The company reported the resource at 9.4% titanium oxide, 0.25% vanadium pentoxide and 21% iron, using a 4% titanium oxide cut-off. The estimate contains 4.3Mt of titanium oxide, 0.1Mt of vanadium pentoxide and 9.6Mt of iron in situ, according to the announcement.
Metals Australia said Stage 1 metallurgical work extracted 82.5% of contained iron and 91.5% of contained titanium oxide from test material through leaching. Stage 2 work produced titanium oxide at 99.1% purity and iron oxide at 97.9% purity through selective precipitation.
The company identified an exploration target of 67Mt to 89Mt in mapped extensions of the Discovery Zone. It cautioned that the target is conceptual, with insufficient exploration completed to estimate a Mineral Resource and no certainty that further work will do so.
Metals Australia said it may undertake an initial options study, assess further metallurgical test work and repeat assays, with resource drilling potentially to follow program results.
Source: Download MLS official ASX announcement, 2026-09-25.
Figure from Metals Australia’s ASX announcement dated 25 September 2026.