Speewah Metals Ltd (ASX:SPM) is pleased to provide the scoping level Revenue, Capital and Operating cost estimates to support development of the mixed chloride leach and solvent extraction process that generated +90% recoveries of Titanium (Ti), Vanadium (V) and Iron (Fe) as 3 separate high grade end products.
The Board of Directors believes that the Scoping study supports the potential for a significant and highly profitable future mining project.
BACKGROUND
In February 2012 Speewah Metals Limited released excellent hydrometallurgical recovery rates that confirmed the most viable development route for Speewah’s world-class titanium and vanadium deposit is to produce high quality Titanium and Vanadium products through a mixed chloride leaching and solvent extraction process. The process flow sheet will be optimised and product quality and recoveries confirmed by pilot plant testing in 2012. This testing will be used to support prefeasibility studies. Hematite and Ammonium Sulphate are also produced as credits from the recovery process.
The Company has conceptualized a production target that generates an estimated 75,000 tonnes per year of high grade Titanium dioxide (TiO2) that would represent approximately 50% of annual revenue. The project would also produce high grade Vanadium pentoxide (V2O5) (target production 12,400 tonne/year) that would represent an estimated 30% of annual revenue. The processing method also produces Hematite (Fe2O3) (target production 410,000 tonne/year) and Ammonium Sulphate ((NH4)2SO4) (target production 200,000 tonne/year) as valuable by-products that provide additional revenues.
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