Technology Metals Australia Ltd

Technology Metals vanadium drill results support expansion potential

The results will feed into a global resource upgrade for the flagship project.

RC drill rig on site at Gabanintha
DFS activities underway include resource update, Ore Reserve update and revised cost estimates

Technology Metals Australia Ltd (ASX:TMT) has received drill results from its stage I drill program at its Gabanintha Vanadium Project in Western Australia.

The 28-hole, 3,714-metre reverse circulation (RC) program aimed to infill and extend the current JORC resource spread across the Northern Block and Southern Tenement areas.

Significantly, the program has been successful in both infilling and extending the defined vanadium mineralisation.

Highlights include depth extension intersections of 25-50 metres down dip from 14 metres at 1.17% vanadium and 300+ metre strike extensions from 16 metres at 1.26% vanadium. 

READ: Technology Metals Australia concludes stage I project enhancement drilling at Gabanintha

Technology Metals’ managing director Ian Prentice said: “The results of the RC drilling from the stage I enhancement drilling program have delivered exceptional strike continuity, and down dip extension, of the massive magnetite mineralisation.

“These results are expected to materially increase the Global Resource and more importantly the Indicated Resource component, of this globally significant vanadium project.”

The current global resource consists of 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the Southern Tenement.

Assays from Northern Block confirm extension potential

The 28 hole program comprised 16 holes in the Central Pit area and4 holes in the North Pit area, both in the Northern Block – and 8 holes in the Southern Tenement.

Results from the Central Pit area confirm consistency of grade and width of the high-grade mineralisation along strike and down-dip.

Drilling also intersected mineralisation 25-50 metres down-dip from the existing resource and over 300 metres along strike to the south.

The four holes at North Pit were pre-collars for deeper diamond holes but notably, two of the holes intersected vanadium including 15 metres at 0.94% vanadium from 127 metres.

Mineralisation in every hole at Southern Tenement

RC drilling on the Southern Tenement was designed to infill to 100-metre line spacing along the majority of the strike length of the mineralisation.

The RC infill drilling was successful in intersecting the high-grade massive vanadium magnetite mineralisation in every hole.

Diamond drill results pending, more RC drilling planned

All diamond core from the diamond drilling holes completed in the North and Central pit areas of the Northern Block has been sent to the lab for assays.

Sections of the drill core will also be used for metallurgy test work.

Processing of diamond core from the Southern Tenement will occur once all of the Northern Block core has been processed.

An additional program of RC drilling is also scheduled to commence this week focused on water assessment and mine site location suitability.

Quick facts: Technology Metals Australia Ltd

Price: $0.19

Market: ASX
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Technology Metals Australia Ltd (ASX:TMT) executive director Ian Prentice updates Proactive Investors on the DFS results from its Gabanintha Vanadium Project in WA, which has ascribed the project a valuation pre-tax of A$1.32 billion.    Prentice said the study results...

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