Metals Australia Reports Maiden 45.7 Million Tonne Resource at Western Australia Project, Shares Up 6%
MT Newswires Live
Sep 25
Metals Australia (ASX:MLS) reported a maiden inferred mineral resource estimate of 45.7 million tonnes grading 9.4% titanium oxide, 0.25% vanadium oxide and 21% iron at a 4% titanium oxide cut-off for its Manindi West vanadium-titanium-magnetite project in Western Australia, according to a Friday Australian bourse filing.
The company said the estimate establishes a "substantial" resource base within the Discovery Zone, while metallurgical test work has successfully shown the production of both high-purity titanium oxide and iron oxide products from the ilmenite-rich component of the vanadium-titanium-magnetite mineralization.
The company's shares rose 6% in recent Friday trade.
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