In 50% partnership with Stonehenge Korea Ltd, Protean's South Korean vanadium/uranium mineral project, Daejon is a unique sediment hosted shale/slate bed vanadium deposit which has the potential to produce high purity vanadium pentoxide (V2O5). The project has access to 36,000m of historical core, allowing for cost efficient, non-destructive pXRF testing of mineralized sections.
Assays undertaken across 40% of the known Daejon mineralization strike length have resulted in a Combined Mineral Resource Estimate (JORC 2012) of 37.1 Mt @ 3,000ppm V2O5 (2,000ppm cut-off) and 120ppm U3O8 defined for a total of 248 Mlbs V2O5 and 10 Mlbs U3O8.
• Indicated 3.4 Mt @ 3,500ppm V2O5 and 150ppm U3O8
• Inferred 33.7 Mt @ 3,000ppm V2O5 and 120ppm U3O8
Protean, in partnership with its 50% Korean Partner, KORID Energy Ltd, is developing proprietary vanadium redox flow battery (VRFB) energy storage technology, known as V-KOR. Developed over the last 10 years and having run over 3,000 cycles, the technology has been extensively tested at the Korean facility. In June 2018, a K-VOR battery was deployed into a commercial application in Perth, Australia.
With considerable increases to the price of Vanadium in recent years, and use cases for Vanadium Batteries continuing to quickly expand, Protean is excited by the potential for commercialisation across all areas of the business.