Metals Australia Drills 13 of 14 Holes with Significant Magnetite-Ilmenite Mineralisation

Expanding the Manindi West VTM Discovery

Metals Australia Limited (ASX, MLS) has announced a significant milestone in its exploration efforts at the Manindi West Vanadium-Titanium-Magnetite (VTM) project, located in Western Australia's Murchison region. The company’s recent drilling program has extended the known mineralised strike length to over 1,000 metres, with 13 of 14 holes in the discovery zone intersecting substantial magnetite-ilmenite mineralisation. This success not only confirms the continuity of the mineralised zone but also highlights the potential scale of the deposit.

The drilling campaign comprised 15 reverse circulation holes totaling 2,774 metres, including a new hole at Target 2 on an eastern magnetic trend more than a kilometre from the original discovery. This hole intersected 61 metres of mineralisation, validating the hypothesis that multiple parallel targets exist within the project area, warranting further detailed exploration.

Geological and Metallurgical Insights

Geological logging supported by portable XRF analysis identified over 850 metres of significant mineralisation, with magnetite and ilmenite content ranging from 12% to 65%. The mineralised zones exhibit true widths between 75 and 95 metres and extend vertically to at least 210 metres below surface, with overburden cover varying from 16.5 to 52 metres. The mineralisation occurs as layered ultramafic units rich in magnetite and ilmenite, with associated sulphides such as pyrrhotite and pyrite.

Metallurgical test work has produced two promising concentrate products, a TiO2-bearing ilmenite concentrate and a V2O5-bearing magnetite concentrate. The company is actively working to improve the TiO2 grade in the ilmenite concentrate and exploring pathways to produce high-purity titanium dioxide (TiO2 ≥ 98.5%), which commands premium pricing in global markets. This strategic focus aligns with growing demand for titanium dioxide in pigments, coatings, and advanced battery technologies.

Strategic Positioning and Next Steps

Metals Australia’s CEO, Paul Ferguson, expressed cautious optimism about the project’s potential, noting the high success rate of the drilling program and the confirmation of additional targets. The Manindi West VTM discovery complements the company’s existing zinc-copper-silver resource in the region, enhancing its portfolio of critical minerals assets.

While assay results are pending and expected in early 2026, the company is preparing for further resource drilling and metallurgical studies to refine processing pathways and product quality. The broader Manindi Project, covering nearly 16 square kilometres, remains a focus for advancing critical minerals exploration in Western Australia.

Metals Australia also continues to progress its flagship Lac Carheil graphite project in Quebec, Canada, underscoring its diversified approach to critical minerals development across multiple jurisdictions.