# Velox Drilling Identifies High-grade Vanadium Zone within the Cambridge Deposit in Queensland, Australia

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be

Original source: https://money.tmx.com/en/quote/VLX/news/8815178659007782/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit-

Publisher: tmx

Original announcement: 2024-01-23T07:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Velox Energy Materials Inc.

- Ticker: VLX

- Exchange: TSX

- Region: Queensland, Australia

- Primary commodity: Vanadium

- Secondary commodities: Molybdenum, Rare earth elements

- Document categories: Drill results, Resource update, Metallurgy

- Extracted: 2026-09-13 06:59:05 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

Velox Energy Materials announced positive drill results from its Phase 1 diamond drill program at the Cambridge Vanadium deposit in Queensland, Australia. The program identified a high-grade vanadium zone at shallow depths with consistent grades, including intercepts up to 1.1 m at 0.84% V2O5. The company also noted a potential rare earth element enrichment zone and confirmed a laterally continuous high-grading layer, enhancing the understanding of the deposit and supporting future resource updates and metallurgical studies.

Reasoning: Velox Drilling reported encouraging high-grade vanadium intercepts at shallow depths within the Cambridge Deposit, confirming a laterally continuous high-grade layer and identifying a potential REE enrichment zone. The program was designed to support resource definition and metallurgical testwork, indicating progress towards de-risking the project. Strong QA/QC procedures enhance confidence in the results.

- Positive factor: High-grade vanadium intercepts exceeding 0.6% V2O5

- Positive factor: Shallow depths of mineralization

- Positive factor: Laterally continuous high-grading layer identified

- Positive factor: Comprehensive QA/QC program disclosed with certified labs and umpire checks

- Positive factor: Drilling designed to support future resource definition and metallurgical testwork

- Positive factor: Identification of REE enrichment zone as potential upside

- Negative factor: Relatively narrow intercept widths

- Negative factor: Vertical drill holes \(dip 90 degrees\) may not fully represent true width if mineralization is not flat-lying

Facts used in scoring: 19

## Classification and evidence

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release details a comprehensive QA/QC program including blanks, duplicates, standards, umpire checks, and certified laboratories.

Evidence · text

> Velox uses a quality assurance/quality control \(QA/QC\) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis.

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The scientific and technical information in the news release has been reviewed and approved by Michael Griffiths, FAusIMM, a Qualified Person.

Evidence · text

> reviewed and approved on behalf Velox Energy Materials by Michael Griffiths, FAusIMM, Director & VP Exploration for Velox Energy Materials, a Qualified Person.

**Shallow Mineralization**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The mineralized zone was identified at shallow depths, with intercepts starting as shallow as 4.4 m from surface.

Evidence · text

> mineralized zone identified at shallow depths

**High Recovery Potential**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The drilling was designed to provide ample representative material for metallurgical testwork, indicating a focus on process optimization.

Evidence · text

> provide ample representative material for metallurgical testwork

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The drill program consisted of 'infill large diameter \(100mm\) 4C diamond core drill holes' designed to increase stratigraphic knowledge and provide data for resource definition.

Evidence · text

> A total of ten \(10\) infill large diameter \(100mm\) 4C diamond core drill holes totaling 333 m were completed at the Cambridge Vanadium deposit

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The company explicitly states that the results validate planned next steps including 'a potential update to the existing resource'.

Evidence · text

> validate our planned next steps for the NQVP, which include metallurgical studies, a potential update to the existing resource

**Stale Estimate**

Polarity: negative

Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: The existing Mineral Resource Estimate for the Cambridge Deposit has an effective date of November 2022, making it over a year old.

Evidence · text

> The Indicated Resource of 61.33 Mt @ 0.34% V2O5 and an Inferred Resource of 144.87 Mt @ 0.33% V2O5 for the Cambridge Deposit was announced in November 2022

**All Inferred**

Polarity: negative

Definition: M&I share below the weak bound — very early stage, no engineering confidence.

Why it applies: The historical resource estimate includes a significant Inferred component of 144.87 Mt, which is a lower confidence category.

