We are now waiting for the results of latest sampling of Watson’s Well Vanadium project which was mentioned on the company anns. Aug. 6 2018. I think it's long overdue now. When we get these results then the drilling is imminent.
The company has done a follow-up detailed field mapping and sampling commenced in the second week of August 2018 on a central priority zone (refer to Figure 2).
The zone has been identified based on aeromagnetic data that was re-processed by SFM’s consultants.
The strong magnetitic signature located within the central section of the Watsons Well prospect is interpreted to be related to a zone of intense magnetite layering and prioritised as the first location to start exploration development and drilling.
Based on the detailed surface mapping and sampling of the outcropping magnetite layering, a drill hole program to generate a key sectional unit and grade profile of the magnetite sequence will be submitted as a Permit of works to the DMP.
The company said that the key objective would be to test similarities observed at the northern Windimurra Vanadium mine, where a significant amount of Vanadium occurs as disseminated magnetite within thicker interstitial Anorthosite layers between the thin high-grade magnetite layers.
If there are those similarities then SFM's drilling will have a great chance to uncover a high grade resource similar to Windimurra vanadium Mine has.
SFM Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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