AssembleBay receives shareholder approval for Skane Vanadium Project acquisition
Date: Sep 17, 2018
The company aims to deliver a JORC-compliant mineral resource for the project.
AssembleBay Ltd (ASX:ASY) has received shareholder approval for the proposed acquisition of the Skane VanadiumProject in Sweden, held by private company ScandiVanadium Australia Pty Ltd.
The company has also received approval for its re-compliance listing on the Australian Securities Exchange and is now finalising a prospectus for the listing and associated capital raising.
As part of that process, AssembleBay has engaged consulting geologist Auralia Mining Consultants Pty Ltd to prepare an independent geologist’s report.
An exploration target for the Skane project has also been established.
Potential for high-tonnage vanadium
Project-holder ScandiVanadium’s managing director David Minchin said the exploration target showed tremendous potential for the project to contain high-tonnage vanadium mineralisation at good grades.
Minchin said: “We are aware that Skane has historically been considered as a source for vanadium, with test-mining conducted at Flagabro during the 1940s.
“The independent geologist’s report, which brings together results from historic drilling, rock chip assays at the historic mine, and mapping conducted by the SGU, encourages enthusiasm and excitement … towards this project.
“Our focus now is on getting all the relevant permits in place to start drilling target areas and define a JORC-compliant resource as soon as possible.”
