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Element 25 progresses Butcherbird high purity manganese PFS towards Q3 completion

The company has appointed BurnVoir Corporate Finance as financial adviser to begin arranging financing for development of the Butcherbird project.

The Butcherbird project looking southeast over the processing plant area

Element 25 Ltd (ASX:E25) is on track to complete a pre-feasibility study (PFS) at the Butcherbird High Purity Manganese Project in WA later this quarter.

The PFS is anticipated to provide a robust base case for commercialisation of the world-class project, which hosts a JORC-compliant resource in excess of 263 million tonnes of manganese ore.

The company intends to produce high purity manganese including manganese sulphate for lithium-ion batteries (HPMS) and Electrolytic Manganese Metal (EMM).

READ: Element 25 to accelerate manganese project PFS after raising almost $1.39 million

E25 is also assessing a hybrid wind and gas power solution aimed at driving down the cost of power and improving the carbon emissions profile of the project.

Preliminary mine planning based on the updated 2019 resource estimate has been completed, including open pit optimisation, mine design and mine scheduling.

This was used as the basis of obtaining contractor quotes for mining costs.

A second round of open pit optimisation, design and scheduling is planned at the end of the PFS, which will form the basis of a maiden ore reserve.

The final Native Title Agreement required for the grant of M52/1074 was signed during the quarter with the Karlka Nyiyaparli Aboriginal Corporation RNTBC and gives the company certainty on the development of the project.

READ: Element 25 enters option agreement for potential sale of Cummins Range Project

Roskill Information Services has been engaged to provide the research and market analysis for the PFS, with numerous potential offtake parties for the EMM product including Japan, South Korea, the USA, Europe and South East Asia.

This also includes contact with well known battery and vehicle manufacturers with visits by interested parties planned for the next quarter.

Work programs

Work programs planned for the remainder of 2019 include:

  • Subterranean fauna assessment;
  • Soils and landform assessment; and
  • Tailings and mine waste characterisation.

These studies will be incorporated into the upcoming hydrological assessment programs.

The current information will provide input into the PFS/FS and is expected to provide information for the project approval process.

E25 has received results for an aircore drilling program completed in the June quarter targeting channel manganese within a well-defined paleochannel system within the exploration tenure footprint at Butcherbird.

The program, which was partly funded by the Western Australian State Government’s Exploration Incentive Scheme, identified several low-quality manganiferous zones, supported by anomalous assay values, but no economic channel manganese mineralisation was defined.

Quick facts: Element 25 Ltd

Price: 0.4 AUD

Market: ASX
Market Cap: $36.81 m

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Element 25 'well funded' as it progresses PFS on Butcherbird manganese project

Element 25 Ltd's (ASX:E25) Justin Brown sits down with Proactive's Andrew Scott while at Mines and Money in London 2019. The company's flagship asset is the Butcherbird manganese deposit, which has been described as Australia’s largest onshore manganese resource. ''The PFS is around 90%...

on 27/11/19

3 min read