- Surefire Resources NL (ASX:SRN) claims to have made a breakthrough in the vanadium extraction process directly from magnetite concentrate
- It comes from testwork at its flagship Victory Bore project in Western Australia.
- It achieved extraction for vanadium of 91 per cent after a 96-hour leach directly from magnetite concentrate
- An unexpected extraction of 88 per cent titanium was also obtained
- SRN shares last traded at 1.2 cents
Surefire Resources NL (ASX:SRN) claims to have made a breakthrough in the vanadium extraction process directly from magnetite concentrate at its flagship Victory Bore project in Western Australia.
In test work, the company achieved a 91 per cent extraction rate for vanadium after a 96-hour leach directly from magnetite concentrate. An unexpected extraction of 88 per cent titanium was also obtained.
And today, shares have rocketed, closing up more than 30 per cent.
Appointment of METS Engineering
In May 2023, Surefire appointed METS Engineering (METS) to assess the potential for recovering high-purity vanadium oxide in liquid form.
The liquid was then used to produce a clean, high-purity vanadium electrolyte for the emerging vanadium battery sector in Australasia.
After an extensive review of existing extraction processes, METS designed and established a direct leaching test work program.
Four separate hydro-chemical tests were performed on pre-treated magnetite concentrate (PTMC).
The process is an adaptation of several commercially scalable processes utilised in the mineral resource industry.
It involves leaching the PTMC under specific conditions, showcasing the company’s innovative approach to vanadium extraction.
SRN shares last traded at 1.2 cents.