In Case You Missed It: Gold and silver with a dash of vanadium
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Australian Gold and Copper (ASX:AGC) has uncovered a huge, strongly anomalous, 5km-long, gold-silver-and-base-metals trend at Bongongalong – part of the Gundagai project in NSW.
The last time this area was explored, almost 50 years ago, sporadic drilling pulled up lead, zinc and silver over wide intervals.
These hits included higher grade intercepts such as 1.5m at 7.2% Pb+Zn and 100g/t Ag. Gold was not routinely assayed for.
“Such a large, high-tenor soil anomaly is rare, and the drilling completed over 40 years ago was encouraging but insufficient,” AGC MD Glen Diemar said.
“Modern geochemistry and geophysics will help advance this to drill-ready stage.
“It is a huge target that is underlain by Cambian-Ordovician oceanic mafic rock that [is] considered incredibly fertile.”
Australian Vanadium Limited (ASX:AVL) has secured an Australian Government grant of up to $49m to advance its namesake project.
The grant includes Bryah Resources’ (ASX:BYH) collaboration on the recovery of 16.1Mt grading 762ppm nickel, 212ppm copper and 231ppm cobalt from the vanadium tails stream.
BYH, which has retained all the nickel and copper rights over the project, will now be working with AVL to complete a feasibility study to recover them from the tails stream.
Previous metallurgical test work has shown a floatation circuit can make a sulphide concentrate of up to 6.3% base metals copper, cobalt and nickel, BYH CEO Ashley Jones says.
“Importantly, throughout the BFS, AVL has provisioned space in the plant design for the floatation circuit.
“Bryah benefits from the portion of the grant to finalise studies, and benefits from the whole grant as it moves AVL closer to developing the Australian Vanadium Project.”