Australian Vanadium (ASX:AVL) confirms Murchison metals rising trend

Australian Vanadium metallurgy has confirmed a rising trend of vanadium and iron concentrate grades moving towards an area south of its recently consolidated Australian Vanadium Project in the Murchison province of Western Australia.

Vanadium concentrates averaging up to 1.6 per cent vanadium oxide from the Block 70 area are consistent with results from Yarrabubba deposit at Block 80, suggesting a high-grade project can be optimised across a now unconstrained southern strike extent after AVL’s merger with Technology Metals Australia.

Results also showed a higher iron grade in concentrate averages exceeding 60%, with Australian Vanadium Chief Executive Officer Graham Arvidson saying upcoming work had the potential to deliver a material increase in shareholder value.

“This testwork bolsters our view that a long-life, high-grade integrated project at the southern areas of the combined project can be defined quickly based on historical work by removing the constraints from TMT’s previously landlocked Yarrabubba deposit, and adding to it similar mineralisation within the historical AVL deposit,” Arvidson said.

“The team will use this testwork within the broader integration studies, with the aim of improving the economics of the project via reduced capital and operating costs.”

The project’s combined orebody is split by regional scale faults into a series of blocks, and Australian Vanadium is now working to better understand the variation in fresh rock mineralogy along strike and further define the potential of Block 70.

Australian Vanadium believes the merger has delivered the opportunity to optimise mining and processing in the southern blocks to achieve both elevated vanadium and iron concentrate grades.

The company also see its shallower weathering as holding the potential for enabling the use of a simpler more cost-effective concentrator.

Testwork will determine the viability of ilmenite recovery from the project after the recent results backed the potential for a commercial scale titanium product.

A definitive feasibility study confirmed the Major Project Status-awarded asset as a potentially globally significant primary vanadium producer, meaning AVL could be the bearer of Australia’s only producing mine into an ascendent industry.

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