TNG Provides Update On FEED Work For Mount Peake V-Ti-Iron Project

BEIJING (Asian Metal) 19 Aug 19 – Australian-based TNG Limited today provided an update on the ongoing Front-End Engineering and Design (“FEED”) work for the Mount Peake Vanadium-Titanium-Iron Project being coordinated by its strategic engineering and development partner, the German-based metallurgical engineering firm SMS group.

A revised mine schedule has been completed by Snowden Mining Industry Consultants as part of FEED optimization activities. The revised mine schedule has established that a focus on two higher grade vanadium pits within the Resource during the first 10 years of mining operations could result in a reduced ore mining and processing rate, and fewer tailings produced, while delivering the same targeted magnetite concentrate quality and volumes.

FEED work has confirmed TNG’s premium iron ore strategy for the Mount Peake Project. The Company is targeting production of a high grade iron oxide product grading over 64% Fe with low impurities, which is expected to command a premium to the 62% Fe benchmark price.

The Beneficiation Plant flowsheet has been finalized by Como Engineers as part of the FEED process, with the design being overseen by SMS group.

A short diamond drilling program is underway at Mount Peake to deliver samples for pre-development engineering and optimization work under the FEED study.