THE DRILL SERGEANT: Technology Metals Australia (ASX: TMT) reported an updated Mineral Resource Estimate (MRE) for the Yarrabubba project, part of the company’s Murchison Technology Metals Project (MTMP) in Western Australia.
Technology Metals has increased the Yarrabubba MRE by 32 per cent to 36.6 million tonnes at 0.8 per cent vanadium.
The Indicated component of the MRE now stands at 20.2 million tonnes at 0.9 per cent vanadium at Yarrabubba, representing a 110 per cent increase on the previous maiden Indicated MRE.
The upgrade includes high-grade component of 19 million tonnes at 1.1 per cent vanadium, increasing the Murchison Technology Metals Project (MTMP) high-grade component to 79.8 million tonnes at 1.1 per cent vanadium.
The global Measured and Indicated Mineral Resource Estimate for the MTMP has increased by 27 per cent to 50.2 million tonnes at 0.9 per cent vanadium.
“The Yarrabubba Mineral Resource upgrade is very pleasing, delivering on our objectives with a significant increase to the overall mineral resource and importantly more than doubling the Indicated mineral resource component,” Technology Metals managing director Ian Prentice said in the company’s ASX announcement.
“This underlines the opportunity for Yarrabubba to materially extend the life of the proposed low-cost MTMP as a large scale, world class vanadium development project, which is expected to be viewed favourably by prospective project financiers and key stakeholders.”
Work is now underway to update the Yarrabubba Ore Reserve estimate that is to be integrated into an expanded Global Ore Reserve estimate for the MTMP.
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