Technology Metals Australia Ltd (ASX:TMT) has commenced a definitive feasibility study (DFS) at its Gabanintha Vanadium Project in Western Australia.
The DFS commenced on 31 July 2018 and advances upon the recently completed successful pre-feasibility study (PFS) that highlighted a $850 million post-tax valuation.
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Furthermore, the stage I drilling program has also commenced which is designed to deliver geotechnical data, extend the JORC resource, and provide metallurgical test work samples.
The 6,600-metre program will consist of 2,700 metres of diamond drilling and 3,900 metres of reverse circulation (RC) drilling.
TMT’s managing director Ian Prentice said: “This is a very exciting time for the company as we transition from the outstanding PFS result into the DFS stage, aimed at rapidly progressing this globally significant vanadium project along the development pathway.”
High-quality team of consultants
The DFS is being managed and lead by Wave International, an independent resource development and engineering consultant.
Wave will be supported by METS Engineering, CSA Global and Integrate Sustainability.
The DFS is scheduled for completion in the June quarter or 2019.