ANNOUNCEMENT
HIGHLIGHTS
- New Mineral Resource estimate by Runge increases the Vanadium Resource at Buckman to 1.6 billion tonnes at 0.29% V2O5 and 1.9% Ti including Indicated and Inferred categories based on drilling in 2010, up from previous Resource of 1.17 billion tonnes at 0.3% V2O5 and 2% Ti.
- Included in this estimate was the maiden definition of Indicated Resources at Buckman of 651 million tonnes at 0.3% V2O5 and 2% Ti, which has resulted in a 170% increase in the combined Measured and Indicated Resources from all deposits on the Speewah tenements;
- Total combined Resources at Speewah now 3.6 billion tonnes at 0.30% V2O5 and 2% Ti;-
- Drilling planned for 2011 to test for an additional Exploration Target of 2 - 5 billion tonnes at 0.30-0.32% V2O5 and 1.8-2.0% Ti at Speewah;
- Exploration Programme initiated with the construction of road and access tracks commenced at Speewah;
- Heli-borne EM survey to be flown in June, with drilling planned to commence early July 2011.
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