MRE Completed - Viking Mines Limited

In November of 2023 MEC completed an MRE for the Canegrass Vanadium Magnetite Project, located in the Murchison region, 620km north-east of Perth, Western Australia. The MRE includes three deposits at Fold Nose, Kinks South, and Kinks, for primary credit elements V2O5, Fe2O3, TiO2. The MRE resulted in a 103% increase of Vanadium Pentoxide to 2.2 billion lbs.

The MRE has proven highly successful, with a 103% increase in the contained V2O5 to 2.2 Billion Pounds within the total MRE (>0.5% V2O5) of 146Mt at 0.70% V2O5, 31.8% Fe & 6.6% TiO2. Significantly, a high-grade subset of the MRE contains 27.5Mt at 0.87% V2O5, providing the basis to move forward and commence with a Scoping Study on the Project.

Read more: ASX Announcement