Evidence · text

> Inferred Mineral Resource of 144.87 Mt @ 0.33% V 2 O 5

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: The cut-off grade for the historical molybdenum resource is not explicitly stated, only the vanadium cut-off.

Evidence · text

> Indicated Mineral Resource of 61.33 Mt @ 0.34% V 2 O 5 and 234.6 ppm MoO 3 along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V 2 O 5 \( cut-off grade of 0.25% V 2 O 5 \) and 241.9 ppm MoO 3

## Extracted facts

Stored fact records: 19. Some facts used in scoring do not have a stored record.

## Drill Results (15)

### NQVP23\_008

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-0)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_008
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.44
- Grade Unit: %
- Intercept: 4.7 m
- From: 8.6 m
- To: 13.3 m
- Hole Depth: 26 m
- Intercept Depth: 8.6 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_008:8.6-13.3
- Mining Method: unknown

#### Location

- Easting: 695221
- Northing: 7734412
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.3
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept shows a strong vanadium grade at a shallow depth, contributing positively to the understanding of the deposit's high-grade potential and supporting resource definition.

- Positive factor: Strong vanadium grade \(0.44% V2O5\)

- Positive factor: Shallow intercept depth \(8.6 m\)

- Positive factor: Part of a resource definition drill program

Evidence · text

> Hole NQVP23\_008 - 4.7 m @ 0.44% V 2 O 5 from 8.6 m \(0.30%V 2 O 5 cut-off\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_008

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-1)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_008
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.84
- Grade Unit: %
- Intercept: 1.1 m
- From: 10.5 m
- To: 11.6 m
- Hole Depth: 26 m
- Intercept Depth: 8.6 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_008:10.5-11.6
- Mining Method: unknown

#### Location

- Easting: 695221
- Northing: 7734412
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.3
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This sub-interval represents a bonanza-grade vanadium intercept, significantly enhancing the overall positive sentiment for the hole and indicating a high-grade core within the mineralization.

- Positive factor: Exceptional vanadium grade \(0.84% V2O5\)

- Positive factor: Shallow intercept depth \(10.5 m\)

- Positive factor: Indicates a high-grade zone within the broader intercept

Evidence · text

> including 1.1 m @ 0.84% V 2 O 5 from 10.5 m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_005

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-2)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_005
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.41
- Grade Unit: %
- Intercept: 5.4 m
- From: 19.5 m
- To: 24.9 m
- Hole Depth: 37 m
- Intercept Depth: 19.5 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_005:19.5-24.9
- Mining Method: unknown

#### Location

- Easting: 694351
- Northing: 7735523
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.3
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept provides a good vanadium grade over a moderate width, supporting the overall positive outlook for the deposit and its resource potential.

- Positive factor: Strong vanadium grade \(0.41% V2O5\)

- Positive factor: Moderate intercept length \(5.4 m\)

- Positive factor: Part of a resource definition drill program

Evidence · text

> Hole NQVP23\_005 - 5.4 m @ 0.41% V 2 O 5 from 19.5 m \(0.30%V 2 O 5 cut-off\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_005

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-3)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_005
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.77
- Grade Unit: %
- Intercept: 0.8 m
- From: 12.9 m
- To: 13.7 m
- Hole Depth: 37 m
- Intercept Depth: 19.5 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_005:12.9-13.7
- Mining Method: unknown

#### Location

- Easting: 694351
- Northing: 7735523
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.3
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This sub-interval highlights a strong vanadium grade within the broader intercept, reinforcing the presence of high-grade mineralization at shallow depths.

- Positive factor: Strong vanadium grade \(0.77% V2O5\)

- Positive factor: Indicates a high-grade zone within the broader intercept

- Positive factor: Shallow intercept depth \(12.9 m\)

Evidence · text

> including 0.8 m @ 0.77% V 2 O 5 from 12.9 m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_004

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-4)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_004
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.47
- Grade Unit: %
- Intercept: 4.7 m
- From: 9.5 m
- To: 14.2 m
- Hole Depth: 36 m
- Intercept Depth: 9.5 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_004:9.5-14.2
- Mining Method: unknown

#### Location

- Easting: 693047
- Northing: 7733163
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.3
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept demonstrates a strong vanadium grade at a very shallow depth, which is highly positive for potential open-pit mining scenarios and resource definition.

