Velox Outlines New Exploration Target at North Queensland Vanadium Project

Velox Energy Materials Inc. has announced a new drill-defined exploration target within their North Queensland Vanadium Project, located in the Vanadium Hub about 370 km west of Townsville, Australia. The target area, dubbed the Runnymede Exploration Target, measures roughly 4.3 km by 3.5 km and lies approximately 66 km northwest of Richmond. The exploration so far has based its estimates on historical drill data, suggesting a significant vanadium pentoxide and molybdenum trioxide presence. However, the company underlines that it has not yet confirmed these minerals as resources, and further exploration is required.

Simon Coyle, President and CEO of Velox, highlighted the additional potential the Runnymede target brings to the project, complementing the earlier identified Flinders River Exploration Target. Coyle's statement also referenced the ongoing metallurgical work and the strategic relevance of vanadium in energy storage solutions like redox flow batteries. Despite the promising projections, Velox admits that more drilling and analysis are needed to substantiate these findings fully.