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ASX: CMG - Critical Minerals Group

Critical Minerals Group: Vanadium is the new black – and this company has plenty

Critical Minerals Managing Director Scott Drelincourt on 3AW, 2GB & 4BC Bulls N' Bears Report

Listen to ASX-listed Critical Minerals Managing Director Scott Drelincourt talk to Matt Birney on the Bulls N’ Bears Report about Critical Minerals’ massive vanadium resource upgrade that has thrown its Lindfield project into the realms of world-class vanadium plays.


Critical Minerals' 100 per cent owned flagship Lindfield vanadium project covers a 295 square kilometre tenement in Northwest Queensland, inland from Townsville. The project has just seen a significant resource grade increase and a massive tonnage hike and now sits comfortably alongside some of the world-class vanadium deposits. The company also has the Figtree Creek copper and gold project which has several rock chips and soil samples with anomalous results.


Matt Birney - Welcome to Bulls N' Bears brought to you today by Critical Minerals Group.

Matt Birney - ASX code: CMG

Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Critical Minerals, Scott Drelincourt.

Matt Birney - Hi Scott.

Scott Drelincourt - Yeah, g'day Matt

Matt Birney - Okay so Scott, Critical Minerals has just announced a massive upgrade to the vanadium resource at your Lindfield project in Queensland. What was the previous resource estimate and what is it now?

Scott Drelincourt - So the previous resource estimate was 210 million tonnes at 0.39 per cent V205. The new resource has increased by 73 per cent in tonne so we've got a new resource of 363 billion tonnes at 0.43 per cent V205 so that's a 10 per cent increase in grade as well.

Matt Birney - Does it have a higher grade core or is it just consistent across that whole lot?

Scott Drelincourt - It is homogeneous but we do have a higher grade zone and the weathered oxidised horizon and that's at 128 million tonnes at 0.48 per cent V205 so a higher grade again.

Matt Birney - How much of the resources at the higher confidence indicated status would you say?

Scott Drelincourt - Of that, we've got the indicated status of that zone is 104 million tonnes at 0.48 per cent V205 as well.

Matt Birney - How deep is this thing? How much digging do you have to do to get to it and how far down does it go?

Scott Drelincourt - Very little mate, it outcrops at surface and our resource is cut off, our parameters are 30 meters so if we haven't made it by 30 meters we don't consider a part of the region.

Matt Birney - So 363 million tonnes sounds massive to me particularly if you think about it in the context of a gold or a nickel or any kind of project really. How does that compare to your vanadium peers around the place?

Scott Drelincourt - With the tonnes and the grade increase now, regionally we have one of the highest grades in tonne in the region and globally because of the beneficiation upside as well we've got one of the best products, I think, to take to the world now.

Matt Birney - Now I see you've added aluminium oxide to the resource this time around. Looks like for the first time. Does that look good enough to be used as a feedstock for high-purity alumina? HPA?

Scott Drelincourt - Good pick. That's exactly what we're trying to do. So we see the HPA, the alumina being a byproduct of the processing route for vanadium so we're actually doing test work to produce that now, so we'll have some results to show market in the coming months and hopefully produce some HPA on our products.

Matt Birney - Scott Drelincourt from Critical Minerals.

Matt Birney - Thanks for joining me on Bulls N' Bears today and remember we're only here to give you information, not advice which you should of course seek independently.

Matt Birney - I'm Matt Birney and this is Bulls N' Bears.

Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab


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