Aim-listed vanadium producer Bushveld Minerals expects to deliver a maiden mineral resource estimate for its Brits project, in South Africa’s North West province, before the end of the second quarter.
The project lies adjacent to the company’s Vametco openpit mine and processing facility.
Bushveld is awaiting assay results from three boreholes that were drilled during a ten-hole second phase of exploration drilling. It is expected that these holes will confirm the consistency and continuity of the intermediate seam in the area.
CEO Fortune Mojapelo said the assay results, to date, have reaffirmed the potential for an eastward extension of the current orebody being mined at Vametco and that the sample analysis results from the ten boreholes reported indicate consistency in grade – both in situ and in magnetite concentrate – of the main orebody.
Meanwhile, the company will publish an updated mineral resource estimate for Vametco next week.