Technology Metals Australia reports 99.5% Pure Vanadium from Gabanintha and eyes for leveraging price appreciation scenario

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Technology Metals Australia Ltd

Achievement of high purity of 99.53% Vanadium confirms potential of Gabanintha deposit: Technology Metals Australia Ltd.’s (ASX: TMT) stock surged 6.67% on September 12, 2018 after the company achieved high purity of 99.53% V2O5 product from an ammonium metavanadate precipitate that extracted in excess of 98% vanadium from a leach solution. 

This has confirmed that the wholly owned Gabanintha deposit is capable of producing very high purity V2O5 by using conventional salt roast / water leach processing. The company has completed the initial production generation testwork, that involves the precipitation of ammonium metavanadate and then the generation of high purity V2O5 product from an approximately 60kg composite sample of high grade massive magnetite mineralization. The solution and final product produced from this testwork are considered to be extremely clean and low in solution impurities. Gabanintha has an Ore Reserve of 16.7 Mt at 0.96% V2O5, which is contained within an Indicated Mineral Resource of 21.6 Mt at 0.9% V2O5 in the Northern Block.  This ongoing drilling forms a part of the DFS that expects to expand the Indicated Mineral Resource within the current Global Mineral Resource estimate of 119.9 Mt at 0.8% V2O5 and 9.7% TiO2.

Samples of high purity vanadium have been sent to potential end-users for the purpose of evaluation with regards to use in various applications. These include steel and vanadium redox flow battery sectors as well. The company is also targeting the speciality chemical and aeronautical industries, which will provide scope to attract substantial premiums to the 98% V2O5 pricing index. Meanwhile, TMT stock has risen 16.67% in three months as on September 11, 2018.

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