Vanadium Resources : Additional Information - Update on ESG Technology

Fe

V2O5

TiO2

Al2O3

91,0 %

99,3 %

97,8 %

40,0 %

JORC Code explanation

Commentary

Nature and quality of sampling (eg cut channels,

Metallurgical samples made up by compositing

random chips, or specific specialised industry

excess sample material ("bulk rejects") from diamond

standard measurement tools appropriate to the

core drilling (NQ size) and RC drilling using 5 ¼" face

minerals under investigation, such as down hole

sampling hammer.

gamma sondes, or handheld XRF instruments, etc).

These examples should not be taken as limiting the

broad meaning of sampling.

Include reference to measures taken to ensure

RC & DD drilling sampled at 1m intervals

sample representivity and the appropriate calibration

RC drilling split on site using a riffle splitter.

of any measurement tools or systems used.

DD drilling split at core shed used a core saw.

Aspects of the determination of mineralisation that

All aspects of the determination of mineralisation are

are Material to the Public Report. In cases where

described in this table.

'industry standard' work has been done this would be

Drilling using these methods is considered

relatively simple (eg 'reverse circulation drilling was

appropriate for sampling the vanadiferous

used to obtain 1 m samples from which 3 kg was

titanomagnetite unit which hosts the mineralisation.

pulverised to produce a 30 g charge for fire assay'). In

All of the drill samples have been sent to a

other cases more explanation may be required, such

commercial laboratory for crushing, pulverising and

as where there is coarse gold that has inherent

chemical analysis by industry standard practises.

sampling problems. Unusual commodities or

Metallurgical testwork has followed standard

mineralisation types (eg submarine nodules) may

techniques for extraction of magnetite using a

warrant disclosure of detailed information.

magnetic separation process.

Drill type (e.g. core, reverse circulation, open-hole

RC drilling uses face sampling hammer and 5 ¼" bit

hammer, rotary air blast, auger, Bangka, sonic etc)

sizes.

and details (e.g. core diameter, triple of standard

DD drilling used NQ sized core

tube, depth of diamond tails, face-sampling bit or

other type, whether core is orientated and if so, by

what method, etc).

Method of recording and assessing core and chip

RC drill samples are weighed to give a quantitative

sample recoveries and results assessed.

basis to estimation of recovery.

Diamond core is measured to quantify core recovery

each run.

JORC Code explanation

Commentary

Measures taken to maximise sample recovery and

RC drilling - consistent drilling technique, cleaning of

ensure representative nature of the samples.

cyclone.

Diamond drilling -consistent drilling technique.

Whether a relationship exists between sample

No relationship observed between recovery and

recovery and grade and whether sample bias may

grade.

have occurred due to preferential loss/gain of

There is no known or reported relationship in

fine/coarse material.

historical drilling between sample recovery and

grade.

Whether core and chip samples have been

RC drill chips & drill core is being geologically logged

geologically and geotechnically logged to a level of

for the total length of the hole. Logging is recording

detail to support appropriate Mineral Resource

lithology, mineralogy, alteration, veining, structure,

estimation, mining studies and metallurgical studies.

mineralisation and weathering. Logs are coded using

the company geological coding legend and entered

into Excel worksheets prior to being loaded into the

company database. All core is being photographed

with images to be stored on the company server.

Logging is appropriate and sufficiently detailed to

support Mineral Resource estimates.

Whether logging is qualitative or quantitative in

Logging of chips and core is both qualitative (eg.

nature. Core (or costean, channel, etc) photography.

colour) and quantitative (eg. minerals percentages).

The total length and percentage of the relevant

100% of all drilling to date by the Company has been

intersections logged.

logged.

If core, whether cut or sawn and whether quarter,

Sampling for all diamond core samples is undertaken

half or all core taken.

on split core, halved via a core saw.

If non-core, whether riffled, tube sampled, rotary

RC drilling is sampled dry and split through a riffle

split, etc and whether sampled wet or dry.

splitter.

Following laboratory preparation , the excess crushed

sample is returned to the Company. The sample is

composited on a hole by hole basis according to the

stratigraphic unit of the mineralised zone (Upper,

Intermediate and Lower). Samples from the same

stratigraphic zone are combined and submitted for

the metallurgical testwork

For all sample types, the nature, quality and

The sampling techniques are of consistent quality and

appropriateness of the sample preparation

appropriate.

technique.

Quality control procedures adopted for all sub-

To ensure representivity sampling followed the same

sampling stages to maximise representivity of

methodology at all times (both for assay and for

samples.

metallurgy).

Field duplicates taken and inserted for the assay

samples. Certified Reference Materials (CRMs) were

selected to be similar in chemistry to the

mineralisation being targeted.

JORC Code explanation

Commentary

Measures taken to ensure that the sampling is

One field duplicate is collected per 20 assay samples

representative of the in situ material collected,

in addition to laboratory duplicates which were also

including

for

instance

results

for

field

reported.

duplicate/second-half sampling.

For the metallurgical samples samples were

combined based on stratigraphic units. Repeat assays

were carried out on the samples prior to magnetic

separation as well as afterwards.

Whether sample sizes are appropriate to the grain

The material and sample sizes are considered

size of the material being sampled.

appropriate given the magnetite unit being sampled.

The nature, quality and appropriateness of the

The samples were sent to ALS Johannesburg, an ISO

assaying and laboratory procedures used and

accredited commercial laboratory, for preparation

whether the technique is considered partial or total.

and whole rock analysis. All samples were analysed

by XRF fusion for Al2O3, As, Ba, CaO, Cl, Co, Cr2O3,

Cu, Fe, K2O, MgO, Mn, Na2O, Ni, P, Pb, S, SiO2, Sn, Sr,

TiO2, V, Zn and Zr as well as loss on ignition.

Davis Tube analysis was carried out by SGS

Laboratories Johannesburg, an ISO accredited

commercial laboratory. Davis Tube analysis carried

out at magnetic field of 1000G with magnetic and

non-magnetic fractions analysed by XRF fusion for Fe,

TiO2, V2O5, P2O5, SiO2, Al2O3, CaO, Cr2O3, MgO,

MnO, Na2O, K2O and loss on ignition.

Metallurgical testwork utilised the large scale

magnetic separation units at Multotec's R&D

Division. The initial magnetic concentrate produced

in May 2019 was re-milled to 80% passing 106um,

then passed through varying magnetic fields as

detailed in Table 1 of the ASX Announcement dated

24 June 2020. LIMS utilised magnetic fields of 1550G

while HIMS utilised magnetic fields of 6500G.

Samples were analysed at SGS laboratories using the

same methods as for the Davis Tube samples.

For geophysical tools, spectrometers, handheld XRF

Hand held assay devices have not been reported.

instruments, etc, the parameters used in determining

the analysis including instrument make and model,

reading times, calibrations factors applied and their

derivation, etc.

Nature of quality control procedures adopted (eg

For assay samples QA/QC samples are inserted every

standards, blanks, duplicates, external laboratory

10 samples. These alternate between a CRM & blank,

checks) and whether acceptable levels of accuracy (ie

and a field duplicate (RC drilling only).

lack of bias) and precision have been established.

CRM are sourced from an accredited source and are

of similar material to the mineralisation being

sampled.

QA/QC samples are checked following receipt of each

assay batch to confirm acceptable accuracy and

precision.