NEWS

Flinders Mines: Canegrass Project Vanadium Mineral Resource Estimate

SOURCE: ASX: FMS –  www.flindersmines.com

Mr. David McAdam reports:

West Perth, WA / January 30, 2018 / JMN Wire / Flinders Mines Limited (ASX: FMS) is pleased to advise that the Canegrass Project Vanadium Mineral Resource1 estimate has been re-assessed and reported in accordance with the JORC Code (2012 Edition).

FMS commissioned mining industry consultants CSA Global Pty Ltd (CSA Global) to review the existing Mineral Resource estimate and prepare documentation in accordance with the JORC Code (2012 Edition). The revised Mineral Resource estimate is presented in Table 1.

FMS Executive Director David McAdam said “Flinders Mines is pleased to announce that the new Canegrass Vanadium Mineral Resource estimate has been reported in accordance with the JORC Code (2012 Edition). Furthermore, the recent exploration results confirm that vanadium remains the primary economic commodity of interest in the Canegrass Project.”

Highlights

  • New Total Inferred Mineral Resource 79 Mt @ 0.64% V2O5, 6.0% TiO2 and 29.7% Fe
  • All Mineral Resources reported within 250 m of surface
  • Thick vanadium-rich zone intersected in recent drill hole close to surface
    • RC282-01: 51 m @ 0.72% V2O5 from 21 m downhole
  • Evaluation of the lateral extents of the Vanadium Titanium Magnetite (VTM) Mineral Resource is ongoing with an expectation to increase the Mineral Resource
  • Exploration to focus on identifying and delineating higher-grade VTM mineralization

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