Venus Metals Corp. Ltd. updated vanadium resources at its Youanmi property in Western Australia, outlining a total of 134.7 million tonnes grading 0.34% vanadium pentoxide.
Consequently, the measured, indicated and inferred resources contain 458,900 tonnes of vanadium pentoxide, using a 0.1% cutoff grade.
The company said March 18 that the large measured resource status enables it to proceed with metallurgical test work and scoping studies to rapidly advance the project.
Venus will conduct further drilling to define a mining reserve and will target drill additional 25 kilometers of the mineralized strike.
The company started a 6,000-meter, reverse circulation drilling program at Youanmi in November 2018. It upgraded its near-surface gold resources at the project in July 2018, outlining 10.1 million tonnes grading 1.65 g/t for 532,700 ounces in the indicated and inferred categories.