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King River Copper scoping study results outline viable vanadium project

The study demonstrates a viable open-pit mining operation with a positive business case.

vanadium periodic table symbol
The primary focus in coming months will be investigating leaching processing options

King River Copper Ltd (ASX:KRC) has received the scoping study results for its 100% owned Speewah Vanadium-Titanium-Iron Project in Western Australia.

The scoping study’s objective was to determine the potential viability of an open pit mine with an on-site magnetic separation process followed by a hydro-metallurgical recovery of vanadium, titanium and iron.

The study presents a cohesive project that demonstrates a viable business case for further development.

Importantly, the scoping study sees a positive business case with a healthy cash flow margin that supports progression to the pre-feasibility study (PFS) stage.

READ: King River Copper begins deep diamond drilling to test Chapman gold prospect

The preliminary infrastructure strategy is to establish the primary processing facilities on site.

The processed product, a magnetic concentrate will then be transported to a hydro-metallurgical facility in Wyndham located 170 kilometres north.

Progressing to a PFS, full production 2023

The next stage of progression is completing a more in-depth PFS, which will provide a net present valuation (NPV) for the proposed operation.

The board will authorise the commencement of a PFS early in 2019 after current heap leach analysis has been completed.

King River intends to make the appointment of a project manager for the PFS a top priority.

A preliminary project implementation timeline estimates full production being achieved in July 2023.

Quick facts: King River Resources Ltd

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ASX:KRR
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Market Cap: $26.22 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

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