Mount Peake drill results

TNG Limited reports Davis Tube Recovery (DTR) and metallurgical results.

Australian resources company TNG Limited has reported Davis Tube Recovery (DTR) and metallurgical results from the recently completed Reverse Circulation (RC) drilling program carried out at the Company’s 100%-owned Mount Peake Project.

The project is located 80 km north east of Alice Springs in the Northern Territory.

The vanadium grades encountered as part of the DTR are said to be particularly encouraging, with values in excess of 1% vanadium pentoxide (V2O5) and an average of 52% Fe.

The DTR test work assesses the magnetic separation, recovery and concentrate grades. This initial test work was carried out on the -75 micron fraction and optimisation of the recoveries and grades is expected with further test work on other fractions.

A metallurgical test work programme is currently in progress to assess the extraction of vanadium. This test work has commenced on two of the holes (MPRC002 and MPRC004) drilled as part of the recently completed RC drilling program.

According to the company, the preliminary results are highly encouraging and show that the ore’s behaviour is conventional and capable of optimisation.

The confirmation that a vanadium concentrate can be produced by standard metallurgical processes has underpinned the Company’s decision to progress the test work, which will be fully reported on completion.

According to the company, the mineralisation over large intersections of up to 165 m indicates potential for a substantial resource.

Based on these results the company has appointed Snowden Mining consultants to commence an initial resource estimate based on the drilling and geophysics completed to date.

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