Ferro-Alloy Resources Ltd (LSE:FAR) has said it is making strong progress with its ongoing feasibility work on the large Balasausqandiq vanadium deposit in Southern Kazakhstan.
Following completion of the drilling programme for phase 1 of the feasibility study, an updated resource estimate will be announced during the first quarter of 2023.
The drilling programme for phase 2 of the feasibility study has also largely been completed, and the company is assessing options for drilling a remaining area of difficult topography.
Meanwhile, metallurgical test-work continues to advance at SGS Lakefield under the supervision of TetraTech.
Extraction of vanadium during acid leaching continues to be above expectations with 94-97% vanadium extraction into solution. The test-work programme will also complete subsequent phases of vanadium, uranium, molybdenum and potassium alum extraction stages, and solid-liquid separation tests.
Additional technical studies are advancing to understand and validate the potential use of the carbon-rich tailings for the production of a carbon black substitute for the making of rubber and as a feed for the production of ferro silicon.
Geotechnical drilling has now commenced and will continue into 2023. The results of the drilling and subsequent mechanical testing programme will be used to confirm the open pit slope design.
In addition, a geophysical survey of the water supply bore field area is underway. The results of the survey will be used to define the fieldwork programme required to define the water extraction bore field required to support the projects water needs.
Following unscheduled delays during the course of 2022, in the main as a result of capacity issues within the mineral analysis industry, the company now expects the feasibility study for phase 1 of the project to be published during the fourth quarter of 2023 as opposed to the middle of 2023 as previously anticipated.
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