Medcalf Resource Hits 24.2Mt at 9.8% TiO2 with 35% Indicated Increase

Resource Upgrade Highlights

Audalia Limited has delivered a robust update to its Medcalf Titanium-Vanadium Project in Western Australia, reporting a 35% increase in the Indicated Mineral Resource category. The new estimate stands at 20.3 million tonnes grading 10.17% titanium dioxide (TiO2), 0.54% vanadium pentoxide (V2O5), and 51.51% iron oxide (Fe2O3), marking a substantial upgrade from the previous 2022 figure.

The total Mineral Resource Estimate (MRE) now totals 24.2 million tonnes at 9.80% TiO2, 0.52% V2O5, and 50.2% Fe2O3, reported at a 6% TiO2 cutoff grade. This update is underpinned by 71 recent reverse circulation drill holes totaling 2,564 meters, alongside refined geological interpretations and the conversion of a significant portion of Inferred resources to the higher-confidence Indicated category.

Geological and Technical Foundations

The Medcalf Project, situated approximately 100 kilometers southwest of Norseman and near the Lake Johnston nickel mine, comprises three main prospect areas, Vesuvius, Egmont, and Kilimanjaro. The updated resource reflects detailed geological modelling, including the delineation of mineralised zones within a layered mafic-ultramafic sill, and incorporates extensive sampling and assay data verified by independent consultants Cube Pty Ltd.

Drilling data shows strong geological continuity and grade consistency, with the majority of drilling oriented vertically to intersect mineralisation at near-right angles. The resource classification follows the JORC 2012 Code guidelines, with 84% of the resource now classified as Indicated, reflecting high confidence in both geological and grade continuity.

Pathway to Ore Reserves and Production

This updated MRE will serve as a critical input for forthcoming Ore Reserve estimations, a key milestone towards project development. The project assumes conventional open-pit mining methods with direct shipping ore (DSO) production targeting the refractory furnace liner market, producing lump and fines products through crushing and screening.

Preliminary metallurgical testwork from recent diamond drilling indicates an average of 84% of material reporting to the desired lump size fraction, supporting the economic viability of the proposed DSO product. Ongoing testwork will further refine processing parameters and feed into Reserve calculations.

Environmental and Regulatory Considerations

Audalia is actively addressing environmental factors, including the presence of critically endangered vegetation and troglofauna within the project footprint. Investigations are underway to assess potential impacts and secure necessary approvals, although some uncertainties remain. The company is engaging with relevant authorities to ensure compliance and sustainable project advancement.

Overall, the Medcalf resource update positions Audalia well for the next phase of project evaluation, balancing technical progress with environmental stewardship.