HIGHLIGHTS
Program of LIMS testwork completed on seven representative composite samples from Yarrabubba.
Weighted average 64.3%1 Fe in magnetic concentrate produced at a very high mass recovery of 47.6%.
Low levels of deleterious elements confirm opportunity to produce a premium Platts 65 product.
Contained vanadium grade averages 1.71% V2O5.
Yarrabubba development studies initiated.
Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to announce the full set of representative magnetic concentrate testwork results from the Yarrabubba IronVanadium Project (“Yarrabubba Project”).
The full program of magnetic separation testwork (LIMS) has confirmed the opportunity to produce a high grade, high purity iron-vanadium concentrate (“Yarrabubba High Grade Iron-Vanadium Product”) across all of the mineralised units at Yarrabubba, with a weighted average grade of 64.3% Fe and 1.71% V2O5.
The Company is advancing discussions with Sinosteel Australia Pty Ltd (“Sinosteel”) under the previously announced non-binding Letter of Intent with offtake and EPC conversations progressing as testwork data confirming scope to meet the premium Platts 65 product specifications becomes available and the Yarrabubba Project development opportunity crystallises.
Sinosteel Australia Managing Director David Sun commented: “Sinosteel Australia is very pleased to have established this relationship with Technology Metals Australia and aim to progress our offtake and EPC contract discussions on the premium quality Yarrabubba Iron-Vanadium Product based on the principles of mutual benefit and respect. We are looking forward to the achievement of the next Project milestones and enhancing the Project development through the expertise of our affiliate Sinosteel Equipment & Engineering Co., Ltd (“MECC”).”
Managing Director Ian Prentice commented: “The emergence of this opportunity to produce a high grade, high purity Fe-V magnetic concentrate, the Yarrabubba High Grade Iron-Vanadium Product, is a major breakthrough for the Company, potentially delivering a low entry cost project that is complimentary to, and expected to reduce funding and implementation risk of, the GVP. This premium product is expected to be well received by the steel industry, underlined by the support of a global industry leader in Sinosteel Australia.”

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