Overview
| Stage | Permitting |
| Mine Type | Open Pit |
| Commodities |
|
| Mining Method |
|
| Processing |
|
| Mine Life | 37 years (as of Jan 1, 2019) |
ALL prices and outcomes are indicative only while the FEED process is progressing and is an interim study, not final. |
| Latest News | Clough secures Mount Peake contract with TNG October 7, 2021 |
Source:
p. 4
| Company | Interest | Ownership |
|
TNG Ltd.
|
100 %
|
Direct
|
Summary:
The Mount Peake deposit is located within outliers of sediments of the Neoproterozoic Georgina Basin, which unconformably overlies units of the Aileron Province, a subdivision of the Palaeoproterozoic Arunta Group.
The mineralisation is hosted within a flat-lying magnetite-bearing gabbro-norite sill, believed to be of Neoproterozoic to Cambrian age that has intruded the older units - drilling has indicated large thicknesses of mineralisation (up to 170m), and exhibits good lateral continuity between drillholes.
The gabbro hosting the mineralisation is part of a 20km long x 10km wide NW trending sill or sill complex, with the mineralisation in the uppermost parts of the sill - the identified JORC- resources are confined to one part of the complex, with other areas yet to be defined, and which provide upside potential.
Summary:
The mining method will be an open pit with conventional drill and blast and load and haul with excavators and large mining equipment. Ore and waste will be trucked to the concentrator and waste dump respectively.
The open pit strip ratio is 1.1:1 (waste: ore). The large size of the orebody (ca. 2000m x 350m x 100m) and gradual grade boundaries allows a low 2% dilution factor to be applied, with ore loss being correspondingly low.
Flow Sheet:
Flow Sheet:
Summary:
Mine Site Beneficiation Plant
The Mount Peake mine site will involve mining of the titanomagnetite ore and recovery of the magnetite in a concentrate through a beneficiation process.
Metallurgical testwork at Nagrom Laboratories (Perth) was co-ordinated by Como with a focus on refining recoveries to match the revised TIVAN® Process Facility feedstock specifications provided by SMS.
TIVAN® Processing Facility
The planned Darwin based TIVAN® Processing Facility will process the magnetite concentrate into three commercial products through well understood pyro and hydro-metallurgical plants.
TNG, together with its consultants, has implemented various improvements on the TIVAN® Processing Facility flowsheet, focusing on improved recoveries and maximising utilisation of proven technology modules.
After extensive refinement, the TIVAN® Process now utilises a proprietary method of vanadium extraction, which avoids the utilisation of l ........
Recoveries & Grades:
| Commodity | Parameter | Avg. LOM |
|
V2O5
|
Head Grade, %
| 0.4 |
|
Titanium dioxide
|
Head Grade, %
| 7.36 |
|
Titanium dioxide
|
Concentrate Grade, %
| 92 |
|
Iron (magnetite)
|
Head Grade, %
| 27.9 |
|
Iron (magnetite)
|
Concentrate Grade, %
| 64 |
Projected Production:
| Commodity | Product | Units | Avg. Annual | LOM |
|
V2O5
|
Flake
|
kt
| 6 | 231 |
|
Titanium dioxide
|
Concentrate
|
kt
| ...... | ...... |
|
Iron (magnetite)
|
Metal in concentrate
|
Mt
| ...... | ...... |
|
Iron (magnetite)
|
Concentrate
|
kt
| | ...... |
Operational Metrics:
| Metrics | |
|
Stripping / waste ratio
| 1.1 * |
|
Ore tonnes mined, LOM
| 69 Mt * |
|
Tonnes processed, LOM
| 69 Mt * |
|
Annual ore mining rate
| 2 Mt * |
* According to 2019 study.
Reserves at August 11, 2019:
| Category | Tonnage | Commodity | Grade |
|
Probable
|
41.1 Mt
|
V2O5
|
0.42 %
|
|
Probable
|
41.1 Mt
|
Titanium dioxide
|
7.99 %
|
|
Probable
|
41.1 Mt
|
Iron (magnetite)
|
28 %
|
|
Measured
|
120 Mt
|
V2O5
|
0.29 %
|
|
Measured
|
120 Mt
|
Titanium dioxide
|
5.5 %
|
|
Measured
|
120 Mt
|
Iron (magnetite)
|
24 %
|
|
Indicated
|
20 Mt
|
V2O5
|
0.28 %
|
|
Indicated
|
20 Mt
|
Titanium dioxide
|
5.3 %
|
|
Indicated
|
20 Mt
|
Iron (magnetite)
|
22 %
|
|
Inferred
|
22 Mt
|
V2O5
|
0.22 %
|
|
Inferred
|
22 Mt
|
Titanium dioxide
|
4.4 %
|
|
Inferred
|
22 Mt
|
Iron (magnetite)
|
19 %
|
|
Total Resource
|
160 Mt
|
V2O5
|
0.28 %
|
|
Total Resource
|
160 Mt
|
Titanium dioxide
|
5.3 %
|
|
Total Resource
|
160 Mt
|
Iron (magnetite)
|
23 %
|
Commodity Production Costs:
| | Commodity | Units | Average |
|
Assumed price
|
V2O5
|
USD
|
...... *
|
|
Assumed price
|
Titanium dioxide
|
USD
|
...... *
|
|
Assumed price
|
Iron (magnetite)
|
USD
|
...... *
|
* According to 2019 study / presentation.
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Operating Costs:
| | Units | 2019 |
|
Total operating costs ($/t milled)
|
AUD
| 210 * |
* According to 2019 study.
2019 Study Costs and Valuation Metrics :
| Metrics | Units | LOM Total |
|
Pre-Production capital costs
|
$M AUD
|
......
|
|
Pre-tax Cash Flow (LOM)
|
$M AUD
|
......
|
|
Pre-tax NPV @ 8%
|
$M AUD
|
......
|
|
Pre-tax IRR, %
|
|
......
|
|
Pre-tax payback period, years
|
|
......
|
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Corporate Filings & Presentations:
| Document | Year |
|
...................................
|
2020
|
|
...................................
|
2019
|
|
Other
|
2017
|
|
Press Release
|
2017
|
|
Other
|
2015
|
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News:
Aerial view:
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