Technology Metals Australia Ltd (ASX:TMT) continues to progress the Murchison Technology Metals Project (MTMP) Integration Study, which is on schedule for delivery in mid-2022.
Work completed has confirmed roast-leach vanadium recoveries for Yarrabubba ore of 85% to 95% and definition of the optimal grind size to maximise both vanadium and titanium recoveries for the ore.
Initial open pit mine scheduling has also been completed to provide clear guidance for the Integration Study.
Managing director Ian Prentice said the results confirmed expectations that the study would enhance the economics of the project.
Study on track for mid-year delivery
The MTMP consists of the Gabanintha Project and the Yarrabubba Project to the south of Meekatharra in the Mid-West region of Western Australia.
Gabanintha was the subject of a definitive feasibility study as a standalone vanadium development project over an initial 16 year mine life.
The Yarrabubba deposit offers higher vanadium in concentrate grades compared to Gabanintha and the opportunity to produce a highly sought-after titanium co-product, making it an attractive addition to the MTMP.
The MTMP is expected to be a long term, low-cost stable producer of high purity vanadium, a mineral which plays a vital role in the effective deployment of renewable energy and reduction of emissions.
The project will also be a producer of the highly desired titanium by-product whilst mining and processing ore from Yarrabubba.
Yarrabubba metallurgical tests
Batch kiln roast-leach test-work was completed at both 150 micron and 250-micron grind sizes, at a range of salt dosages and temperatures.
This work has delivered high vanadium recoveries, ranging from 85% to 95%, confirming that the Yarrabubba ore achieves roast-leach recoveries consistent with the pilot-scale roast-leach test-work completed for the Gabanintha DFS.
These findings conclude that vanadium is readily extractable from the Yarrabubba concentrates. An optimal grind size of 150 microns will maximise both vanadium and titanium recovery from the Yarrabubba ore.
Yarrabubba diamond drilling
A program of large diameter (PQ) diamond core drilling designed to collect a representative bulk sample for metallurgical test-work and customer sample generation was completed in late February.
The program consisted of 21 PQ diamond drill holes also designed to infill the southern and thicker portion of the Yarrabubba mineral resource estimate (MRE), with the aim of upgrading a significant portion of the indicated MRE to the highest confidence measured mineral resource category.
Geotechnical diamond drilling
A program of geotechnical diamond drilling has been completed, with five holes drilled at Yarrabubba and four at Gabanintha North Pit.
The data found from this drilling project will be used by the company’s mining consultants to optimise open pit design parameters as part of the mine design to be incorporated into the MTMP integration study.
Integrated MTMP ore reserve
An integrated MTMP ore reserve estimate will be prepared based on the global measured and indicated MRE of 50.2 million tonnes at 0.9% V2O5.
The ore reserve estimate will be based on the updated mine designs incorporating geotechnical data collected from the recently completed diamond drilling program and an assessment of the open pit mine scheduling taking into account the optimal sequencing of ore sources across the MTMP.
Downstream processing
TMT is progressing a range of workstreams in support of downstream processing opportunities, linking the production of low-cost high purity vanadium from the MTMP with value added industries in Australia.
This strategy is highlighted by a recently announced expanded MOU with LE System (LES), which provides the framework for TMT and LES to jointly undertake a feasibility study into the development of vanadium electrolyte production capacity.
Vanadium electrolyte is the key component used in vanadium redox flow batteries (VRFBs), which are large-scale stationary storage batteries used in conjunction with renewable energy sources and for grid stabilisation.
Vanadium market outlook
The global price of vanadium has grown significantly in the past 12 months, as global economies recover from the effects of COVID-19.
More recently, the European vanadium price has accelerated as a result of the conflict in Ukraine, with the expectation of significant supply disruptions following sanctions on Russia.
Russia accounted for 8% of the global vanadium supply in 2021.
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