional metallurgical testwork results for the AB Zone. The additional metallurgical Davis Tube Testwork (DTT) comprised 10 samples from the AB Zone, so as to assess the variability of the in-situ vanadium grade and the potential recovery of vanadium to a titano-magnetite (“Ti-magnetite”) concentrate.  

Highlights:

AB-Zone Mineral Resource Estimate
–    Maiden Mineral Resource Estimate of 12.5 Mt at an in-situ grade of 0.7% vanadium pentoxide (V₂O₅)  for the AB Zone;
–    AB Zone concentrate grades of between 2.01% and 2.65% V₂O₅ with limited variability, and an average grade of 2.21% V₂O₅;
–    Excellent AB Zone vanadium recoveries to concentrate of up to 97.82%; and
–    Significantly higher V₂O₅ concentrate grades in the AB Zone than those previously reported from the Main Magnetite Layer (“MML”).
·     Mokopane Vanadium PFS & Mining Right Application
–    Mokopane Vanadium Project Pre-feasibility Study and Mining Right Application making good progress.

Fortune Mojapelo, CEO of Bushveld Minerals, commented:

The maiden Mineral Resource Estimate and updated metallurgical results confirm our expectations that the AB Zone represents significant upside for the project. The exceptional concentrate grades, in excess of 2% V2O5, are approximately 20% higher than the MML concentrate grades on which the Scoping Study and the Pre-feasibility Study have been based. This represents a significant additional Mineral Resource, and moreover upside from the excellent vanadium grades that the testwork shows we can recover.

Click here to read the full Bushveld Minerals (LSE:BMN) press release.