PERTH (miningweekly.com) – Vanadium developer Technology Metals Australia has acquired a strategic tenement adjacent to its proposed Gabanintha project, in Western Australia.
The acquired tenement, which is adjacent to the Northern Block tenements of the Gabanintha project, covers some 109.2 ha and is to the west of the proposed Main pit.
The company told shareholders that the acquisition provided a high degree of optionality with regard to the development of the project; providing more scope for a more centrally located processing plant, and additional areas for the location of waste or low-grade ore stockpiles and other associated infrastructure.
“This strategic tenement acquisition provides a high level of optionality and flexibility to the Gabanintha project, as we progress through the next stage on the pathway to developing this globally significant vanadium project,” said Technology Metals MD Ian Prentice.
A recent prefeasibility study found that the project could deliver some 13 000 t/y of vanadium pentoxide over a mine-life of 13 years, generating revenues of A$4.9-billion.
The project is expected to cost some A$380-million to develop.
Prentice said that planning for a definitive feasibility study is well under way, and the study will start in the current quarter.