Australian Vanadium Limited (AVL) has announced the results of a pre-feasibility study (PFS) and the release of a Maiden Ore Reserve for its 100 per cent owned Gabanintha vanadium deposit in the Murchison Province of Western Australia.
Building upon the initial base case which was released to the public in late-September, the results of AVL’s PFS indicate that the deposit holds a well-defined resource base, robust economics and low-risk method of beneficiation and refining to produce a vanadium pentoxide flake product.
The project is based on a proposed open pit mine, a crushing, milling and beneficiation plant and refining plant for final conversion of high-quality vanadium pentoxide for use in steel, specialty alloys and energy storage markets.
The project holds a Maiden Ore Reserve of 18.24 million tonnes (Mt) at 1.04 per cent vanadium pentoxide (V2O5), which comprises a Proved Reserve of 9.82 Mt at 1.07 per cent V2O5 and a Probable Reserve of 8.42 Mt at 1.01 per cent V2O5.
Open pit mining and beneficiation operation at the project is also expected to produce approximately 900,000 tonnes per annum of 1.40 per cent V2O5 magnetite concentrate at an average yield of 60 per cent.
AVL said the results of the PFS highlight the company’s potential to become a new low-cost vanadium producer.
Image courtesy of Australian Vanadium Limited.
AVL Managing Director, Vincent Algar said by completing the PFS the company has taken a major step towards bringing the world-class project into production.
“Announcing a maiden ore reserve is a key milestone and further embeds the project’s low-risk mineral resource and strong economic potential,” he said.
“The PFS includes detail that allows us to understand and design a long-life, low-cost vanadium pentoxide and cobalt concentrate production facility. Given the cyclical nature of the vanadium markets, it’s essential that all technical aspects are well understood, and the capital and operating costs minimised,” Mr Algar explained.
“Gabanintha’s geology and geometallurgy is emerging as offering a unique opportunity for new vanadium production globally. We believe that the project will deliver a world-leading, life of mine mass recovery to concentrate of over 60 per cent. The unique thickness of the Gabanintha high-grade zone also adds to its potential.”
More information on the Gabanintha Vanadium Project can be found here.
