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Highlights
- Surefire has concluded a hydrogeological assessment of the Victory Bore vanadium project.
- Dewatering rates of the planned open-cut mine are predicted to be low, indicates the study.
- There is no known groundwater dependant ecosystem that can be affected by the proposed mining activities.
- The hydrogeological assessment results would assist in permitting and regulatory requirements.
Australian mining company Surefire Resources NL (ASX: SRN) has shared an exciting update concerning its flagship critical mineral project, Victory Bore. Post the update, the company’s shares jumped over 6% to trade at AU$0.017.
In the latest update, the company reported the completion of a hydrogeological assessment of the vanadium project.
The hydrogeological assessment was undertaken by Rockwater to understand flow rates, groundwater occurrence and impact of dewatering and use of water in the planned mining operation at Victory Bore.
Data source: company update
Details of the mine site
Surefire proposes an open-cut mine at its flagship project, Victory Bore, with a proposed 4Mt per annum mine rate with on-site processing and beneficiation.
According to the company update, vanadium mineralisation at the project extends over a strike length of over 20km, and the initial open cut pit is believed to be around 1,500m long and 100m deep.
The project is located 400km from Geraldton Port in Western Australia.
Data source: Company update
These findings will be included in the pre-feasibility study of the Victory Bore project and adding the progress towards necessary regulatory approvals.