- Positive factor: Strong vanadium grade \(0.47% V2O5\)

- Positive factor: Shallow intercept depth \(9.5 m\)

- Positive factor: Part of a resource definition drill program

Evidence · text

> Hole NQVP23\_004 - 4.7 m @ 0.47% V 2 O 5 from 9.5 m \(0.30%V 2 O 5 cut-off\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_004

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-5)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_004
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.72
- Grade Unit: %
- Intercept: 1.1 m
- From: 20.5 m
- To: 21.6 m
- Hole Depth: 36 m
- Intercept Depth: 9.5 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_004:20.5-21.6
- Mining Method: unknown

#### Location

- Easting: 693047
- Northing: 7733163
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.3
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This sub-interval shows a strong vanadium grade, confirming the presence of high-grade mineralization within the broader intercept and adding to the positive outlook.

- Positive factor: Strong vanadium grade \(0.72% V2O5\)

- Positive factor: Indicates a high-grade zone within the broader intercept

Evidence · text

> including1.1 m @ 0.72% V 2 O 5 from 20.5 m

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_001

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-6)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_001
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.43
- Grade Unit: %
- Intercept: 1.6 m
- From: 17.4 m
- To: 19 m
- Hole Depth: 30 m
- Intercept Depth: 17.4 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_001:17.4-19
- Mining Method: unknown

#### Location

- Easting: 692239
- Northing: 7734776
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a moderate vanadium grade at shallow depth, contributing to the overall understanding of the deposit.

- Positive factor: Moderate vanadium grade \(0.43% V2O5\)

- Positive factor: Shallow intercept depth \(17.4 m\)

Evidence · table

> 0.43%

Context: 1.6

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_002

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-7)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_002
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.49
- Grade Unit: %
- Intercept: 1.3 m
- From: 10.2 m
- To: 11.5 m
- Hole Depth: 31 m
- Intercept Depth: 10.2 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_002:10.2-11.5
- Mining Method: unknown

#### Location

- Easting: 692122
- Northing: 7733776
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a moderate vanadium grade at shallow depth, contributing to the overall understanding of the deposit.

- Positive factor: Moderate vanadium grade \(0.49% V2O5\)

- Positive factor: Shallow intercept depth \(10.2 m\)

Evidence · table

> 0.49%

Context: 1.3

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_003

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-8)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_003
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.49
- Grade Unit: %
- Intercept: 2.5 m
- From: 14.9 m
- To: 17.4 m
- Hole Depth: 37 m
- Intercept Depth: 14.9 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_003:14.9-17.4
- Mining Method: unknown

#### Location

- Easting: 693171
- Northing: 7734158
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a moderate vanadium grade at shallow depth, contributing to the overall understanding of the deposit.

- Positive factor: Moderate vanadium grade \(0.49% V2O5\)

- Positive factor: Shallow intercept depth \(14.9 m\)

Evidence · table

> 0.49%

Context: 2.5

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_004

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-9)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_004
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.65
- Grade Unit: %
- Intercept: 1.4 m
- From: 20.2 m
- To: 21.6 m
- Hole Depth: 36 m
- Intercept Depth: 20.2 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_004:20.2-21.6
- Mining Method: unknown

#### Location

- Easting: 693047
- Northing: 7733163
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a strong vanadium grade at shallow depth, reinforcing the high-grade potential of the deposit.

- Positive factor: Strong vanadium grade \(0.65% V2O5\)

- Positive factor: Shallow intercept depth \(20.2 m\)

Evidence · table

> 0.65%

Context: 1.4

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_005

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-10)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_005
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.6
- Grade Unit: %
- Intercept: 2.6 m
- From: 10.6 m
- To: 13.2 m
- Hole Depth: 37 m
- Intercept Depth: 10.6 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_005:10.6-13.2
- Mining Method: unknown

#### Location

- Easting: 694351
- Northing: 7735523
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a strong vanadium grade at shallow depth, reinforcing the high-grade potential of the deposit.

