Speewah Metals Limited (“Speewah” or “the Company”) (ASX:SPM) is pleased to report a significant increase in Mineral Resources of the combined Speewah Titanium/Vanadium deposit within the 100% owned Speewah Project.
The Speewah deposit represents 3 large Resources (Central, Buckman and Red Hill) on the Speewah tenements.
This upgrade represents:
- 32% increase to the total combined Resource at Speewah;
- 34% increase to the Measured and Indicated Resources at Speewah.
The total combined Mineral Resource has been updated to include all three deposits at Central, Red Hill and Buckman. The combined Measured, Indicated and Inferred Resource total is 4.7 Billion tonnes at 0.30% V2O5 and 2% Ti (at 0.23% V2O5 cut-off grade) in the three deposits, comprising:
- Measured Resource of 322 Mt at 0.32% V2O5 and 2% Ti;
- Indicated Resource of 1,054 Mt at 0.33% V2O5 and 2% Ti, and
- Inferred Resource of 3,335 Mt at 0.29% V2O5 and 2% Ti.
The Mineral Resource estimation has been undertaken by Runge Limited (“Runge”). It includes assay results from the latest phase of drilling completed in 2011. The Resource tonnes, grade and classification have been estimated at a block model cut-off grade of 0.23% V2O5.
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