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Vanadium Metallurgical Test Work Update February 2018

Vanadium Metallurgical Test Work Update February 2018
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  • Latest round of metallurgical testwork completed, confirming the Company’s view that Gabanintha will be able to supply high quality V2O5 products to meet the needs of energy storage and steel making customers.
  • Further testwork already underway to optimise process flowsheet ahead of up-coming Pre-Feasibility Study.  Tests include assessing recovery of other metals including cobalt, nickel and copper.
  • Magnetic separation testwork successfully delivers high-yield into primary concentrates including:
    o Fresh high-grade material achieving exceptional concentrate recovery of 92.3% of vanadium in a 1.42% V2O5 concentrate with very low silica content, before optimization.
    o Transitional high-grade material achieving combined concentrate recovery of 89.2% of vanadium in a 1.40% V2O5 concentrate, before optimization, and
    o Transitional concentrate grades of up to 1.72% V2O5 (Comp 17) and 1.66% V2O5 (Comp 16) were achieved, indicating significant upside across the deposit.
  • First stage of detailed comminution test work reveals:
    o Consistent energy consumption of 6.9kWh/t established to break material in a AG/SAG milling scenario with a closing screen size of 2.8mm.
    o Density correlation strongly supports using average density of 3.6 applicable to oxide, transition and fresh high-grade materials, and
    o Abrasion index work indicates ore only “slightly abrasive” meaning modest wear on equipment.