Technology Metals Australia Ltd Improves MTMP with 26% Increase in Measured and Indicated Resources

Technology Metals Australia Ltd (ASX:TMT) boosted global resources at the Murchison Technology Metals Project (MTMP) with a 26% increase in measured and indicated categories to 63.2 million tonnes at 0.9% vanadium pentoxide .

The MTMP now hosts a total resource of 153.7 million tonnes at 0.8% vanadium pentoxide, a 5% increase from the previous resource, according to the project’s updated World Mineral Resource (MRE) estimate. .

A 10-fold increase in the measured MRE of 12.1 million tonnes at 1.0% vanadium pentoxide is expected to support significant growth in the proven ore reserve component for MTMP.

Significantly, the updated resource includes a first measured MRE for the Yarrabubba deposit of 5.9 million tonnes at 1.0% vanadium pentoxide and 11.2% titanium dioxide.

Yarrabubba is expected to be the initial ore source for the MTMP, with higher vanadium concentrate grades of 1.61% vanadium pentoxide, excellent recoveries and a much sought-after ilmenite by-product.

The most recent MRE will underpin an updated estimate of proven and probable ore reserves to be included in the bankable financial model.

Yarrabubba Project Borehole Location Plan

Improved ore reserve position

TMT Managing Director Ian Prentice said: “We are very pleased with this outstanding result, with fieldwork completed in the first half of the year delivering a significant 26% increase in the significant measured and indicated resources for the MTMP, which bodes well for a significant upgrade to the proven and probable ore reserve estimate for the project.

“An improved ore stockpile position, including the elevation of some of the important shallow material at Yarrabubba, should provide significant benefits to the MTMP economy, which should be viewed very favorably by potential project financiers and main stakeholders.

“The implementation phase of the project is progressing well, albeit facing time constraints related to the broader resource challenges facing our industry, with our team clearly focused on delivering a result. positive for the rapid development of MTMP and the supply of high-purity Vanadium Pentoxide to play an important role in the global transition to net zero carbon emissions.

25 year mine life

TMT is developing the high-grade MTMP, 50 kilometers south of Meekatharra in Western Australia, into a stable, secure and long-term supplier of critical minerals.

The MTMP includes the Gabanintha and Yarrabubba deposits, from which the company is targeting annual production of approximately 12,500 tonnes of vanadium pentoxide over an initial life of 25 years.

TMT completed 31 diamond holes and 19 reverse circulation (RC) holes in the first half of this year to take bulk sample of Yarrabubba ore for metallurgical testing and customer sample generation, collection of additional data on the geotechnical parameters of the proposed open pit mine walls at Gabanintha and Yarrabubba, and resource fill at Gabanintha and Yarrabubba.

For the full announcement, click here.

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