The 45-hole, 6,730-metre diamond and reverse circulation (RC) program demonstrated continuity of high-grade mineralisation along strike and down dip.
It has infilled and extended defined vanadium mineralisation as part of an ongoing definitive feasibility study (DFS) at the project.
TMT’s managing director Ian Prentice said: “Gabanintha drilling results continue to confirm the strength of this globally significant vanadium project.”
He said a material increase to the global resource, and more importantly the indicated resource component was expected early in 2019 “as part of the rapidly progressing high-quality DFS”.
There were nine diamond holes in the North Pit area, eight diamond holes and 16 RC holes in the Central Pit area, and four diamond holes and eight RC holes in the Southern Tenement.
The aim was to infill and extend the Northern Block resource estimate in the North and Central pit areas, including increasing the indicated resource and probable reserve categories.
High-grade intersections – North Pit, Northern Block.
TMT also intends to upgrade part of the Southern Tenement inferred resource estimate to the indicated category.
High-grade Central Pit result
A Central Pit extension RC hole returned a 61-metre intersection from 140 metres at 0.84% vanadium pentoxide, including 13 metres at 1.18% from 148 metres and 17 metres at 1.02% from 176 metres.
An initial depth extension diamond hole in the North Pit returned 13 metres at 1.13% V2O5 from 144 metres.
High-grade intersections – Central Pit, Northern Block.
Also, in North Pit infill diamond holes confirmed very shallow weathering and low oxidation levels.
The drilling was also aimed at providing geotechnical data, in particular for the footwall portions of the designed PFS open pits, to provide data to enable steepening of the designed open pit walls, thereby decreasing overall strip ratio.
Drill collar location plan, Northern Block of tenements.
It has also generated additional bulk diamond core samples for ongoing metallurgical test work, including testing by proposed process plant equipment suppliers.
The detailed, high-quality DFS for the Gabanintha project is progressing well and the company said it was on track for delivery in the June quarter of 2019.
Global mineral resource estimate for the Gabanintha Vanadium Project as at March 5, 2018.
Ongoing DFS activities
Ongoing activities in support of the DFS include:
- Updating the global mineral resource, including the indicated portion of the resource;
- Revising the PFS open pit mine designs incorporating updated geotechnical data;
- Updating mine scheduling based on detailed geometallurgical data;
- Provide an updated ore reserve estimate within the expanded mineral resource;
- Processing plant 3D modelling and layout progressing on schedule;
- Major process plant equipment requests for quote packages either sent out to preferred vendors or under final evaluation; and
- Revised capital and operating cost estimates to a DFS level of accuracy and an updated project financial model.