TNG releases drilling results

TNG has reported initial results from its Mount Peake Project in the Northern Territory.

Diversified minerals company TNG Limited has reported initial results from the recently completed Reverse Circulation (RC) drilling program at its 100%-owned Mount Peake Project in the Northern Territory.

Final XRF analytical results have been received which confirm the continuation of the high-grade vanadium, titanium and iron mineralization.

Davis Tube Recovery (DTR) testwork is underway to assess the magnetic separation, recovery and concentrate grades.

The homogenous nature of the mineralisation indicates that the previous average DTR grades of 56% Fe, 1.2% V2O5, and 17% TiO2 should be maintained and possibly exceeded, according to the company.

A metallurgical testwork programme has also commenced to ascertain the extraction of vanadium.

Commenting on the results, TNG Exploration Director Paul Burton said, “These are encouraging results, confirming the presence of broad widths of high-grade vanadium and titanium mineralisation within the previously identified extensive layer of magnetite within a large gabbro intrusion.”

“The homogoneous nature of the mineralisation is significant, particularly considering that the overall North-South strike length of magnetite mineralisation intersected to date has been determined to be at least 1,300 m and remains open in most directions,” Burton said.

“Once we have received the results of the DTR test work, we will review the next stage of this exciting project — including the possibility of commissioning an independent resource consultant to complete a resource estimate,” he said.

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