- Positive factor: Strong vanadium grade \(0.60% V2O5\)

- Positive factor: Shallow intercept depth \(10.6 m\)

Evidence · table

> 0.60%

Context: 2.6

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_006

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-11)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_006
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.67
- Grade Unit: %
- Intercept: 1.1 m
- From: 8.6 m
- To: 9.7 m
- Hole Depth: 25 m
- Intercept Depth: 8.6 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_006:8.6-9.7
- Mining Method: unknown

#### Location

- Easting: 694201
- Northing: 7734286
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a strong vanadium grade at a very shallow depth, which is highly positive for potential open-pit mining scenarios.

- Positive factor: Strong vanadium grade \(0.67% V2O5\)

- Positive factor: Very shallow intercept depth \(8.6 m\)

Evidence · table

> 0.67%

Context: 1.1

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_007

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-12)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_007
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.52
- Grade Unit: %
- Intercept: 1.6 m
- From: 21 m
- To: 22.6 m
- Hole Depth: 36 m
- Intercept Depth: 21 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_007:21-22.6
- Mining Method: unknown

#### Location

- Easting: 695095
- Northing: 7733418
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a strong vanadium grade at shallow depth, contributing positively to the deposit's grade profile.

- Positive factor: Strong vanadium grade \(0.52% V2O5\)

- Positive factor: Shallow intercept depth \(21 m\)

Evidence · table

> 0.52%

Context: 1.6

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_008

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-13)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_008
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.71
- Grade Unit: %
- Intercept: 1.6 m
- From: 10 m
- To: 11.6 m
- Hole Depth: 26 m
- Intercept Depth: 10 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_008:10-11.6
- Mining Method: unknown

#### Location

- Easting: 695221
- Northing: 7734412
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a strong vanadium grade at shallow depth, reinforcing the high-grade potential of the deposit.

- Positive factor: Strong vanadium grade \(0.71% V2O5\)

- Positive factor: Shallow intercept depth \(10 m\)

Evidence · table

> 0.71%

Context: 1.6

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

### NQVP23\_009

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-drill-facts-14)

Cambridge Vanadium deposit · vanadium

#### Identity

- Hole ID: NQVP23\_009
- Project: Cambridge Vanadium deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: VLX

#### Geometry

- Grade: 0.48
- Grade Unit: %
- Intercept: 1.2 m
- From: 4.4 m
- To: 5.6 m
- Hole Depth: 20 m
- Intercept Depth: 4.4 m

#### Classification

- Program: resource
- Sample Type: drill
- Group ID: NQVP23\_009:4.4-5.6
- Mining Method: unknown

#### Location

- Easting: 692334
- Northing: 7735515
- CRS: GDA2020 / MGA zone 54
- EPSG: 7854
- Dip: 90 °
- Loc. Confidence: high
- Loc. Source: document

#### QA/QC

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS
- QA/QC Disclosed: Yes
- Lab Certified: Yes
- QP Signed: Yes
- QA/QC Methods: standards, blanks, duplicates, umpire

#### Compositing

- Cutoff Grade: 0.4
- Cutoff Unit: % V2O5

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This intercept from the 0.40% V2O5 cut-off table shows a moderate vanadium grade at an extremely shallow depth, which is highly positive for potential open-pit mining scenarios.

- Positive factor: Moderate vanadium grade \(0.48% V2O5\)

- Positive factor: Extremely shallow intercept depth \(4.4 m\)

Evidence · table

> 0.48%

Context: 1.2

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: qaqc\_disclosed is true

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: drill\_program\_type is "resource"

## Resource Estimates (4)

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-resource-facts-15)

Cambridge Deposit · vanadium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Cambridge Deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: Queensland, Australia
- Ticker: VLX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Dufresne et al.
- Resource group id: resource:51df37146e82a76ca068

#### Resource Data

- Category: indicated
- Tonnes: 61330000
- Grade: 0.34
- Grade Unit: % V2O5
- Cutoff Grade: 0.25
- Cutoff Unit: % V2O5

#### Prior Estimate

- Resource Date: 2022-11-01

#### Lab

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2022-11-01T00:00:00.000Z

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This is a historical Indicated Mineral Resource estimate for vanadium, providing a baseline for the project but not representing new information in this release.

