Bluebird Battery Metals (BATT.V) has received additional historical exploration data from its Canegrass battery metals project in Australia, and these new files are a real eye-opener. They contain data from a 2007 exploration program conducted by Maximus Resources (ASX:MXR) on a regional structure that hosts the Windimurra Vanadium mine (which is about to be restarted), just 20 kilometers north of Bluebird’s vanadium structure.
The results are baffling. Over a total strike length of 4.5 kilometers, 325 grab samples returned V2O5 grades of in excess of 1%, with an average (!) grade of 1.21%. The same samples also contained an average of 12.6% TitaniumDioxide as well as 50.1% Fe. Note these are grab samples and they represent what’s available at surface. The next step for Bluebird is to figure out the total extend of this vanadium zone, and the extension at depth. There’s only one way to find out, and that’s by drilling a few holes straight into the vanadium anomaly, to see if this thing also carries grade at depth.
We are certain Bluebird’s northern neighbour, Atlantic Vanadium, is watching all developments very closely. It just invested half a billion Australian Dollar to bring the Windimurra vanadium mine back into production, and the reserves at their mine have an average grade of 0.49%. Whilst their own 55 million tonnes are sufficient to keep the processing plant going for a while (on top of the 55 Million tonnes in the reserve category, Windimurra also contains an additional 185 million tonnes in the resource categories), we do think the 1% surface samples are very appealing to them as well, especially because it acknowledged it had an important exploration target 20 kilometers south of the mine. That exploration target is bordering the Canegrass project, which seems to validate Atlantic Vanadium’s claims.
It’s still early days so perhaps we shouldn’t get too excited just yet. But we are looking forward to see Bluebird’s findings when it continues to test this structure. With Vanadium prices having quadrupled over the past few years, V2O5 might actually come the property’s leading metal…
To be continued…
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The author has a long position in Bluebird Battery Metals. Bluebird is a sponsor of the website. Please read the disclaimer
