AMN - NAMIBIA: 40-tonne vanadium sample sent to China

Golden Deeps Limited has sent a 40-tonne sample of material from the Abenab Vanadium-Lead-Zinc Project in Namibia to Chinese joint venture partner Generous Metals Company Limited (GMC) for test work. This program is designed to test the bulk sample of vanadium, lead and zinc mineralised rock, tailings and willemite for concentrating and downstream refining.

The sample has arrived in China for initial test work which forms part of the stage two program of the joint venture agreement between the parties.

Commencement of the stage two test work has been delayed owing to an initial Chinese customs clearance issue which has now been resolved, followed by the subsequent widespread disruptions caused by the coronavirus, in addition to the Chinese New Year.

Notwithstanding the delays, Golden Deeps’ work with GMC under the JVA continues positively, with GMC responsible for all costs agreed under the JVA.

In parallel with this agreement, Golden Deeps continues discussions with a number of vanadium refineries in relation to third-party refining of the high-grade concentrate.

Samples of the concentrate received from Mintek have been sent to these vanadium refineries.

On the ground in Namibia, the company continues with its mapping and sampling programs at Abenab to evaluate the surface mineralised materials at the historic mine. These materials include mineralised rock around the existing Abenab open pit and tailings.

The company will generate an estimate of the volume of the surface mineralised material incorporating earlier RC drilling, auger and pitting program results.

At this stage, an initial review of the results indicates a very material increase in the mineralised rock and tailings committed to the GMC JV.

A detailed review of the data is in progress in conjunction with the company’s geological consultant to generate the most accurate volume/tonnage estimate possible with the data available.

Pending the result, Odex drilling of the coarse mineralised stockpiles may be conducted to generate a JORC-compliant resource. Odex is a casing advance percussion drilling technique specifically designed to drill test loose material without contamination.

Golden Deeps notes that vanadium pricing has strengthened following an extended period of sideways movement. Furthermore, the company believes that the strengthening of the vanadium pricing is a result of high-cost vanadium producers ceasing production and thereby reducing supply.

www.goldendeeps.com