| Announcement Date: | 2022-11-07 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Technology Metals Australia Ltd. |
| Project name: | MTMP |
| Location: | Australia |
| Commodities: | Iron,Vanadium,Alumina,Silica |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Advanced vanadium developer, Technology Metals Australia Limited (ASX: TMT) (Technology Metals, or the Company) is pleased to announce an updated Global Mineral Resource Estimate (MRE) for the Murchison Technology Metals Project (MTMP). Technology Metals is progressing the development of the MTMP in Western Australia to produce high purity vanadium pentoxide (V2O5) and a high value ilmenite by-product. The updated Global MRE of 153.7Mt at 0.8% V2O5, a 5% increase on the previous Global MRE, includes a maiden highest confidence Measured MRE for Yarrabubba of 5.9Mt at 1.0% V2O5 and 11.2% TiO2 within a Global Measured and Indicated component of 63.2Mt at 0.9% V2O5, a 26% increase on the previous MRE. The Global Measured MRE of 12.1Mt at 1.0% V2O5 is expected to support significant growth in the higher confidence Proven Ore Reserve component for the MTMP. Yarrabubba is expected to be the initial ore source for the MTMP, delivering higher vanadium in concentrate grades (1.61% V2O5), excellent recoveries and the highly sought-after ilmenite by-product from Yarrabubba, providing significant benefits for the economics of the Project and materially |
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