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King River Copper surges on positive test results for high purity vanadium

Product from Speewah is aimed at meeting vanadium flow battery requirements.

Overlooking Speewah project
King River’s Speewah product is in the East Kimberley region of Western Australia

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.

The quality of high purity vanadium pentoxide is now 99.48%.

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.

Part of vanadium concept study

This 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 base framework for a new scoping study into the production and marketability of vanadium electrolyte products used in VFBs.

Vanadium product generation test work is trialling selective chemical precipitation methods using various precipitating agents and controlling acidity, redox potential and temperature.

This process is different from other producers that use salt roast technology or solvent extraction methods.

Positive hydrochloric acid leach results

The tests have also produced positive hydrochloric acid leach results of 97-99% vanadium, 95-97% titanium and 96-98% iron leach efficiencies from the vanadium-titanium magnetite concentrate.

Further test work is planned to generate more product, improve recoveries and increase the purity to greater than 99.5% vanadium pentoxide.

King River then plans to use this material for the manufacture of vanadium electrolytes.

With the titanium dioxide tests, the company plans further tests to improve recoveries and increase the grade to 99.9%.

Research is also underway to produce titanium metal sponge.

READ: King River Copper’s shares surge higher following fluorite resource upgrade

The company envisages an open cut mining operation at Speewah based on the high-grade zone of the Central deposit which outcrops and has shallow dipping geometry.

King River is funded to complete the test work and complete the concept and scoping studies.

Quick facts: King River Resources Ltd

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ASX:KRR
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Market Cap: $43.5 m
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King River Resources Ltd - Elevator Pitch

Anthony Barton, non executive chairman of King River Resources Ltd (ASX:KRR), pitches the company to investors. For more information visit https://kingriverresources.com.au/

on 24/1/19

3 min read