Venus Metals, known for its wide ranging portfolio of gold and battery-associated metals exploration projects in Western Australia, recently announced the completion of a resource definition drilling program at the Youanmi vanadium oxide project based in South of Sandstone in Western Australia. About 6000 meters of shallow RC drilling was completed on a tight grid spacing up to 400 meter wide and over nearly 2 km of strike on the strongly oxidized ore system. This was being done for preparing to update the estimate of mineral resource for the project that presently rests at 110.6 million tonnes grading 0.3 percent vanadium in the classification category that is the lower confidence inferred segment. Venus Metals would be able to convert a major part of the inferred resource into an indicated and measured oxide resource with the help of the detailed drill out. The oxide resource is then used for optimizing ore reserves and could result in initializing detailed economic studies.
The drilling has delivered sample that is greater than 100 tonnes for advancing the metallurgical test work studies on the vanadium oxide ores from the Youanmi project. The company had also unveiled spurring exploratory metallurgical work on oxidized ore composites that consist of vanadium recoveries, 70 percent of which are obtained from simple acid leach test. The test proved beneficial as it managed to suck out most of the valuable cobalt, nickel, and copper credits. Venus aims to complete a potential study for treating 5 million tonnes per annum of oxidized ore at grades of 0.3 percent or higher vanadium pentoxide, at Youanmi.
Matthew Hogan, the managing director of Venus Metals, said that they are pleased with the timely completion of the project in the said budget. The company would be able to optimistically progress to the next phases of metallurgical testing and scoping studies with the updated JORC 2012 resource calculation, he further added.
Ongoing Assessment Reflects Increasing Demand for Vanadium
The use of vanadium along with iron referred to ferrovanadium for producing hardened steel has been reflecting major growth. According to a recent ongoing research conducted by Future market Insights, the demand ferrovanadium is expected rise substantially in the forthcoming years. With the increasing projects such as the one completed by Venus Metals that foster the recovery of vanadium, achieving a balance between demand and supply would be simpler to achieve. As ferrovanadium contains vanadium in the quantity ranging from 35 percent to 85 percent, with regards to the application of the product, the demand for vanadium remains a focal point for providers.
The ferrovanadium market illustrates various developments like these with respect to the present and future market scenario and provides key insights that help in effective decision making, which could be availed here.