About time - "Gabanintha Project defines it as the Australia’s highest grade massive magnetite hosted vanadium deposit."
27 January 2009 GABANINTHA VANADIUM PROJECT The directors of Yellow Rock Resources Limited (ASX Code: YRR) are pleased to announce the increase and upgrade in the Mineral Resource for the exciting and unique Gabanintha Vanadium Iron Titanium Project in Western Australia. The completed Resource Statement report on the vanadium iron titanium deposit at the Gabanintha Project defines it as the Australia’s highest grade massive magnetite hosted vanadium deposit. The main points of the report are:
1. An increase in the total Mineral Resource to 151.5 million tonnes from 90 million tonnes (being an increase of 68%) to 100m depth.
2. The total contained Vanadium metal has increased by 30%.
3. The total high grade Resource is now 70 million tonnes at 0.87% V2O5.
4. The identification of shallow scree Resource of 12 million tonnes at 0.43% V2O5 and low grade hanging wall resource of 70 million tonnes at 0.39% V2O5.
5. The Vanadium Mineral Resource is also rich in Iron and Titanium.
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