Protean completes vanadium-uranium assaying in Korea
Protean Energy Ltd (ASX:POW) today announced that it has finalised an assaying program at the Daejon Vanadium Project in South Korea, where it is targeting a significant vanadium Resource.
The 85 hole p-XRF assaying program targeted the entire 8.3 kilometre strike length of the vanadium/uranium mineralisation at the project, hosted within the Daejon shale.
The finalisation of this program enables the estimation of a final JORC (2012) Resource over the entire strike length of the deposit, which will expand on the interim Resource released on 4 July 2018 — estimated across 40% of the deposit.
Results from the final Mineral Resource estimation are expected within the third quarter of 2018. Upon completion of the global Resource POW will advance to test Daejon ore through access granted to the multi-million dollar pilot plant.
Not only is POW developing the multi‐energy mineral Daejon Vanadium Project in South Korea, but it is also focused on the commercialisation of vanadium battery energy storage systems.
Yet it remains a speculative stock and investors and investors should take a cautious approach to any investment decision made with regard to this stock.
News that the assay program has been finalised comes just days after the company announced that it has appointed a specialist new energy expert, Scott Davis, to advise POW on its V-KOR battery development and commercialisation program.
Davis, an energy industry expert with significant experience in product development, sales and marketing and market reform roles in the electricity sector, will help drive the development and commercialisation program for the vanadium flow battery technology.