This from Dec quarterly. The project tenements cover 1,550km2 of...

This from Dec quarterly.

The project tenements cover 1,550km2 of Cretaceous Toolebuc Formation which hosts an historic 3.3 billion tonne vanadium – molybdenum Resource (JORC 2004) grading 0.40% V2O5 and 295g/t MoO32.

During the September Quarter AXF collected approximately 1.2 tonnes of vanadium mineralisation material for dispatch to research laboratories in China to conduct detailed metallurgical testwork3. The bulk of the material arrived in Beijing in October 2017 and a smaller sample of 100kgs was dispatched to a second research institute in Changsha (Central China).

Material was dried and crushed prior to the Stage 1 round of testing which commenced in November. A Senior Project Engineer from AXF relocated to China to oversee work by representatives of the both institutes. The Stage 1 tests are focused on pre-treatments and protective-treatments using in-house developed technology and know-how for the Richmond style of material.

Results from Stage 1 are expected in the June Quarter. In addition to account for recent changes to tenement boundaries and JORC reporting, the compilation of an updated Mineral Resource Estimate has commenced and is expected to be completed in the March Quarter.

https://hotcopper.com.au/threads/ann-quarterly-activities-report-31-december-2017.3986266/#.WqedgE0Uk5s


IRC chart setting for a big leg up with or without Vanadium.

Cheers HT