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- Technology Metals (TMT) confirms broad, high-grade massive magnetite mineralisation at its Yarrabubba Iron-Vanadium Project in WA
- The company drilled 37 holes to infill and extend the mineral resource estimate which will ultimately help to upgrade the ore reserve estimate
- Results include grades of up to 50.2 per cent iron, 1.16 per cent vanadium pentoxide and 13 per cent titanium dioxide and TMT believes this work will improve the mineral resource and ore reserve
- Company shares were up 6.02 per cent to trade at 44 cents
Technology Metals (TMT) has confirmed broad, high-grade massive magnetite mineralisation at its Yarrabubba Iron-Vanadium Project in Western Australia.
The Yarrabubba Project is a ‘satellite project’ of the company’s Gabanintha Project and represents an opportunity to produce a premium iron-vanadium concentrate with grades of above 63 per cent iron and over 1.6 per cent vanadium pentoxide.
Yarrabubba hosts an indicated and inferred mineral resource of 27.7 million tonnes at 38.7 per cent iron and 0.9 per cent vanadium pentoxide. It also has a maiden probable ore reserve estimate of 9.4 million tonnes at 45.3 per cent iron and 0.97 per cent vanadium pentoxide.
TMT drilled 14 reverse circulation holes and 23 diamond holes to infill and extend the mineral resource estimate (MRE) as well as expand the measured and indicated components.
The company will use the improved MRE to upgrade the project’s ore reserve estimate.
Drilling in the southeast of the resource area returned results including 24 metres at 50.2 per cent iron, 1.13 per cent vanadium pentoxide and 12.8 per cent titanium dioxide from 176 metres and 26.5 metres at 46.6 per cent iron, 1.06 vanadium pentoxide and 12.1 per cent titanium dioxide from 21.5 metres.
Additional high-grade results include 67 metres at 36.6 per cent iron, 0.81 per cent vanadium pentoxide and 9.4 per cent titanium dioxide from 69 metres including 15 metres at 49.6 per cent iron, 1.16 per cent vanadium pentoxide and 13 per cent titanium dioxide from 114 metres.
Managing Director, Ian Prentice, was pleased with the drilling results.
“The drilling at Yarrabubba has highlighted the wide consistent nature of the orebody. We are confident that the drilling will result in an increase in the mineral resource estimate and ore reserve.”
Company shares were up 6.02 per cent to trade at 44 cents at 10:58 am AEST.
