Technology Metals Australia Ltd increases mine life by 25 years at Murchison Technology Metals Project

Technology Metals Australia Ltd (ASX:TMT) has given a significant boost to the Murchison Technology Metals Project (MTMP) resource with the addition of a first ilmenite ore reserve estimate and the extension of the mine life to 25 years in the project, located 50 kilometers to the south. of Meekatharra in Western Australia.

The company began the integration study on the project in late 2021 to combine the high-grade, high-quality Yarrabubba deposit with the Gabanintha Vanadium deposit to form the Murchison Technology Metals Project (MTMP).

The integration study updated the Yarrabubba ore reserve estimate of 15.88 million tonnes to 0.87% vanadium pentoxide and 10.03% titanium dioxide, an increase of 69% over the previous estimate. previous ore reserve estimate, providing a global MTMP ore reserve estimate of 44.48m tonnes at 0.89% vanadium oxide.

The expanded Yarrabubba ore reserve estimate extends the potential mine life of the MTMP to 25 years, with the dual revenue streams of vanadium pentoxide and ilmenite further reducing the risk of MTMP development.

“Significant source of income”

TMT Managing Director Ian Prentice said: “The updated Yarrabubba ore reserve has provided a significant boost to the MTMP with the addition of the original ilmenite ore reserve estimate and the extension of the mine life to 25 years.

“Ilmenite production is expected to generate a significant revenue stream for the MTMP, particularly in the first ten years, further reducing the risk of project development.

“The economic assessment completed as part of the ore reserve upgrade indicates that the integrated MTMP meets the investment criteria for TMT to actively proceed with the implementation phase of the project.

“Activities now moving forward, including the commercial bidding process to upgrade project economics, are expected to optimize the MTMP and lead to a development decision, expected by the end of 2022.”

integration study

Yarrabubba’s higher grade of vanadium in concentrates, excellent recoveries and revenue potential from highly sought after ilmenite by-products were expected to significantly improve economic metrics in the early years of the project, reducing development risk in the MTMP.

The integration study evaluated the metallurgical properties of the Yarrabubba ore with respect to its suitability for processing through the Gabanintha process flow sheet, the necessary modifications, and the addition of a simple gravity loop needed to recover the ilmenite from the non-magnetic process tailings stream.

This work confirmed that the Yarrabubba ore is highly suitable for processing through the original Gabanintha vanadium flow sheet, with the addition of an ilmenite recovery circuit.

advance plan

DCF analysis conducted by Orelogy shows that the integrated MTMP meets the investment criteria for TMT to proceed with the next stages of project development.

With the MTMP process flow sheet and this updated ore reserve estimate now locked in, the Yarrabubba ore is confirmed to be highly suitable for processing via the original Gabanintha vanadium flow sheet.

Subsequently, TMT has moved to competitive public bidding to update the economic parameters of MTMP and support the development of the financial model with a development decision expected by the end of 2022.

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