POSITIVE IRON ORE AND VANADIUM RESULTS UNDERPIN UPCOMING DRILLING PROGRAM AT SNETTISHAM

N27 IC ASX SNETT ANNOUNCE WEB

 

Executive Summary:

  • Metallurgical test work from the Snettisham Project (Alaska) demonstrates the potential to produce a high- grade magnetite product with vanadium credits

  • A 63% Fe and 0.64% V2O5 concentrate (DTR) produced from surface samples

  • Significantly the recoveries were achieved using a very coarse grind size of 250 microns

  • The upcoming diamond drilling program, commencing in the second week of August, will test the grade and continuity of high-grade mineralisation and supply samples for further metallurgical test work

Snettisham Iron Ore - Vanadium Potential

On 4 June 2019, N27 released a geophysical exploration target for the Snettisham Project as part of an assessment of the value of the magnetite iron ore to contribute to the economics of the project in addition to vanadium. The results from metallurgical testing confirm the potential for Snettisham to produce a high-quality magnetite concentrate with significant vanadium credits at a very coarse grind size.

The Snettisham Project contains several critical infrastructure requirements for processing a vanadium-rich magnetite concentrate and exporting it to market. These include:

  • Close proximity to cheap electricity to undertake magnetic separation and operation of grinding facilities, a high voltage transmission line and several existing and proposed hydropower projects nearby.

  • Access to bulk material handling and transport facilities to move the concentrate to steel markets in either the USA or China, deep water channel adjacent to the project.

  • Access to an experienced mining workforce to support year-round operations.

 

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