Ironveld holds unfettered rights to mine an area of 165 square kilometres with:
- 80 million tonnes of magnetite ore - the JORC compliant mineral resources demonstrates holds 1.6 billion pounds of Vanadium, the equivalent to four times annual global demand
- 32 million tons of High Purity Iron in situ
- 9 million tonnes of titanium
The project ore body is near surface, enabling simple, open cast mining. The current resource does not include mineralisation on the Luge Farm prospecting right which is near to the current JORC resource and which is yet to be defined but is believed to have the same geology. This project has the potential to become a vertically integrated vanadium mining and processing business serving the increasing demand for vanadium in steel alloys and vanadium redox batteries.
The Bushveld is a metallogenic province covering approx. 66,000km2 in the north of South Africa. It hosts many mineral deposits, including platinum group metals, vanadium, chrome, palladium and rhodium.