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Technology Metals Australia upgrades vanadium resource ahead of DFS

The company expects to release Gabanintha Vanadium Project’s definitive feasibility study mid-year.

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The resource upgrade will be key to support an extension to the project mine life

Technology Metals Australia Ltd (ASX:TMT) has upgraded the measured and indicated resource for the Northern Block by 39% to 30.1 million tonnes at 0.93% vanadium pentoxide.

The global resource for TMT’s Gabanintha Vanadium Project in Western Australia is now 131 million tonnes at 0.9% vanadium pentoxide after adding the resource estimate for the Southern Block.

Gabanintha Vanadium Project resource areas

The resource estimation was completed by geological consultants CSA Global based on data from TMT’s 2017 and 2018 reverse circulation (RC) and diamond drilling programs.

The 2018 resource infill and extension drilling program consisted of 45 holes for 6,730 metres across the Northern Block of tenements and the Southern Tenement, with a focus on expanding the indicated resource in the Northern Block of tenements.

Data from the bulk sample diamond drilling in the North Pit area (21 diamond drill holes for 1,483.4 metres) has also been used in the resource estimation.

Global resource for the Gabanintha Vanadium Project

Notably, the global resource of the project now includes an outstanding high-grade component of 71.2 million tonnes at 1.1% vanadium and 12.7% titanium contained within the consistently mineralised massive magnetite zone.

TMT managing director Ian Prentice said: “The significant increase to the indicated resource, a key component to support a material extension to the project mine life, and the substantial increase to the high grade portion of the resource, provides an indication of the potential very long tenor of this high quality globally significant vanadium project.”

READ: Technology Metals raises more than $4.5 million in share placement for Gabanintha DFS

Infill and extension resource drilling for the Southern Tenement was completed in the 2018 drilling program.

The results of the RC component of this drilling have been received, however with the company’s focus on the upgrade of the Northern Block resource, this data has not yet been incorporated into an updated Southern Tenement resource estimate.

The upgrade of the Southern Tenement resource will be completed in due course, which is expected to deliver a maiden indicated resource for this area and further expand the global resource.

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