News: Yellow Rock Resources heads to market

Yellow Rock Resources (ASX:YRR) is focussed on one of the highest grade vanadium deposits in the world, which is located at the wholly-owned Gabanintha project in the Murchison District of Western Australia.

The company is currently heading to market with a capital raising. The ASX has granted a trading halt.

The experienced Lorry Hughes was appointed as CEO in June 2014.

Gabanintha is 600 kilometres from the port of Geraldton and 200 kilometres from the Windimurra Vanadium Mine.

The project hosts a JORC Indicated & Inferred Resource of 125.8Mt at 0.70% V2O5, 8.64% TiO2 and 32.60% Fe including a separate high-grade Indicated & Inferred Resource of 60.4Mt at 0.98% V2O5, 11.40% TiO2 and 42.15% Fe.

Adding to the potential of the project, the deposit is at surface and could be open-pittable.

Other benefits are simple and inexpensive mining costs, with strong potential to extend the resource at depth.

There is no significant environmental impediments identified for future mining activity.

The halt will last until the opening of trade on Monday 21st July 2014, or earlier if an announcement is made to the market.