Steelpoortdrift and Tweefontein Vanadium Projects

Geological Setting

The Steelpoortdrift Vanadium Project is located in the Bushveld Igneous Complex of South Africa in an analogous geological setting to the current mining operations of Rhovan (Glencore), Vametco (Bushveld Minerals) and previous mining operations Mapochs (International Resources Ltd) and Vantech (Xstrata). Vanadium mineralisation in the Bushveld Complex is higher grade than most of its global peers. Mineralisation is hosted in vanadiferous titanomagnetite layers which occur at the same stratigraphic level across the entire complex and can be traced for almost 400 km.

The Bushveld Complex is a geologically unique igneous complex endowed with deposits of PGEs, chromium, vanadium and magnetite. This world-renowned mining location is host to several mining operations and multiple major mining companies are active in the area. As a result it is one of the most studied geological provinces in the world.

Vanadium mineralisation at the Steelpoortdrift Project is located close to the contact between the Upper Zone and Main Zone of the Bushveld Complex and adjacent to the Steelpoort Fault. Mineralisation is hosted in three zones, the Upper Magnetite Zone, Intermediate Magnetite Zone and Lower Magnetite Zone, which dip shallowly (10-12deg) to the west. The shallow dip and outcropping nature of mineralisation is favourable for mining as it can be mined by open pit techniques and requires less waste to be mined.