Mining company Australian Vanadium (ASX:AVL) said it has received encouraging test results from initial testing of vanadium, iron and titanium on its Gabanintha project near Meekathara in Western Australia.
The testing is a collaboration with Neomet and Sedgeman using a low-cost polymetallic process at a Neomet laboratory facility in Canada.
High grade oxide samples showed high percentages of vanadium and iron with a lower percentage of titanium.
Managing Director Vincent Algar commented that the positive results from the initial leach work by Neomet serves to further support the high quality nature of the high quality material at Gabanintha.
The company is currently undertaking testing for a feasibility study for the project, which is due to be complete by the end of this month.
Shares in Australian Vanadium (ASX:AVL) last traded 16.7 per cent higher yesterday at $0.03.