Caula Vanadium-Graphite Project Scoping Study Shows Exceptional Economics
Caula Vanadium-Graphite Project Scoping Study Shows Exceptional Economics
Sydney, Oct 22, 2018 AEST (ABN Newswire) - New Energy Minerals Limited (ASX:NXE) (FRA:GGY) is pleased to report the results of an independent Scoping Study completed by mining consultant group Bara International ("Bara") on the Company's 80% owned Caula Vanadium Graphite Project located in Mozambique.

Highlights

- The Study demonstrates the viability of an open pit vanadium and graphite mining operation with outstanding economics

- Mine life of 26 years based entirely on the JORC Measured Resources for both vanadium and graphite

- 1,877 metres of diamond drilling over 16 drillholes and 99 metres of RC drilling (1 drillhole) were completed by the Company for the Scoping Study

- Approximately 4,000 metres of additional drilling, sampling, assaying and further testwork underway (drilling and sampling completed) to support Reserve definition and pre-feasibility studies

- New Energy Minerals is now focused on delivering pre-feasibility level studies by Q1-2019 as well as the fast-tracked implementation of Phase 1 of the project targeting 1st cashflows in H2-2018

To view the full release, please visit:
http://abnnewswire.net/lnk/TPFKPVZ6


About New Energy Minerals Ltd

New Energy Minerals Ltd (ASX:NXE) (FRA:GGY) is an ASX listed company focused on the mining and exploration of Vanadium and Graphite – two commodities critical for the 'New Energy Market'.

The Company is currently fast tracking its world-class Caula Vanadium-Graphite project in Northern Mozambique, located along strike from the Syrah Resources Ltd (ASX:SYR) Balama Project, with first cash flows targeted for H2 of 2019 from trial mining operations.  New Energy Minerals' Caula project hosts a JORC (Measured) vanadium-graphite resource of 22 Mt @ 0.37% V2O5 (0.2% cut-off) and 13.4% TGC (8% cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) and 2.93 Mt of contained graphite.

New Energy minerals has a highly experienced Board of Directors, management, finance, exploration and geological team, with a 15-year track record of investment and successful project development in Mozambique and the Africa region. The Company aims to become a major provider of vanadium and graphite, both key components used in battery production.

  


Contact

New Energy Minerals Limited
Bernard Olivier
Managing Director
E: bernard@newenergyminerals.com.au
M: +61-4-08948-182
T: +27-66-4702-979

Jane Morgan Management
Jane Morgan
Media & Investor Relations
E: jm@janemorganmanagement.com.au
T: +61-405-555-618



Related Companies

New Energy Minerals Ltd   

ABN Newswire This Page Viewed:  (Last 7 Days: 31) (Last 30 Days: 137) (Since Published: 2772)