+61 409 493 485 info@terraresources.com.au

Magnetics survey defines target zone – RC drilling to commence mid February

Magnetics survey defines target zone – RC drilling to commence mid February
  • Highly detailed airborne magnetic survey completed in early January 2017.
  • Magnetic data has enabled the detailed mapping of the strike extent of the magnetic vanadium mineralised gabbro.
  • Modelling of the data has provided a 3D depiction of the massive magnetite zone (host of the higher-grade vanadium mineralisation) at the base of the gabbro.
  • The 3D model has enabled the Company to efficiently target the zone that hosts the higher grade vanadium mineralisation.
  • Massive magnetite zone shown to dip at ~60° to the west at widths ranging from 20 to 50m and to a depth of in excess of 200m.
  • Reverse circulation drilling program of up to 3,000m to commence on or about 15 February 2017.

Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to announce that it has received Terra Resources Pty Ltd’s (“Terra Resources”) interpretation of the data from the highly detailed low level airborne geophysical survey (“Survey”) over the Gabanintha Vanadium Project (“Project”). The Survey has been extremely successful in mapping the strike extent of the mineralised gabbro and defining the orientation of the massive magnetite zone towards the base of the gabbro unit which typically hosts the higher grade vanadium mineralisation. The Survey, flown in early January 2017, was conducted on 25m line spacing and 25m flight height, with magnetics data acquired along line at a sample spacing of 3.5m (see Figure 1 for outlines of the survey areas).

The Project is located 40km south east of Meekatharra in Western Australia and consists of five granted tenements. The Project is on strike from, and covers the same geological sequence as, Australian Vanadium Limited’s (ASX: AVL) Gabanintha Vanadium project. Vanadium mineralisation is hosted by a north west – south east trending layered gabbro intrusive with a distinct magnetic signature. Historical drilling completed on Technology Metals’ tenements, consisting of eight RC holes drilled by Intermin Resources in 1998 (as per TMT ASX announcement 21 December 2016), intersected broad zones of high grade (+1.0% V2O5) mineralised gabbro.

Read the full announcement from TMT here