- Technology Metals (TMT) has grown the Mineral Resource Estimate (MRE) at Yarrabubba by 32 per cent to 36.6 million tonnes (Mt) at 0.8 per cent vanadium pentoxide
- The Indicated MRE at the Western Australian project also increased by 110 per cent to 20.2 Mt at 0.9 per cent vanadium pentoxide
- Yarrabubba forms part of TMT’s Murchison Technology Metals Project, which has increased its MRE by 27 per cent on the back of the upgrade
- The company says it’ll use Yarrabubba’s upgrade to the Murchinson’s Global MRE to further update the project’s ore reserve and mine life
- TMT shares are trading steady at 36 cents each
Technology Metals (TMT) has grown the Mineral Resource Estimate (MRE) at its Murchison Technology Metals Project via an increase at Yarrabubba.
The Murchinson project is located in Western Australia and contains the Yarrabubba Iron-Vanadium Project, while the company’s Gabanintha Vanadium Project is located nearby.
Following a series of drilling campaigns, Yarrabubba’s MRE has increased by 32 per cent to 36.6 million tonnes (Mt) at 0.8 per cent vanadium pentoxide.
The asset’s Indicated MRE also increased by 110 per cent to 20.2 Mt at 0.9 per cent vanadium pentoxide.
Following the increase at Yarrabubba, the Murchinson project’s Global Measured and Indicated MRE has jumped up 27 per cent to 50.2 Mt at 0.9 per cent vanadium pentoxide.
Murchinson’s Global MRE now sits at 146.2 Mt at 0.8 per cent vanadium pentoxide, including an increased high-grade component of 79.8 Mt at 1.1 per cent vanadium pentoxide.
TMT will now use the upgraded figures to update the wider Murchinson project’s Ore Reserve estimate and potential operating life.
Managing Director Ian Prentice said he was pleased with Yarrabubba’s results.
“The Yarrabubba Mineral Resource upgrade is very pleasing, delivering on our objectives with a significant increase to the overall mineral resource and importantly more than doubling the Indicated mineral resource component,” he said.
“This underlines the opportunity for Yarrabubba to materially extend the life of the proposed low cost MTMP as a large scale, world class vanadium development project, which is expected to be viewed favourably by prospective financiers and key stakeholders.”
Technology Metals is trading steady at 36 cents per share at 1:02 pm AEDT.