Aura Energy Ltd.'s inferred resource at the Haggan battery metals project in Sweden increased to 15.1 billion pounds of vanadium pentoxide, or V2O5, from 13.1 billion pounds.
The resource is contained in 2.60 billion tonnes at 0.26% V2O5, at a cutoff of 0.10% V2O5, according to a May 23 release.
Modeling work also defined a new, significant, high-grade, near-surface vanadium zone of 90 million tonnes at 0.42% V2O5 at a 0.40% V2O5 cutoff.
Within the new zone, a coherent and large zone of mineralization was defined, comprising 49 million tonnes at over 0.4% V2O5, starting at 20 meters below surface and extending to about 100 meters.
In mid-April, Aura Energy shifted the focus of development at Häggån to vanadium and other battery minerals with less emphasis on uranium due to a surge in vanadium prices, which soared to about US$15/lb, from just over US$9/lb in February.
