Perth-based explorer Neometals has released an update regarding its Barrambie project in Western Australia, one of the world’s highest-grade hard rock titanium projects.
Titanium and vanadium prices have increased significantly of late, and are particularly useful for aircraft metals and batteries.
The company said in a report released via the ASX today that multiple development options are currently under evaluation.
In fourth quarter 2017, it prepared bulk samples for testing at its pilot plant facility in Montreal, Canada, producing 2.7 tonnes (t) of magnetic concentrate with an average of 36.1 per cent titanium oxide and 0.73 per cent vanadium oxide.
Neometals has also received regulatory approvals for the mining of 50,000t of bulk samples from the eastern band of the Barrambie deposit.
A Chinese titanium processor is currently completing testing on a sample of direct shipping ore.
Neometals managing director Chris Reed was confident of the company’s options. Last September, the company filed a patent for a lithium titanate oxide battery material processing.
“With the titanium and vanadium prices at near five-year highs and the recent additions to the executive team we are accelerating technical and comemrcial activities for Barrambie,” he said.
“With the natural advantages of the Barrambie resource we are confident of finding the best development option.”