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VR8 is a junior vanadium developer who owns 74% of the world class, tier 1, Steelpoortdrift Vanadium licensed mining project in Limpopo Province, South Africa. The Steelpoortdrift titaniferous magnetite deposit is located in the prolific Bushveld Geological Complex within a known mineral and vanadium producing area within reach of proven processing plants, railway and road options and ports.
The Steelpoortdrift mining project is the world’s largest vanadium deposit with an indicated and inferred JORC resource of 612 Mt @ 0.78% V2O5 in situ, incl. 167 Mt @ 1.07% V2O5 with an in-magnetite grade of c. 2.2% V2O5.
The Company is in the process of conducting work towards becoming fully permitted (such as acquiring a water use license) and towards studies to verify a pathway of options to produce V2O5 and other niche products from the suite of elements present in the Titano-magnetite (V, Ti and Fe.