Hydrological report clears way for development of Surefire Resources’ Victory Bore vanadium project
Surefire Resources believes the aluminium oxide in waste rock at Victory Bore could be “exceptional feedstock” for producing high purity alumina, which is critical in new technologies.
Tests by specialist hydrological and environmental consultants show that developing an open pit at the Victory Bore vanadium deposit in Western Australia will have no environmental impact, reports Surefire Resources (ASX: SRN).
The open pit is likely to be 1,500m long and 100m deep when its initial stage is completed.
The hydrological report concluded that dewatering rates at the proposed open pit are predicted to be low.
The impacts of any dewatering are also expected to be localised and will not extend to existing station bores or wells.
“Significantly there are no known groundwater dependent ecosystems that will be impacted,” the company adds.
Positive implications for all planned products
Managing director Paul Burton said the hydrological study has positive implications for the company’s planned products, including the high purity aluminium product also announced this week.
This hydrology assessment is a required part of the regulatory process.
In this week’s earlier release, Surefire announced that test work confirmed the synthesis and production of 4N (99.99%) high purity alumina from the Victory Bore deposit, which is located 400km from the port of Geraldton.
The deposit is noted by the company to be unique in that it has “exceptionally” high grades of aluminium oxide, up to 31.4%.
Mr Burton said that development and permitting steps are being undertaken as quickly as possible.
Surefire says that the positive hydrological assessment will help with the company’s permitting and regulatory processes at a time when the pre-feasibility study is under way.
‘Significant’ critical minerals project
Surefire is positioning Victory Bore as what it describes as a significant critical minerals project.
It has a resource of 321 million tonnes at 0.4% vanadium oxide, with a 10km strike length and no cover rock, being exposed at surface.
The existing strike length stands at 10km with scope to expand the resource.
Surefire’s focus is on supplying the vanadium battery market, the company noting in its most recent presentation that vanadium demand is growing but no new producers are bringing on projects.
Victory Bore’s pit is expected to produce 4 million tonnes per annum, with a high-concentrate grade of at least 1.43% vanadium oxide.