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Highlights
- Surefire Resources has signed a Heads of Agreement with Australian Flow Batteries.
- The agreement aims at evaluating downstream processing pathways for concentrate from its Victory Bore Vanadium Project.
- The partnership will involve hydrometallurgical testing to assess vanadium recovery, along with potential recovery of titanium dioxide and iron co-products from the vanadiferous titanomagnetite (VTM) deposit.
- AFB will apply its proprietary processing technology designed to produce battery-grade vanadium pentoxide, titanium dioxide and iron oxide from VTM feedstock.
- Surefire’s Victory Bore Project hosts a JORC 2012 Mineral Resource of 465 million tonnes at 0.30% VO.
Surefire Resources NL (ASX:SRN) has reported progress at its Victory Bore Vanadium Project in Western Australia, entering into a Heads of Agreement (HOA) with Australian Flow Batteries Pty Ltd (AFB). Under the agreement, Surefire will supply a representative concentrate sample from its vanadiferous titanomagnetite (VTM) deposit to AFB for hydrometallurgical testing using the latter’s proprietary processing technology.
Testing Program to Evaluate Vanadium Recovery Potential
Under the HOA, AFB will conduct hydrometallurgical testing on concentrate samples from the Victory Bore deposit. The test work will examine vanadium recovery performance, while also assessing the potential recovery of titanium dioxide (TiO) and iron co-products.
The results are expected to provide technical data to support future downstream processing strategies and enhance value from its vanadium resource by potentially integrating into domestic critical minerals and energy storage markets.
This partnership represents an initial step towards evaluating the downstream processing performance of the company’s vanadium concentrate within an emerging Australian supply chain for vanadium flow battery (VFB) systems and vanadium electrolyte production.
AFB Developing Integrated Vanadium Flow Battery Ecosystem
AFB is developing a vertically integrated vanadium flow battery ecosystem, covering stages from mineral processing through to electrolyte production, battery manufacturing and deployment to build a complete value chain.
Proprietary Processing Technology Targets VTM Feedstock
AFB has licensed a globally patented hydrometallurgical process designed to extract battery-grade VO, TiO and iron oxide (FeO) from vanadiferous titanomagnetite feedstock.
The process uses a hydrochloric acid leach-based method and incorporates hydrochloric acid recycling technology. AFB is constructing a pilot plant at Kwinana, Western Australia, which is expected to demonstrate production pathways for high-purity titanium dioxide, vanadium pentoxide for electrolyte applications, and iron oxide suitable for potential green steel processing.
Next Steps for Victory Bore Development
Following execution of the HOA, Surefire will provide AFB with concentrate samples derived from previous metallurgical test work. The next phase will involve hydrometallurgical testing, with results to be incorporated into updating the project’s Prefeasibility Study.
The companies will also assess additional downstream processing and partnership opportunities as part of the project development pathway.
Large-Scale Victory Bore Vanadium Resource
The Project covers approximately 87.5 square kilometres across two exploration licences in Western Australia.
The project forms part of the broader Victory Bore–Unaly Hill system, which hosts a JORC 2012 Mineral Resource of 465 million tonnes at 0.30% VO using a 0.15% vanadium cut-off grade.
The project also includes an exploration target covering additional areas of the magnetite body, with potential mineralisation estimates ranging from 682 million tonnes to 1.19 billion tonnes at 0.2–0.43% VO. The company noted that the exploration target remains conceptual and requires further drilling and assay confirmation.
SRN shares were trading at AUD 0.024 per share at the time of writing on 9 July 2026.
