PERTH (miningweekly.com) – Junior Audalia Resources is preparing to start work on a prefeasibility study (PFS) at its Medcalf vanadium project, in Western Australia, following a significant upgrade at the deposit.
The ASX-listed Audalia said on Monday that about 72% of the resource was now estimated to be in the indicated category, accounting for about 23-million tonnes at 0.47% vanadium oxide.
This was in addition to an inferred resource of 8.8-million tonnes, grading 0.40% vanadium oxide.
The latest resource statement compared with a maiden inferred resource of 28.5-million tonnes, grading 0.50% vanadium oxide, which was declared in 2013.
The company said the upgraded resource confirmed the potential for the Medcalf project to support a viable mining operation, and underpinned Audalia’s intention to continue development work and to undertake a PFS.