TNG Limited (ASX:
TNG)
POSITIVE METALLURGICAL OPTIMISATION TESTWORK - MOUNT
PEAKE, NT
HIGHLIGHTS
Ongoing
Metallurgical test work has successfully improved the quality of the magnetic
concentrate.
- The vanadium grade was improved from a head grade
of 0.5% V2O5 to 1.3% V2O5 with
an average vanadium recovery of 86% in 40% of the mass.
- The iron grade in the magnetic concentrate was
upgraded from a head grade of 32% Fe up to a maximum of 66% Fe.
- The titanium grade also showed an upgrade from a
head grade of 9.4% TiO2 to 16% TiO2.
- Regrinding the magnetic concentrate to 45 micron
successfully reduced the SiO2 and Al203
contaminants to an acceptable level for conventional vanadium processing.
- Snowden Mining Industry Consultants are
commencing an initial scoping study.
Australian
resources company TNG Limited (ASX: TNG) is pleased to report further
encouraging results from metallurgical results from the recently completed
Reverse Circulation (RC) drilling program carried out at the Company?s
100%-owned Mount Peake Project in
the Northern Territory.
TNG
has previously reported a maiden JORC Inferred Resource of 107 Mt @ 0.32 % V2O5,
5.9 % TiO2, 29% Fe from its first round of Reverse Circulation
drilling. A significant portion of the magnetic anomaly remains untested and
when drilled is anticipated to increase this initial resource estimate.
Prior
to further drilling TNG commissioned Mineral Engineering Technical Services Pty
Ltd (?METS?) to design and manage the metallurgical testwork programme. METS
has in-depth experience with vanadium deposits, particularly with Australian
projects, and are well suited to evaluate the Mount Peake mineralisation.
Initial testwork reported previously, confirmed that a
high-grade vanadium pentoxide (V2O5) concentrate can be
produced from the Mount Peak mineralisation. Further test work aimed at
optimising the grade and recovery, has successfully improved on the initial
results by regrinding to 45 microns, as shown in Table 1 below.
This has also resulted in improving the grade and
recovery of the Fe and Ti02 and successfully reduced the Si02
and Al203 components to acceptable commercial levels.
Further testwork is underway to study the amenability
of the ore to alternative salt roasting and/or leach processes to further
improve the vanadium recovery. This
will be reported on completion.
TNG has commissioned METS to investigate the recovery
of the Iron and Titanium as additional marketable products and results of this
will be reported in due course.
Table 1: METS optimisation testwork results, Mount
Peake RC drill material.
Following
the positive results received from METS, TNG is pleased to advise that it has
instructed Snowden Mining Industry Consultants to commence an initial Scoping
Study on the Mount Peake Project. Although this will be undertaken based on the
current Inferred Resource and initial metallurgical testwork results, it is
considered an appropriate next step to progress the Project before committing
to further exploration expenditure.
Further
drilling at Mount Peake will commence in August as part of the previously
reported NT Government funded drilling grant, awarded to TNG to identify if the
Mount Peake intrusion is a large layered mafic system with massive sulphide
potential.
Following
completion of this programme, further drilling of extensions to the large
magnetic anomaly that currently defines the Mount Peake Iron ? Vanadium ? Titanium mineralization
will commence.
Yours
faithfully
TNG
LIMITED
Paul Burton
Exploration Director
June 22nd
2009
The information in this report that relates
to Exploration Results, Mineral Resources or Ore Reserves is based on
information compiled by Paul Burton who is a Member of The Australasian
Institute of Mining and Metallurgy and a Director of TNG Limited. Paul Burton
has sufficient experience relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the
?Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves?. Paul Burton consents to the inclusion in the report of the
matters based on his information in the form and context in which it appears.
Enquiries:
Paul E
Burton
Exploration Director + 61 (0) 8 9327 0918
Nicholas Read
Read Corporate +
61 (0) 419 929 046