Technology Metals Australia Ltd (ASX:TMT) has delivered “industry-leading” roast-leach vanadium recoveries for the Yarrabubba Project, as well as enhanced performance for Gabanintha Project, both within the Murchison Technology Metals Project (MTMP) in Western Australia.
The company’s comprehensive vanadium roast-leach test-work program has confirmed high vanadium recoveries up to 96% delivered from batch kiln roast-leach tests on the representative Yarrabubba composite.
Notably, tests conducted by leading kiln supplier FLSmidth in Pennsylvania have confirmed the suitability of Yarrabubba ore to be processed through the Gabanintha vanadium processing plant.
Looking ahead, these tests demonstrate the ability to achieve very rapid conversion and very good physical flow behaviour, highlighting the scope for enhanced operating parameters at MTMP.
Securities have been as much as 18.1% higher in the first hour of trade to $0.555.
Updating ore reserve
TMT managing director Ian Prentice said: “Completion of this work in collaboration with FLSmidth marks a key milestone for the MTMP, confirming industry-leading vanadium recoveries across the extent of the project using standard processing technologies.
“Outcomes of this comprehensive roast-leach test-work phase support delivery of an updated ore reserve estimate as a core component of the Integration Study, and importantly enable smooth progression to the Implementation Phase of the project, accelerating the delivery of the world’s next large-scale primary vanadium mine.”
Roast-leach test-work
The completion of this test-work program in collaboration is a considerable step forward for the project, highlighting that MTMP ore feed, from both Yarrabubba and Gabanintha, can deliver industry-leading vanadium recoveries using standard vanadium processing technology.
New batch kiln roast-leach test-work on the original Gabanintha pilot sample delivered rapid conversion and vanadium recoveries up to 98%.
Notably, the tests confirm superior metallurgical characteristics of the MTMP orebody.
Moving forward, this work represents a very solid foundation for the completion of the Integration Study and progression of the MTMP into the Implementation Phase, with the scope to deliver improved kiln recoveries and operating parameters compared to the 2019 DFS.
About MTMP
The Murchison Technology Metals Project consists of the Gabanintha Project and the Yarrabubba Project, to the south of Meekatharra in the Mid-West of Western Australia.
Gabanintha was the subject of a definitive feasibility study as a standalone vanadium development project, delivering robust economics over initial 16-year mine life.
The satellite Yarrabubba deposit offers higher vanadium in concentrate grades (than Gabanintha) and the opportunity to produce a highly sought after titanium co-product, making it an attractive addition to the MTMP.
Integration of Yarrabubba into the MTMP, and the resultant opportunity to enhance the economics of the project as well as accelerate the delivery of vanadium production, combined with the advanced stage of Gabanintha approvals, provide opportunities to actively progress offtake discussions with a range of counterparties across a range of industries and geographic jurisdictions.
Vanadium market outlook
The global vanadium price has appreciated significantly over the past 12 months as global economies are starting to recover from the impacts of the COVID-19 pandemic.
Stimulus spending focused on enhanced infrastructure has supported the growth in the use of construction steel and a clear focus on reducing global emissions resulting in increasing deployment of renewable energy and the associated increased requirements for grid-scale stationary storage solutions such as VRFBs.
In recent times, the European vanadium price appreciation has accelerated significantly as a result of the conflict in Ukraine, with the expectation of significant supply disruptions following sanctions on Russia.
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