Battery metals: Rumble ready to rock in the Pilbara with high-grade vanadium
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Rumble Resources (ASX:RTR) has identified nine new priority targets at its Braeside-Barramine project in the Pilbara, with grades reaching as high as 6.75 per cent vanadium and 49 per cent lead.
Given vanadium grades are usually less than 1 per cent, it’s a pretty good result.
More broadly, a suite of geochemical sampling has identified a system which is 60km in strike and 8km in width — but the gargantuan vanadium hit came from a system which extends for 400m and remains open.
All up the company now has 14 targets to explore (five were identified previously) — which will all be further tested with infill geochemical sampling.
After this has been done, the company will then move to test the targets with the drillbit — planning a reverse circulation campaign.
Meanwhile, the first three holes drilled by Pioneer Resources (ASX:PIO) at Dome North have all hit pegmatite down dip from spodumene outcropping. The drilling is being done to follow up on rock chip samples of between 1.4 and 1.99 per cent lithium oxide (from seven rock chip samples at target one), and 1.65 to 3.7 per cent lithium oxide (from 17 rock chip samples at target two).
The drilling at target two hit pegmatite from 175m down hole to termination of 311m. Two further holes were also drilled, hitting 71m of cumulative pegmatite.
About 18.6 per cent of Alpha HPA (ASX:A4N) has been sold off to Australian institutional investors — with the stake a legacy one from when the company was into copper-gold. But with the company now changing focus, it made little sense for the holders to remain in the company, hence the sale. Alpha said the sale was a good sign of corporate interest in the company.
It’s aiming to produce 10,000 tonnes of high purity alumina per year. According to a PFS on the project, it will generate $US199m($293m) in free cash flow each year at peak production — with a capital spend of $149m.