Golden Deeps re-rates on 'exceptional' copper-vanadium-lead intersections

Mon 04 Apr 22, 10:29am (AEST)
Exploring - Close up of industrial worker holding mineral ore in gloved hands on mining site
Source: iStock

Stocks in article


Share article

Key Points

  • Golden Deeps hits 'exceptionally thick, high-grade' intersections at the Nosib Prospect in Namabia
  • The intersections will fast-track the company's maiden resource estimate
  • Vanadium sector is heating up with several ASX-listed companies re-rating in the past week

Copper and vanadium hopeful Golden Deeps (ASX: GED) has intersected “exceptionally thick, high-grade, diamond drill hole” intersections at the Nosib Block Project in Namibia.

The company's stock was quick to re-rate on the positive news, up 38% in early-trade.

"Significant, thick and high-grade, copper-vanadium-lead and silver mineralisation has been defined with RC and diamond drilling, extending from surface to over 50m vertical depth," CEO Jon Dugdale said in a statement.

High grade hits accelerates roadmap to development

"The high-grade zone, from surface, has an ideal geometry for open-pit mining and the project will now be fast-tracked with a maiden resource estimate, open-pit optimisation and metallurgical testing to be carried out prior to initial development and processing studies."

The Nosib Block Project is within close proximity to another prospect - the Abenab vanadium project. Today's positive results will be incorporated into an integrated mining and progress plan for both Nosib and Abenab.

Exceptional Copper-Vanadium Intersection at Nosib

This work will help the company determine the viability and potential for a high-value copper and vanadium project, as well as lead, zinc and silver by-products, which will supply the rapidly growing and supply-tight renewable energy and battery storage markets.

Vanadium catches a bid

For the uninitiated, vanadium has traditionally been used as a steel additive, enhancing strength, toughness and heat resistance proprieties of the alloy.

Vanadium has an emerging use case in the renewable energy industry, as a potential competitor for traditional lithium-ion batteries. The developing vanadium-based batteries have shown promise across key metrics including lifespan, charge rates and reuseability.

Several vanadium stocks received massive re-rates in the past week, including names like Vanadium Resources (ASX: VR8), Australian Vanadium (ASX: AVL) and now Golden Deeps.

Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

Get the latest news and media direct to your inbox

Sign up FREE