Diamond Joe sparkles

JOSEPH Gutnick plans to add another string to his resource bow with a major thrust into the vanadium market.

The focus on vanadium will be accomplished through Australian Gold Resources Limited, which has accumulated a diverse portfolio of vanadium, nickel-cobalt and gold projects within the Archaean Yilgarn craton of WA. Its total land-holding is now approximately 7,500 square kilometres.

According to AGR chairman and managing director Joseph Gutnick the company holds a strong position at the “margin of the global vanadium market”, which has generated considerable interest from industry stakeholders.

He said the company significantly advanced its vanadium assets during the December 1999 quarter.

At the Youanmi project, further metallurgical testwork returned positive magnetite beneficiation results from transitional ore samples.

Three bulk ore samples reported vanadium pentoxide recoveries between 77 per cent and 80 per cent with the beneficiated magnetite product grading between 1.20 per cent and 1.35 per cent vanadium pentoxide.

At the Buddadoo project, 150 kilometres east of Geraldton, compilation of previous explorers’ data revealed significant vanadium pentoxide mineralisation with excellent potential for the delineation of a significant mineral resource.

At the Narndee intrusion, sixty kilometres south of the Precious Metals Australia Limited/Glencore Inter-national AG owned Windimurra vanadium project, AGR has identified a new vanadium occurrence with a peak assay in rock sample of 1.19 per cent vanadium pentoxide.

In the Pilbara, at Roebourne, the company has secured exploration rights to over 70 per cent of the Andover layered intrusion, considered prospective for vanadium, platinum-palladium and nickel-copper sulphides.

The Andover project displays strong geological similarities to Tanganyika Gold NL’s Balla Balla vanadium project.

Subject to vanadium prices, pundits now consider that Youanmi has the potential to be developed into a major vanadium producer similar to the nearby Windimurra project.

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