Australian Vanadium Ltd. secured a new exploration license adjacent to its Gabanintha vanadium mineral resource in Western Australia.
The 49.7-square-kilometer license is prospective for extensions to the Gabanintha vanadium deposit and for gold, copper and uranium.
The company now holds over 240 square kilometers in eight exploration licenses in the Gabanintha area, it said Sept. 10.
Australian Vanadium completed the first phase of a reverse circulation program and kicked off diamond drilling at the project.
In early July, the company estimated an initial inferred cobalt-nickel-copper resource at Gabanintha of 12.5 million tonnes grading 206 parts per million cobalt, 659 ppm nickel and 222 ppm copper.