Highlights for the Quarter
Scoping study released 23 April 2012 supported the potential for a significant and highly profitable future mining project that generated +90% recoveries of Titanium (Ti), Vanadium (V) and Iron (Fe) as 3 separate high grade end products.
The Company released a significant increase in Mineral Resources of the combined Speewah Titanium/ Vanadium deposit within the 100% owned Speewah Project.
The Speewah deposit represents 3 large Resources (Central, Buckman and Red Hill) on the Speewah tenements. This upgrade represents:
- 32% increase to the total combined Resource at Speewah;
- 34% increase to the Measured and Indicated Resources at Speewah.
The total combined Mineral Resource has been updated to include all three deposits at Central, Red Hill and Buckman. The combined Measured, Indicated and Inferred Resource total is 4.7 Billion tonnes at 0.30% V2O5 and 2% Ti (at 0.23% V2O5 cut-off grade).
The following Grants/rebates funding are due to be received in the coming weeks:
- 2011 Research & Development Rebate $745,000
- 2011/2012 Exploration Incentive Scheme (2nd Stage) $30,000.
For further information please download PDF below:
