Liontown Resources Ltd. said July 30 that it outlined a maiden resource at the Cambridge deposit, part of the Toolebuc vanadium project in Queensland, Australia.
The inferred resource for the deposit stood at 83.7 million tonnes grading 0.30% vanadium pentoxide, using a 0.25% cutoff grade.
Results from historical drilling conducted by Intermin Resources Ltd. in 2008 was used as basis for the initial resource estimate for the Cambridge deposit, the company said. The area including the Cambridge deposit was relinquished by Intermin in 2015, which was subsequently acquired by Liontown in mid-2017.
A further drilling program will be conducted to extend the mineral resource, which remains open in all directions.