Vanadium
NewEra’s vanadium assets were discovered by the American Vanadium Corporation (“AVC”) in the 1940s following their successful exploitation (1906 – 1956) of the Mina Ragra vanadium mine in central Peru. This mine is one of the highest-grade vanadium deposits known, and it is hosted by bitumen. The AVC discovered > 100 occurrences of vanadium-rich bitumen in the Nequen Basin.
Projects overview
- NewEra has 100% ownership of 30 exploration licence applications across 10 project areas.
- The bitumen is an unexplored 3rd energy asset (after Vaca Muerta shale oil and gas) of a large 120,000 km2 basin.
- Company enjoys “first-mover” status in a new, large un-explored vanadium district.
- Modelling and test -work confirms the bitumen is amenable to gasification.
- Identification of a chemical free processing solution with complete CO2 capture.
- A modular, scalable self-sustaining processing plant with a small environmental footprint to be used.
- Processing will produce blue hydrogen (with almost total CO2 capture) and a vanadium-rich ash.
- Hydrogen can be utilised as hydrogen per se, in the manufacture of ammonia or methanol, or converted into electricity via H2 fuel cells.
- Buyers identified for the energy and ash products.
Energy storage
Vanadium
Projects
All projects are located in the Malargue Department, southern Mendoza province, and are 100% owned by NewEra.
Summary
N.A.
N.A.
1.37
up to 49%
N.A.
N.A.
1646
up to 11%
984
N.A.
N.A.
975
N.A.
N.A.
949
N.A.
N.A.
825
N.A.
N.A.
520
0.18 – 0.83
up to 67%
TOTAL
36,931
Overview
The bitumen veins of the Neuquén Basin are probably the most extensive and best exposed in the world. They are predominantly constrained to Mesozoic sediments in the Andean foothills, and have been grouped into three geographical districts, one of which is SW Mendoza. Here the veins, are typically sills and occur within the Malargüe fold and thrust belt.
The bitumen source (and host) rocks are the organic rich facies of the Mendoza Group (Vaca Muerta shale) which were deposited in a back-arc basin during the late Jurassic and early Cretaceous. The bitumen is enriched in vanadium. Several authors have documented the occurrence of appreciable amounts of vanadium (up to 0.8 wt.%. V2O5, at Minacar). In addition, the shales which often host the bitumen veins are consistently enriched in vanadium.
Bitumen mining commenced in 1887 when a small prospect was exploited at Mina Anita (Mercedes project). Bitumen mining in SW Mendoza reached peak production during the 1940s when wartime embargo’s cut off the supply of British coal to Argentina.
Projects
CERRO DE PANUL
This project is situated approximately 12 km north of the Los Castanos and Mallin Largo mines and comprises a favourable geological setting of pelites cut by dykes. The presence of bitumen has been interpreted from a satellite study.
LOS CASTANOS MINE
The Los Castaños Mine is situated south of the Rio Salado, 47 km north of Malargue at an elevation of 2200 m.
It was one of the largest bitumen mines in the Mendoza Province. (average bitumen thickness = 0.7 m)
MALLIN LARGO MINE
Mallin Largo is situated at an altitude of 1970 m and the project covers a prominent 11-km long anticlinal structure (“Canada Ancha” anticline). Limited exploration and artisanal exploitation during the 1940s reported veins up to 3m thick (strike length unknown) hosted by shales of the Mendoza Group. Occasional bedding parallel offshoots also occur. Interestingly, drilling at the NE of the mine intersected bitumen at levels 53, 64, 95 and 202 m below ground level, indicating the presence of an extensive interconnected network of subsurface bitumen veins in this region. In the 1940s the Vanadium Corporation of America considered Mallin Largo to have very good exploration potential. There has been no activity since this time.
MALARGUE WEST
At Malargüe West, four exploration licence applications have been requested over three known bitumen occurrences and one area of interest over an anticline structure identified from an independent structural study.
LA VALENCIANA MINE
LA VICTORIA (MINA AIDA MINE)
LA ALICIA
MINACAR SOUTH (MINE)
Minacar south is immediately southwest of the Minacar bitumen mine which operated from 1942 to 1951.
The planned exploration program will target continuations of the NNE-SSW striking veins. The principal vanadium rich vein has the form of a laccolith with a thickness of up to 30 m which in places reaches the surface. It is estimated that approximately 500,000 tons of bitumen was “forced” into the crest of an anticlinal structure.
