JOHANNESBURG (miningweekly.com) – A recent mineral resource estimate on mineralisation identified in the hanging wall of Bushveld Minerals’ Main Magnetite Layer (MML) vanadium project, in Limpopo, has added 68.7-million tons of inferred mineral resources at a cut off of 25% iron, with an average grade of 28.8% iron and 0.75% vanadium pentoxide.

The total mineral resource now stood at 120.5-million tons at a cut off of 25% iron for the combined inferred and indicated mineral resource, representing an increase of 130% in the project’s reported tonnage.

Pending metallurgical testwork, potential remained to define additional mineral resources on other layers, the company said on Monday.

“The initial 52-million-ton indicated mineral resource announced for the project – on which we have recently completed a scoping study – is already a world-class deposit with exceptional in situ grades of 1.48% vanadium pentoxide and in-magnetite grades of 2.01% vanadium pentoxide.

“This update comprises the layers within the hanging wall package of the MML, which was assumed in the recent vanadium project scoping study to be mined as waste and stockpiled to access the MML itself,” commented CEO Fortune Mojapelo.

Based on iron and vanadium pentoxide, certain layers in the hanging wall could be included in the project's total mineral resource inventory and would improve the overall tonnage of the project.

The MML hanging wall mineral resource had been estimated to a vertical depth of 120 m and was open at depth, which presented further scope for tonnage increases in the future.

“In addition, this mineral resource update excludes several layers with average grades of 0.3% vanadium pentoxide within the hanging wall package. If metallurgical testwork demonstrates economic recoveries, these layers could also significantly increase the overall tonnage,” he noted.