Metals Australia (ASX:MLS) Hits 129M Of High-Grade Titanium-Vanadium-Iron At Manindi

Metals Australia (MLS) has intersected a broad 129-metre zone of high-grade vanadium-titanium-magnetite at the Manindi West target in Western Australia.

The company completed three holes in a diamond drilling program to test three battery materials targets — the Manindi West, Foundation Pegmatite and Kultarr prospect areas.

The third hole, which tested the three-kilometre-long Manindi West mafic intrusive target, produced the most significant results, according to the company.

The hole returned a broad intersection of 129 metres at 0.23 vanadium oxide, 23.3 per cent iron and 11.5 per cent titanium oxide from 53 metres downhole.

This included a higher-grade zone of 25 metres at 0.47 per cent vanadium oxide, 40.8 per cent iron and 24 per cent titanium oxide.

Metals Australia said the titanium grades were the highest of any vanadium-titanium-magnetite discovery in WA. This reportedly suggests the titanium can be separated as titanium ore, which would in turn upgrade the vanadium content in the remaining magnetite concentrate.

Metals Australia will now undertake mineralogical work to determine the titanium mineralogy before metallurgical testwork is carried out.

The second drill hole tested extensions to the southeast of a previous high-grade zinc-copper intersection. While the hole intersected a broad sulphide zone of 29 metres at 5.59 per cent sulphur, zinc grades were lower than the main resource area.

Meanwhile, the first hole tested depth extensions beneath the higher-grade section of the 500-metre-long Foundation Pegmatite.

While this hole returned lower-than-expected results, it intersected thick pegmatite intersections that extended the depth potential of the Foundation Pegmatite to over 120 metres below surface.

The company will conduct downhole electromagnetics (DHEM) at all three holes, as well as metallurgical testwork and further drilling.

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