- VKA states that the JORC Exploration Target Estimate is calculated and reported as a range between lower and upper limits
- The Exploration Target Estimate comprises six target areas, extending and linking the existing Mineral Resource Estimates at Fold Nose and Kinks deposits
- Multiple high-grade drillholes intersected in recent and historical drilling are likely to add to the average grade of the estimate
- The company expects to finalise the ongoing 6,000m drilling programme in July
ASX-listed Viking Mines Ltd (ASX: VKA) -- working on the Western Australia-located Canegrass Battery Minerals Project which hosts Vanadium Pentoxide (V2O5) -- has informed about the outcome of the Exploration Target Estimate (ETE) completed at the Canegrass Project.
The ETE identified "significant upside growth potential", says the company. The summary of ETE by target area is in the below picture.
Source: Company update
The current Inferred Mineral Resource Estimate is 79Mt at 0.64% V2O5 for 1.1 billion pounds vanadium pentoxide.
VKA confirms that the ETE comprises six target areas (extending and linking the two existing Mineral Resource Estimates) at Canegrass. It is mentioned that the company’s Board is encouraged by the outlook for vanadium, especially in terms of vanadium redox flow batteries.
More to come…