Ironveld will mine its own VTM resource at approximately 2.4 million tons magnetite per annum as feedstock for the 15MW Smelter to produce 42,000 tons of High Purity Iron per annum, and Vanadium and Titanium products.
•Potential for vanadium and titanium by-products.
•28 kms of outcropping magnetite ore, 6.8 kms drilled to inferred resource.
• Pre-feasibility Study published June 2013
• Definitive Feasibility Study published April 2014
• Exploration was done by MSA, and drilling was conducted by Geoserve. Assay work was done at Setpoint Laboratories and metallurgical testwork was done at Mintek.
• Getting the various statutory permissions in place
• Applications sent through to the Department of Trade and Industry (DTI) for the 12I Tax Allowance (granted) and the Critical Infrastructure Programme (CIP) (awaiting approval)
It is intended that feasibility studies will be completed simultaneously with the exploration programmes in order to fast track project development.
Exploration will be outsourced to MSA, and drilling will be conducted by a suitable contractor. Assay work will be done at Setpoint Laboratories and metallurgical testwork will be outsourced to Mintek. In the course of 2012 the exploration will focus on the upgrading of the current Mineral Resource and the drilling to Inferred Mineral Resource of the balance of the properties. At the same time bulk samples will be taken from trenching and drill cores for metallurgical pilot scale testwork.
In the later part of 2012 and the first half of 2013 exploration will continue to upgrade the Mineral Resource over the most prospective part of the MML within the Ironveld Project area to a Measured Resource status.
The intention is to complete the Feasibility study in the course of 2013, with applications for mining licences to be made as and when required.