[Ferro-Alloys.com ]Australia, Mar 22, 2019 - The Company completed scout drilling of 10 RC holes for 363m on two separate lines 400m apart at Kangaroo Caves Prospect, 12km southwest of the Central Vanadium Oxide Prospect (See ASX announcement 13th December 2018).

Drill hole details, a drill location plan and assay results for the holes are attached. They confirm the continuity of vanadium mineralisation within the magnetic trends associated with the previously announced exploration target.

Widenbar has previously defined an exploration target potential* at a 0.1% V2O5 cut-off of 1 billion to 1.3 billion tonnes at 0.25 to 0.3% V2O5 (both oxide and hard rock) over 14-15km strike length (refer ASX release 6th February 2015).

Assuming the untested 14-15km of strike length indicated by the aerial magnetics hosts similar mineralisation to the JORC 2012 Resource in the drilled area, the following upper and lower limits can be postulated.

High Grade at 0.25 cut-off 550 to 650 Mt @ 0.38 to 0.42% V2O5

Mineralisation at 0.1 cut-off 1 Bt to 1.3 Bt @ 0.25 to 0.30% V2O5

Note: High grade material is included within the low-grade envelope.

(Widenbar,2015)

*The exploration target potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a mineral resource and that it is uncertain if further exploration will result in the Estimation of a mineral resource.

• [Editor:tianyawei]