Golden Deeps completes placement to accelerate drilling and process design at the Abenab-Christiana Vanadium-Lead-Zinc Project
Australian-listed Golden Deeps Limited has completed a private placement to raise US$2,2 million (gross) to accelerate drilling, development and process design of the Abenab-Christiana Vanadium-Lead-Zinc Project in Namibia, according to an Australian Securities Exchange announcement this week.
The historical Abenab Mine and adjacent Christiana Mine were considered to be some of the world’s richest vanadium mines and produced amongst the highest grade and most valuable vanadium concentrates in the world.
Metallurgical testwork undertaken on Abenab mineralisation approximately 6 years ago achieved exceptional concentrate grade of 21% V2O5, 14% zinc and 53% lead. Both deposits amenable to simple, low-cost gravity concentration to produce exceptionally high grade vanadium-lead-zinc concentrates/
According to Golden Deeps drilling can start immediately and the company has already commenced preparations, including discussions with drilling contractors.
The Abenab-Christiana vanadium-lead-zinc project (the Project) is located within its Grootfontein Base Metal Project in the Otavi mountains located in northern central Namibia.
Caption: A cross-cut on the 50’ level in the Christiana Mine ending in descloizite-bearing breccia mineralisation. Note the stable ground conditions of the historical workings.