- Positive factor: Significant tonnage in Indicated category

- Positive factor: CIM compliant resource estimate

- Negative factor: Historical estimate, not new information

Evidence · text

> Indicated Mineral Resource of 61.33 Mt @ 0.34% V 2 O 5

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-resource-facts-16)

Cambridge Deposit · molybdenum

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Cambridge Deposit
- Commodity: molybdenum
- Region: australia\_qld
- Reported Region: Queensland, Australia
- Ticker: VLX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Dufresne et al.
- Resource group id: resource:51df37146e82a76ca068

#### Resource Data

- Category: indicated
- Tonnes: 61330000
- Grade: 234.6
- Grade Unit: ppm MoO3
- Cutoff Grade: 0.25
- Cutoff Unit: % V2O5

#### Prior Estimate

- Resource Date: 2022-11-01

#### Lab

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2022-11-01T00:00:00.000Z

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This is a historical Indicated Mineral Resource estimate for molybdenum, indicating byproduct potential but not new information in this release.

- Positive factor: Molybdenum as a potential byproduct

- Negative factor: Historical estimate, not new information

Evidence · text

> 234.6 ppm MoO 3

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-resource-facts-17)

Cambridge Deposit · vanadium

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Cambridge Deposit
- Commodity: vanadium
- Region: australia\_qld
- Reported Region: Queensland, Australia
- Ticker: VLX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Dufresne et al.
- Resource group id: resource:46f741230f3883b0c82d

#### Resource Data

- Category: inferred
- Tonnes: 144870000
- Grade: 0.33
- Grade Unit: % V2O5
- Cutoff Grade: 0.25
- Cutoff Unit: % V2O5

#### Prior Estimate

- Resource Date: 2022-11-01

#### Lab

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2022-11-01T00:00:00.000Z

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This is a historical Inferred Mineral Resource estimate for vanadium, indicating significant potential but with lower confidence and not representing new information in this release.

- Positive factor: Large tonnage in Inferred category

- Positive factor: CIM compliant resource estimate

- Negative factor: Inferred category has lower confidence

- Negative factor: Historical estimate, not new information

Evidence · text

> Inferred Mineral Resource of 144.87 Mt @ 0.33% V 2 O 5 \( cut-off grade of 0.25% V 2 O 5 \)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/velox-drilling-identifies-high-grade-vanadium-zone-within-the-cambridge-deposit--843e8262-3972-44a9-84ce-2b5e3fb6e2be#fact-resource-facts-18)

Cambridge Deposit · molybdenum

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Cambridge Deposit
- Commodity: molybdenum
- Region: australia\_qld
- Reported Region: Queensland, Australia
- Ticker: VLX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Dufresne et al.
- Resource group id: resource:46f741230f3883b0c82d

#### Resource Data

- Category: inferred
- Tonnes: 144870000
- Grade: 241.9
- Grade Unit: ppm MoO3
- Cutoff Grade: 0.25
- Cutoff Unit: % V2O5

#### Prior Estimate

- Resource Date: 2022-11-01

#### Lab

- Laboratory: Mitra PTS Laboratory and Bureau Veritas and ALS

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2022-11-01T00:00:00.000Z

#### Dates

- Event date: 2024-01-23T00:00:00.000Z

Reasoning: This is a historical Inferred Mineral Resource estimate for molybdenum, indicating byproduct potential but with lower confidence and not new information in this release.

- Positive factor: Molybdenum as a potential byproduct

- Negative factor: Inferred category has lower confidence

- Negative factor: Historical estimate, not new information

Evidence · text

> 241.9 ppm MoO 3

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.