Neometals Ltd has received highly encouraging results on Barrambie project

Received highly encouraging results on Barrambie project: Neometals Ltd (ASX: NMT) has received highly encouraging results from its initial Chinese metallurgical test work program on a 20kg diamond core sample of Barrambie project mineralistion which was taken from the high titanium grade eastern zone of the deposit. The clean mixed mineral concentrate was produced with combined Titanium, Vanadium and Iron levels of more than 92%. The metallurgical processing of mineral concentrate gave recoveries of more than 90% TiO2 and high recoveries for pig iron and vanadium product streams. Further, the results gave strong encouragement that a simple and conventional processing pathway can be developed to extract titanium, vanadium and iron products. The result also supports next stage of Pilot‐scale metallurgical test work. Moreover, an approximately 4 tonne representative bulk sample of the 40 tonne Barrambie DSO is currently on a ship to China, which will be put through extensive further testing. This test work is expected to be completed by year end. Along with this larger scale test work, NMT will continue to increase its marketing efforts in China to secure offtake partners for DSO. NMT has completed the mine planning activities for a DSO operation and is working with turn key mining solutions provider Adaman Resources to complete a comprehensive DSO operating cost model. The Barrambie project has a granted mining lease over the Resources and had previously got full environmental approval for a large primary vanadium mining and processing operation. Currently, NMT is completing updates to some of the previous environmental studies and expects to start seeking approvals for a DSO operation this quarter. Meanwhile, NMT stock has fallen 8.96% in three months as on July 10, 2018 but rose by about 3.3% on July 11, 2018.


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