Yarrabubba High Grade Iron Ore Project Update

    Published on May 4th, 2021

    SIMPLIFIED PROCESS FLOWSHEET DEFINED

    HIGHLIGHTS

    • A simplified process flowsheet has been defined to deliver high purity iron ore (magnetite) at a 75 to 90 micron grind size at a rate of ~1.5 Mtpa (see page 3).
    • Unique properties of Yarrabubba ore to facilitate low risk processing and deliver premium product; with a simplified flowsheet expected to provide capex and opex benefits.
    • High grade product expected to deliver premium pricing in period of expanding demand for higher grade / quality (greater than 62% Fe) iron ore.
    • Large scale testwork confirmed high grade, high purity iron ore (magnetite) product, delivering average 63.4% Fe and 1.6% V2O5 at 125 micron grind size for fresh massive.
    • Resource weighted average grade of 62.8% Fe and 1.66% V2O5 at 75-micron grind with mass recovery of 49.6% and very low deleterious element levels from sighter testwork.
    • Yarrabubba Flyover / 3D Animation video available on TMT website.

    Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to provide an update on the development progress on the Yarrabubba Iron-Vanadium Project (“Yarrabubba Project”) and the expectation of delivering a high grade, high purity iron ore (magnetite) product at an intermediate grind size (75 to 90 micron) utilising a simple indicative crushing, milling and beneficiation (“CMB”) flowsheet.

    Release of Yarrabubba Flyover / 3D Animation The Company is pleased to inform shareholders and stakeholders that a Yarrabubba Project Flyover / 3D Animation video can be viewed on the Company’s website at https://www.tmtlimited.com.au/yarrabubba-flythrough. The video provides an indication of the layout, logistics and technical advantages of the Project.

    Managing Director Ian Prentice commented: “Defining a simple CMB flowsheet for Yarrabubba, expected to deliver capital and operating cost benefits whilst delivering a premium iron ore product, is an important milestone for the Project development and highlights the key parameters of the Yarrabubba orebody that differentiate this development from the majority of magnetite iron ore developments”.

    The Yarrabubba Iron-Vanadium Project, located on granted Mining Lease M51/884 about 14km south east of the Gabanintha Vanadium Project, hosts an Indicated and Inferred Mineral Resource estimate (“MRE”) of 27.7Mt at 38.7% Fe and 0.9% V2O5 including a high grade massive mineralisation zone of 14.4Mt at 48.1% Fe and 1.1% V2O5 (ASX Announcement 1 July 2020). The Indicated Mineral Resource component of 9.6Mt at 45.3% Fe and 1.0% V2O5 consists of only fresh mineralisation which commences from only 10 to 15m below surface.

    CSA Global prepared a Maiden Probable Ore Reserve estimate for M51/884 of 9.4Mt at 45.3% Fe and 0.97% V2O5, consisting of only fresh mineralisation and a large proportion of the high grade massive magnetite unit (ASX Announcement 16 September 2020).

    Initial sighter metallurgical testwork designed to assess iron grades and recoveries to a magnetic concentrate, consisting of Low Intensity Magnetic Separation (“LIMS”) on seven (7) representative composite samples, delivered outstanding high grade, high purity iron (+vanadium) concentrate results across all of the mineralised units at Yarrabubba. A weighted average grade of 62.8% Fe, 1.66% V2O5, 7.83% TiO2, 0.62% SiO2 and 0.96% Al2O3 with an overall mass recovery of 49.6% was recorded at a 75 micron grind size (ASX Announcement 11 November 2020).

    Read full Announcement

    SOURCE: Technology Metals Ltd
    DATE: May 4, 2021

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