Thor Mining and Arafura Resources plan to further advance exploration of and assess potential development options for the Jervois Vanadium Project in the Northern Territory, Australia.

Map showing location of the Jervois vanadium project

The project, a joint venture between Arafura (60 per cent) and Thor (40 per cent, is located in the Northern Territory of Australia, approximately 290 kilometres east-northeast of and 360 kilometres by road from the nearest city Alice Springs.

Whilst substantial work was performed by others previously, in 2004, Arafura completed a review of all of the previous exploration data available for the Jervois Project area. From this work, the Attutra Metagabbro was identified as an area of interest for Fe/V and Au/PGE potential.

In 2005, Arafura commissioned a high-resolution airborne magnetic/radiometric survey over the project area. This survey highlighted several magnetic targets within the Attutra Metagabbro.

Between November 2006 and June 2008, a total of 60 RC holes for 5,774 metres were drilled at the Jervois Project. This drilling successfully targeted numerous magnetite rich zones of the Attutra Metagabbro for Fe/V mineralisation.

The eastern portion of EL29701 was recently split-off and assigned a new EL number (EL 32167) for the current project. This will facilitate the development of the Jervois Vanadium opportunity separate to other titles in the area.

Planned subsequent steps for the project include the following:
•    Resource drilling at Casper, RD, and Coco deposits
•    Drill test other deposits identified as magnetic targets
•    Follow up gold, and platinum group element intersections

Subject to successful outcomes from these activities, next steps would include detailed metallurgical testwork, and other technical activities, plus environmental and social impact studies aimed at progressing feasibility and mine development permitting.

The joint venture parties plan to actively seek third party project investment in the Jervois Vanadium Project, with all potential options canvassed, to take this exciting project opportunity forward.

Source: www.thormining.com