Consistent High Grade Vanadium Concentrate Produced at Speewah.Mining and exploration company NiPlats Australia Ltd
(ASX:NIP), which focuses on exploring the tenements in the East Kimberley region of Western Australia, has announced significantly higher grades ( 2.48% tenor) in its magnetite concentrates of Vanadium pentoxide. Executive Director Richard Wolanski explains the importance of this for lower downstream processing costs and mine life.BackgroundNiPlats Australia Limited
(ASX:NIP) is a mining and exploration company whose prime focus is the definition and development of its vanadium, platinum and fluorite discoveries in the East Kimberly region of Western Australia (Figure 3). Newly discovered copper and gold prospectively is a major focus in 2010 in addition to completing studies on the vanadium and fluorite projects.The tenements contain a very large vanadium deposit with combined Measured, Indicated and Inferred Resources totalling 3,159 Mt at 0.30% (at 0.23% V2O5 cut-off grade) in three deposits (Figure 4).This includes the Central deposit with Measured, Indicated and Inferred Resources totalling 854 Mt at 0.32% (at 0.23% V2O5 cut-off grade), comprising a Measured Resource of 201 Mt at 0.33% V2O5, Indicated Resource of 175 Mt at 0.32% V2O5 and an Inferred Resource of 478 Mt at 0.31% V2O5 which includes a high grade zone of 434 Mt at 0.37% (at 0.23% V2O5 cut-off grade), comprising a Measured Resource of 115 Mt at 0.37% V2O5 , Indicated Resource of 85 Mt at 0.38% V2O5 and an Inferred Resource of 234 Mt at 0.37% V2O5.In addition, maiden vanadium Mineral Resources have been estimated at the Red Hill and Buckman Prospects. The Buckman deposit contains an Inferred Resource of 1,170 Mt at 0.30% V2O5 (at 0.23% V2O5 cut-off grade), and the Red Hill deposit contains an Inferred Resource of 1,135 Mt at 0.30% V2O5 (at 0.23% V2O5 cut-off grade).The tenements also contain a high-grade, high-quality fluorite deposit with Indicated and Inferred Resources totalling 6.7 Mt at 24.6% (at 10% CaF2 cut-off grade), comprising an Indicated Resource of 4.1 Mt at 25.3% CaF2 and an Inferred Resource of 2.6 Mt at 23.6% CaF2.NiPlats Australia Limited has a 100% interest in three granted Mining Leases (M80/267, M80/268 and M80/269) and two granted exploration licences (E80/2863 and E80/3657) covering 473 km2 located about 110 km southwest of Kununurra. The tenements cover the Speewah Dome where Proterozoic-age Hart Dolerite intrudes older sediments of the Speewah and Kimberley Groups, which has been disrupted by fault and fault splays of the Greenvale Fault Zone that hosts both fluorite and copper mineralisation in the Speewah area.
