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Technology Metals Australia halted with announcement pending in relation to Gabanintha project tenure

An improved Gabanintha Vanadium Project resource estimate would potentially deliver an increase in operating life.

Technology Metals Australia Ltd -
The Gabanintha Project is in the Meekatharra region of Western Australia.

Technology Metals Australia Ltd (ASX:TMT) is in a trading halt pending release of an announcement in relation to tenure of the Gabanintha Vanadium Project.

The trading halt will remain in place until the beginning of trade on Wednesday, September 2, or when an announcement is released to the market, whichever occurs earliest.

Scope to boost mine life

In July, the company increased the Gabanintha Vanadium Project measured and indicated resource by 32% to 9.6 million tonnes at 1% vanadium, providing scope to extend the mine life.

The increase is a result of a maiden indicated mineral resource for the Southern Tenement of 9.6 million tonnes at 1.0% V2O5.

This forms part of the overall resource estimate at this tenement of 27.7 million tonnes at 0.9% V2O5, an increase of 29% from the previous estimate of 21.5 million tonnes.

Within this is a high-grade component of 14.4 million tonnes at 1.1% V2O5.

The global mineral resource estimate for Gabanintha, which also includes the Northern Tenement, now sits at 137.2 million tonnes at 0.9% vanadium.

Quick facts: Technology Metals Australia Ltd

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Technology Metals Australia's Ian Prentice highlights big increase to...

Technology Metals Australia Ltd's (ASX:TMT) Ian Prentice speaks to Proactive's Andrew Scott after announcing they've increased proven and probable ore reserves by 32% to 39 million tonnes at 0.9% vanadium pentoxide at the Gabanintha Vanadium Project (GVP) in Western Australia. The updated ore...

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