Abenab vanadium shows significant potential for new operations

Posted by Daniel Gleeson on 11th October 2018

SRK Consulting has completed an update of the mineral resource estimate for Golden Deeps Ltd’s (GED) Abenab vanadium deposit in northern Namibia. The updated mineral resource estimate follows JORC Code (2012) guidelines. The updated total Mineral Resource is 1.12 Mt grading 1.28% V2O5, 3.05% Pb and 1.25% Zn at a cutoff of 0.5% V2O5. On October 4, the price for vanadium pentoxide (98% min., FOB China) was $23-25/lb ($50,706-55,115/t) (source Metal Bulletin), the lead price was $2,018-2,020/t (source LME) and the zinc price was $2,695-2,596/t (source LME).

  • Excellent potential exists to increase the resource by further drilling
  • Metallurgical test work in 2012 achieved concentrate grade up to 21% V2O5, 15% Zn and 53% Pb by simple gravity separation
  • Abenab was once considered the “world’s richest” vanadium mine – 1.85 Mt ore mined @ 1.05% V2O5, plus lead and zinc
  • The Abenab concentrator produced 102,000 t of concentrate grading 18% V2O5, plus lead and zinc.

The Abenab project is located within the Groonfontein District of the Otjozondjupa Region of Northern Namibia. The previous open pit mine at Abenab is 32 km north of Grootfontein, within the Otavi Mountainland. The Abenab mine was operated from 1921 to 1947 by the South West Africa Co as an open pit and underground mine. GED holds an 80% interest in the exploration licence (EPL5496) that covers the mine.

GED Executive Chairman, Michael Minosora, said: “The updated Mineral Resource represents a significant increase on the previous Mineral Resource reported in 2012 and GED considers there is excellent potential to increase the resource further with extension drilling along strike. Additionally, the Abenab resource is geologically separate from the Christiana mine area, 200 m to the south of Abenab, where the company has mapped and sampled surface indications of V-Pb-Zn mineralisation over a strike length of 1,000 m. The company is currently compiling a 3D model of the mineralisation at Abenab and Christiana with a view to commencing a major drilling campaign designed to prove up an economically viable orebody.”

The picture shows an RC drill rig Operating at Deblin copper mine, which is part of GED’s greater Grootfontein base metal project.