The latest hydrometallurgical test work has lifted the high purity titanium dioxide product to 99.5% from 99.1%.
Earlier work resulted in a vanadium pentoxide product that assayed 95.5%.
Further tests are being carried out with the aim of further improvements in purity of both products, which are used in vanadium flow batteries.
Test results have supported an increase in King River’s share price, which increased 8% in early trade to $0.054 on strong volume of more than 10 million.
King River has been one of the ASX’s best performers in 2018, increasing from $0.01 on 2 January to a 12-month high $0.059 mid-month.
Vanadium Concept Study
The test work forms part of a Vanadium Concept Study into the production of high purity vanadium pentoxide and titanium dioxide products from the Central vanadium deposit at Speewah.
The major objective is to identify a framework for a new scoping study into the production and marketability of vanadium electrolyte products.
Hydrothermal and chemical precipitation test work is being carried out by TSW Analytical.
The initial focus of the titanium dioxide tests has been the precipitation of a product by hydrothermal methods without the addition of any reagents.
Largest vanadium-in-magnetite deposit
King River’s measured, indicated and inferred resource at Speewah is 4.7 billion tonnes at 0.3% vanadium, 2% titanium and 14.7% iron.
This is Australia’s largest vanadium-in-magnetite deposit and is in the state’s Kimberley region.
Open cut mining operation proposed
The company envisages an open cut mining operation at the Central Vanadium deposit, which outcrops and has shallow dipping geometry.
Initially a magnetite concentrate grading greater than 2% vanadium pentoxide is produced by crushing, grinding and magnetic separation methods.
The vanadium and titanium enriched concentrate is then leached in hydrochloric acid to release the vanadium and titanium metals into solution.
This would then be separated by hydrothermal and chemical precipitation methods followed by purification steps to produce vanadium pentoxide and titanium dioxide products.
King River recently received firm commitments to raise $1.2 million through the placement of 40 million shares at $0.03 to professional and sophisticated investors.
The company is now funded to complete the test work and complete the concept and scoping study.