Bushveld Vanadium Project - PFS launch

RNS Number : 5592X

Bushveld Minerals Limited

20 November 2014

 



20 November 2014

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Bushveld Vanadium Project Update - Pre-Feasibility Study Launch

Bushveld Minerals Limited (AIM: BMN), a diversified mineral development company with projects in Africa, announces the commencement of the Pre-Feasibility Study Programme ("PFS") for its Bushveld Vanadium Project.

Since completing the Bushveld Vanadium Project Scoping Study, in July 2014, Bushveld has assembled both internal and external consulting teams, with a view to expediting the PFS. The Company expects to complete the PFS during the first half of 2015. Given management's strong belief in the economic viability of the project, work will also commence on parts of the Definitive Feasibility Study during this period.

Bushveld has begun a number of activities required by the PFS. These include:

·      A drilling programme which commenced on 6 November, to upgrade the Main Magnetite Layer ("MML") resource into the Measured category, and for conversion into a reserve as part of the PFS programme. This campaign will also collect sufficient core for the detailed metallurgical test work, which has commenced, and assess the extent of the AB Zone, with the calculation of a maiden Mineral Resource expected on this deposit following the drilling. The drilling campaign comprises 68 boreholes and is expected to total 3,700 metres.

·      Preparations for a Mining Right Application (in terms of the provisions of South African regulation) in the first quarter of 2015. This includes a Mining Work Programme, Social and Labour Plan, and Environmental & Social Impact Assessment ("ESIA") baseline studies.

In addition, the Company confirms the following independent consultants appointed for the various work-streams of the feasibility studies:

·      Hatch Goba - Metallurgy, Processing & Infrastructure

·      MSA Group - Resource Evaluation, Mining Studies & Mining Right Application

·      Digby Wells - Environmental studies, including ESIA, Environmental Management Plan and applications for Air Emissions, Integrated Water Use & Waste Licenses

More external consultants will be appointed as the project develops at the appropriate time.

 Fortune Mojapelo, CEO of Bushveld said, "We are pleased to have assembled a highly experienced PFS team, including individuals well-versed in developing  Bushveld Complex operations utilising the Salt Roast processing route on which our flow sheet is based. We eagerly anticipate the outcome of the Bushveld Vanadium Project PFS, and are confident that this team will enable us to accelerate its delivery."

Enquiries: [e-mail]

Bushveld Minerals Fortune Mojapelo	[phone]
Strand Hanson Andrew Emmott	[phone]
Fox Davies Jonathan Evans	[phone]
RFC Ambrian Jonathan Williams	[phone]
Tavistock Jos Simson/ Nuala Gallagher	[phone]
Tielle Communications Stéphanie Leclercq	[phone]

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Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of vanadium-and titanium bearing iron ore and tin assets in Southern Africa. The Company owns the Bushveld Vanadium Project, P-Q Iron Ore and Titanium Project and Mokopane Tin Project, all located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling 57.21% interest in Lemur Resources (ASX: LMR), that owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM Market of the London Stock Exchange in March 2012.

 

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