Date: Jun 22, 2018
Technology Metals Australia (ASX:TMT) released the results of a prefeasibility study for its wholly-owned Gabanintha vanadium project. The recently completed PFS indicates an estimated life of mine of 13 years.
According to the company press release, the PFS also confirms the project to be a high value, relatively low-risk and technically strong development opportunity for Technology Metals. As a result of the positive outcomes, the company’s board has agreed to proceed immediately with the commencement of a definitive feasibility study.
“This is an outstanding result for the technically robust, extremely high quality Gabanintha project in a vanadium market environment that is desperate for injection of new production, with considerable upside expected from the work to be completed during the upcoming definitive feasibility study,” said managing director Ian Prentice.
In addition, life of mine revenue was pegged at AU$4,935 million. The PFS mining and production schedule is based on the ore reserve of 16.7 million tonnes at a mined grade of 0.96 percent vanadium pentoxide contained (V2O5) within the currently defined indicated mineral resource of 21.6 million tonnes at 0.9 percent in the Northern Block of tenements.
