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Gibellini vanadium project, US – update

Image of vanadium ore

3rd November 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Gibellini vanadium project.

Location
Nevada’s Battle Mountain region, in the US. 

Project Owner/s
Nevada Vanadium Mining, a subsidiary of Silver Elephant Mining Corp.

Project Description
Vanadium is designated a critical material by the US government, owing to its importance to the defence and energy storage sectors. 

The preliminary economic assessment (PEA) envisages an openpit, heap-leach operation, with average production of 10.2-million pounds of vanadium pentoxide a year over an 11.1-year mine life.

Initial mine development will be focused on the Gibellini deposit, with Louie Hill following nine years later.

Gibellini has measured and indicated resources estimated at 22.95-million tons grading 0.286% vanadium, and inferred resources of 14.97-million tons grading 0.175% vanadium pentoxide.

Louie Hill has inferred resources of 7.52-million tons grading 0.276% vanadium pentoxide. Silver Elephant believes there is an opportunity to upgrade the inferred resources to higher confidence categories through drilling, and to incorporate Bisoni McKay Mineral Resources in future economic studies.

Total vanadium pentoxide expected to be recovered is estimated at 114.6-million pounds a year. Heap leaching will be performed at ambient temperature and atmospheric pressure without preroasting or other beneficiation processes.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 7% discount rate, of $127.9-million and an internal rate of return of 25.4%, with a payback period of 2.49 years.

Capital Expenditure
The initial capital cost is estimated at $147-million, including contingency of 25%.

Planned Start/End Date
Not stated.

Latest Developments
The Nevada Bureau of Land Management (BLM) has approved the project, completing the federal permitting process for what could be the first primary vanadium mine in the US.  

The issuance of the record of decision (RoD) follows a review of the potential impacts of the project, including an evaluation of alternatives and an examination of project- and site-specific mitigation measures.

The BLM selected a renewable-energy alternative for the project, in response to a review by the Environmental Protection Authority and Department of Interior. This alternative includes 6 MW of solar panels and a 10 MW vanadium flow battery, which is expected to provide 100% of the project’s electricity needs.

With the RoD in hand, the company will now concentrate on reducing capital and operating costs.

A 2021 preliminary economic assessment calculated capital expenditure of $147-million and operating cash costs of $4.7/lb of vanadium pentoxide.

Key Contracts, Suppliers and Consultants
Wood Group USA and Mine Technical Services (PEA).

Contact Details for Project Information
Silver Elephant Mining Corp, tel +1 604 569 3661 or email info@silverelef.com.

Edited by Creamer Media Reporter

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