Syrah Resources (ASX:SYR) reported first infill drill assay results from the Ativa Zone in the Balama graphite and vanadium deposit. Results clearly indicate that the Ativa Zone was intercepted where expected. This infill drilling is designed to upgrade the Inferred Resource into Indicated Resource status.
As quoted in the press release:
Best intercepts include:
– BMDD0045 – 50m at 20.9% TGC and 0.46% V2O5 from 43.5m to 93.5m
– BMDD0047 – 67m at 18.8% TGC and 0.36% V2O5 from 62.7m to 130.0m
– BMDD0048 – 68m at 20.8% TGC and 0.36% V2O5 from 4m to 72.1m
– BMDD0050 – 58m at 18.4% TGC and 0.53% V2O5 from 23m to 81m
– BMDD0051 – 74m at 18.7% TGC and 0.39% V2O5 from 82m to 156m
– BMDD0053 – 90m at 22.1% TGC and 0.52% V2O5 from 83m to 173m
– BMDD0055 – 78m at 21.7% TGC and 0.44% V2O5 from 4m to 82m
The Ativa Zone (Inferred Resource of 21 million tonnes @ 20.8% TGC & 0.38% V2O5) comprises a small area of the Balama Graphite and Vanadium Deposit (Inferred Resource of 1.15 billion tonnes at 10.2% TGC and 0.23% V2O5). Although Balama West and Balama East have their own resource calculation, they represent only small zones of a continuous outcropping mountain of graphitic schists rich in vanadium (Figure 5).