Australian Vanadium completes initial phase of optimised study

Exploration and development company Australian Vanadium (AVL) has completed the first phase of an optimised feasibility study for its Western Australian project, confirming the preferred development pathway for an integrated project. The company merged with Technology Metals Australia (TMT) in February, amalgamating their adjacent mining projects across one orebody at Gabinintha. This provided opportunities to realise synergies from creating a consolidated project. Phase 1 of the optimised study has delivered an updated mineral resource estimate, with a 39% increase in measured and indicated categories for the high-vanadium grade domain and increased iron-concentrate grades. The study also identified an optimal location along strike to start mining. AVL has identified the southern blocks of the project, with higher vanadium and iron concentrate grades and favourable weathering attributes for economic mining, as the preferred location for initial mining. The company has also completed a key trade-off study that has determined Tenidewa, near Geraldton, as the preferred location for a downstream processing plant. Prior to the merger, AVL had proposed to locate its downstream processing plant at Tenindewa, while TMT had proposed to locate its plant adjacent to the mine site at Gabanintha. “By focusing on the most promising sections of the orebody and conducting a comprehensive analysis to select the optimal location for the downstream processing plant, we have now finalised the key foundations from which the remaining optimised feasibility study activities can fully define a ‘strongerfor longer’ version of the project which has been unlocked through the recent merger,” commented CEO Graham Arvidson. In parallel to ongoing feasibility study works, AVL will assess opportunities to use federal grant funding of up to A$49-million to provides options for activities such as detailed engineering and accelerating of project schedule by proceeding with long-lead equipment orders. “Timely delivery of the project is a key objective for the company in anticipation of growing demand for vanadium flow batteries, which will cornerstone the essential long duration energy requirements of the net zero carbon energy transition. We expect product from the Project will largely report to the electrolyte market, primarily in Australia through AVL subsidiary VSUN Energy,” said Arvidson.