miningnews article

Accent plays up vanadium finds


Friday, 23 March 2007

JUNIOR play Accent Resources has said in a market announcement that the assay results from its sampling program at Katanning in Western Australia have confirmed a new vanadium province for the state.



The Perth-based company said 44 samples were collected from 12 magnetic anomalies in the Katanning area and were analysed for vanadium, titanium and iron, covering an area of 500 square kilometres.

Of the 44 samples, all but four returned values greater than 500 parts per million vanadium and titanium, with the highest result of 0.81% vanadium, 8.4% titanium and 53% iron from a magnetite outcrop 6km east of Katanning.

The company also reported that the highest samples were from rock outcrop and float samples with abundant magnetite, while the lower value samples were from laterite with reduced iron content.

The lower value samples still had significant vanadium and titanium values and "represent promising exploration targets" alongside the higher value samples, the company also said.

"The assay results confirm earlier work by our joint venture partners that the Katanning-Woodanilling area is a new vanadium province for Western Australia," Accent said. The company did not reveal further details of its joint venture partner or any previous exploration programs in the area.

The market responded positively to Accent's announcement, boosting its shares by 25% or 3c yesterday to 15c. The stock had shed 2c by midday today.