Follow up diamond drillhole MND003 intersected the magnetite...

Follow up diamond drillhole MND003 intersected the magnetite bearing intrusion below an interpreted pegmatite and continued through to the eastern or hangingwall contact of the mafic intrusive, producing an overall intersection of 129m @ 0.23% V2O5, 23.29% Fe and 11.51% TiO2 from 53m downhole. Within this intersection, a strong basal intercept of 25m @ 0.47% V2O5, 40.8% Fe, 24.0% TiO2 from 53m was intersected

The high grade V2O5 and TiO2 mineralisation within the basal sequence of the intrusive is higher grade than the mineralisation at the Youanmi Vanadium Project of Venus Metals (ASX:VMC) within the same mafic complex 20km to the northeast of the Manindi Project and similar to the high-grade Australian Vanadium (ASX:AVL) and Technology Metals Australia (ASX:TMT) deposits near Meekatharra, 300km to the northwest.

The high-grade titanium (TiO2) intersection in MND003 demonstrates potential for ilmenite mineralisation within the basal intrusive. Ilmenite should separate from the vanadium bearing magnetite and represents a saleable titanium product. This would also generate an increased concentration of vanadium bearing magnetite product for downstream processing (to produce high-value vanadium pentoxide, V2O5). Mineralogical work will be undertaken to determine the titanium and vanadium mineralogy prior to initial metallurgical testwork to generate potentially saleable products.