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Technology Metals Australia Ltd.
Summary
| Project: | Gabanintha | |
|---|---|---|
| Deposit: | Southern | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 4/30/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-4-2020: Technology Metals Australia Ltd. announces an Exploration/Drilling Update report for its Southern deposit at the Gabanintha project. Drilling results incl. 22m @ 1.12% V2O5. Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or | |
| Resources: | (Reserve, P+P): 29.6Mt @ 0.88% V2O5 at project | |
| CP/QP: | [Overall Report]: John McDougall (Internal) | |
| ABSTRACT: | Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to announce the results from the diamond drilling component of the previously completed Southern Tenement resource drilling and Davis Tube Recovery (“DTR”) testwork undertaken on composite samples from RC drilling at the Southern Tenement. This work has confirmed the presence of broad zones of massive magnetite with high V2O5 grades along the strike of the Southern Tenement. The drilling also highlighted the typically very shallow weathering profile, which has very positive implications for yield into magnetic concentrate, vanadium recovery and operating costs. The DTR testwork has returned the GVP’s highest vanadium grades in magnetic concentrate with excellent vanadium recoveries and high mass yields into a high quality concentrate. TMT Managing Director Ian Prentice commented; “The data collected from the diamond drilling completed at the Southern Tenement, combined with the extremely positive metallurgical testwork, provides a high level of confidence in the outcome of the pending update to the Mineral Resource estimation. A material portion of this Mineral Resource estimate is expected to be upgraded to the Indicated category and this has the potential to deliver a substantial increase to the GVP operating life, initially targeting a mine life beyond 20 years, which is expected to be viewed favourably by prospective financiers”. | |
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