|Green Giant Vanadium|
The Green Giant Vanadium Project, located in Madagascar, is one of the largest known vanadium deposits in the world. The project comprises of several 100% owned claims and additional claims through a 75% ownership interest joint venture partnership (JV) with Malagasy Minerals.
Energizer’s deposit is unique from other known Vanadium deposits because it is sediment-hosted and not magnetite-hosted like the majority of other known Vanadium deposits. As a result, the project would produce as a primary product, a clean liquor requiring less processing to produce the high purity (99.5%), battery-grade vanadium.
Primary Product: Vanadium (V2O5 or Vanadium Pentoxide) in high-purity form (99.5%).
Property Location: South Central Madagascar, 145 km SE of the city of Toliara, Tulear Region (Figure 1).
Land Position: 2155 licences, 1052.7 km2 (36 licences 100% owned, 2119 JV licences 75% owned) (Figure 2).
NI 43-101 Resource Estimate: The Company’s work has resulted in the delineation of a National Instrument 43-101 compliant (NI 43-101) resource estimate with an indicated resource of 49.5 million tonnes at an average grade of 0.693% Vanadium pentoxide (V2O5), containing 756.3 million pounds of V2O5 and an inferred resource of 9.7 million tonnes at an average grade of 0.632% V2O5, containing 134.5 million pounds of V2O5.
This National Instrument 43-101 resource estimate ranks the Green Giant vanadium deposit as the 3rd largest known deposit in the world. Based on the Company’s exploration efforts to date, a 21-km (18 mile) continuous Vanadium trend has been identified on the property, of which we have drilled only 25%. The Vanadium resource comprises of three main sections: Jaky, Manga, and Mainty.
Current Work Program:
Because Energizer’s Green Giant vanadium is sediment-hosted, and not magnetite-hosted like the majority of other known Vanadium deposits, the vanadium will be processed differently than the magnetite-hosted deposits. A well-known process called alkaline press leaching will be utilized to process the vanadium and it is expected to naturally produce a battery-grade form of V2O5 (99.5%+ in purity) directly from the process.
Progress To Date
The Company initiated a PEA study in 2011 but augmented the study due to its graphite discovery. A revised PEA study for the graphite resource is due out in December 2012. Most of the below information will be incorporated in the updated PEA.
Exploration To Date: Since acquiring the Green Giant Vanadium property located in Madagascar in August 2007, Energizer has spent over U.S.$10 million on exploration and developing the project. An extensive exploration program was conducted on the property that resulted in a 43-101 compliant resource: