Technology Metals Australia Limited provided the results of the Integration Study (Study) for the Murchison Technology Metals Project (MTMP), located 50km south of Meekatharra in Western Australia. The Study has merged the high-grade Yarrabubba deposit into the MTMP mine plan. An updated Yarrabubba Ore Reserve Estimate of 15.88Mt @ 0.87% V2O5 and 10.03% TiO2, a 69% increase on the previous Ore Reserve estimate, has delivered a global MTMP Ore Reserve Estimate of 44.48Mt @ 0.89% V2O5.

The expanded Yarrabubba Ore Reserve estimate extends the potential MTMP mine life out to 25 years, with the dual revenue streams of vanadium pentoxide and ilmenite further de-risking the development of the MTMP. The MTMP production profile generated through the Study targets V2O5 production of approximately 12,500 tpa (27.5 Mlbs pa) over the mine life. Ilmenite production is linked to mining of Yarrabubba, with 1.13Mt of production over the mine life, the majority of which occurs within the first 9 years of the operation.

Average production for this initial 9-year period is approximately 96,500 tpa, with a peak of around 170,000 tpa. TZ Minerals International Pty Ltd. (TZMI) has previously assessed the ilmenite product and potential customers. TZMI has indicated that feedback from potential customers has been positive and based on the indicative product quality, the planned ilmenite product would achieve a price of approximately $250-270 per tonne FOB in the current spot market.