Temas begins to extract vanadium from La Blache core

Executive Summary

• Temas Resources has commenced Regenerative Chloride Leach (RCL) testwork to extract vanadium from La Blache drill core material, with results expected in 45–60 days.
• The company is reprocessing 36,614 meters of historic drill core using a fusion-based assay method, which preliminary data suggests could increase critical metal content by 10–60% compared to historical four-acid digestion assays.
• Successful vanadium extraction is expected to allow the company to restate its scoping study, adding 30 million tons of measured and indicated TiO2 resource and including valuable by-products like gallium, scandium, and chromium.

Key Details

• RCL Vanadium Testwork:
  • Commenced using proprietary regenerative chloride leach (RCL) process on La Blache drill core.
  • Duration: 45 to 60 days.
  • Objectives: Demonstrate effective loading of vanadate species, regenerable elution of vanadium, and production of ammonium metavanadate (AMV) intermediate of acceptable purity.
  • Future testing planned for gallium, scandium, and chromium later in the year.
• Assay Methodology Changes:
  • Shift from three/four-acid digestion to fusion-based reassaying (ALS ME-MS81 protocol) for near-total dissolution of refractory minerals.
  • Preliminary surface sample comparisons show systematic increases in critical metal content ranging from 10% to 60%.
  • 748 sample pulps from the 2022 diamond drill campaign submitted for fusion reassay.
  • 36,614 meters of historic core being relogged, measured for specific gravity, and reassayed.
• Resource Impact:
  • Results will enable restatement of the La Blache scoping study.
  • Expected addition of 30 million tons of measured and indicated TiO2 resource.
  • Inclusion of pay metals: gallium, scandium, and chromium.
• Previous Pilot Success:
  • Prior pilot testing yielded 99.8% pure TiO2 and Fe2O3 (approx. 830 kg).
• Auditor Change:
  • HLB Mann Judd resigned as auditor.
  • De Visser Gray LLP reappointed as auditor effective immediately to comply with Canadian and Australian regulatory requirements.

Notable Quotes

• Tim Fernback, CEO: "The adoption of fusion-based reassaying has the potential to materially enhance our understanding of grade distribution at La Blache. By reprocessing up to 36,000 metres of historic core, we are accelerating our pathway toward feasibility without the time and cost of additional drilling."
• David Caldwell, COO: "Looking specifically at vanadium to start, Temas will use RCL to determine the quantity and quality of V2O5 extracted at La Blache. Furthermore, our overall strategy is to demonstrate that multiple critical metals can be recovered efficiently from La Blache using RCL."