Australian Vanadium Upgrades Resource Estimate for Gabanintha Project

Australian Vanadium Ltd. (ASX:AVL) announced a significant resource estimate upgrade for its Western Australia-based Gabanintha vanadium project.
As quoted in the press release:

The updated Measured, Indicated and Inferred Mineral Resource is 179.6 million tonnes (Mt) at 0.75% V2O5 which includes a Measured and Indicated Mineral Resource of 35.5Mt grading 0.75% V2O5.
This updated estimation represents a 96% increase in the overall Resource, a 46% increase in the Measured Resource, a 43% increase in the Indicated Resource and a 116% increase in the Inferred Resource categories for the Project compared to the 2015 estimation.
There is extensive potential to convert Inferred Resources to the Measured and Indicated categories at Gabanintha with additional targeted drilling.

Vincent Algar, managing director at Australian Vanadium, commented:

This significant revision of the detailed geology and extent of Gabanintha undertaken by our team and consultants gives us the firm foundations on which to move another step closer towards building an outstanding Australian project.
We have the tonnage, the high grade and the close proximity to infrastructure. In addition, our timing in respect to supplying the rising vanadium market looks to be ideal.
We will now look to confirm the metallurgical and economic aspects of the project while also developing our understanding and inclusion of vanadium electrolyte production capacity and increased vanadium flow battery sales.

Click here to read the full Australian Vanadium Ltd. (ASX:AVL) press release.