| Date: Feb 27, 2018 |
| King River Copper Ltd (ASX:KRC) surged to a new 12-month high on test results that have improved the quality of vanadium that can be produced from the Speewah project in Western Australia.
The results have boosted the capability of product to meet vanadium flow battery (VFB) market requirements. Shares were up to $0.72 intra-day, up more than 26% on the close at Monday’s trading halt and on strong volume of more than 46 million. READ: King River Copper test results lift project’s titanium and vanadium potential The latest hydrometallurgical test work has lifted the high purity vanadium pentoxide product to 99.48% from 95.5%. Vanadium precipitation recovery from the leach solution into the crude precipitate was also increased to 96%. Earlier work lifted the high purity titanium dioxide product from the Western Australian project to 99.5% from 99.1%. Aim of improving purity of products The test work is ongoing and has the aim of improving the purity of both products, which are key components of vanadium flow batteries. Speewah is in the East Kimberley region and is the largest vanadium-in-magnetite deposit in Australia with the highest vanadium grade in the magnetite concentrate. The deposit comprises a measured, indicated and inferred resource of 4.712 billion tonnes at 0.3% vanadium pentoxide, 2% titanium and 14.7% iron. Hydrometallurgical test work is being carried out by TSW Analytical Pty Ltd, a team of chemists and analysts with experience in the development and assay of high purity products. |
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