Major Metallurgical Testwork Program to Commence on Cambridge Vanadium Samples

TORONTO, ON / ACCESSWIRE / February 20, 2024 / Velox Energy Materials Inc. (TSXV:VLX) ("Velox" or "the Company") is pleased to announce the commencement of a major metallurgical testwork program on vanadium samples from the Cambridge Vanadium deposit in Queensland.

Highlights

• Appointment of leading process engineers, BHM Process Consultants, to oversee the metallurgical program across the Cambridge deposit.
• Representative core samples from the recent diamond drilling program selected to assess different mineralogical zones within the prospective Toolebuc Formation.
• Samples have been submitted to Brisbane Met Labs (BML), an expert in the assessment of North Queensland vanadium deposits.
• BML has multiple years in the analysis of Vanadium ores from Northern Queensland, which also includes being awarded an Industry Innovation grant for the establishment of a -vanadium pilot plant to process ore into vanadium pentoxide for the VRFB industry.
• Results from the metallurgical testwork program are expected in mid-2024.

Metallurgical Testwork Program

Perth-based BHM Process Consultants (BHM) have been appointed to oversee the metallurgical testwork program for the Cambridge Vanadium Project in North Queensland, Australia. BHM has excellent experience in processing from metallurgical testwork through to flowsheet design and plant commissioning.

A total of 12 composite samples were created from the recent diamond drilling program, from 4 drillholes that represent the bulk of the defined Cambridge deposit. Each composite represents different mineralogical zones within the Toolebuc Formation that host the vanadium mineralisation.

The samples will be analysed by Brisbane Met Labs, (BML), an expert in the assessment of North Queensland Vanadium deposits. In 2021, BML was awarded an Industry Innovation grant by the Department of Industry, Science and Resources in Australia for the building and commissioning of a Vanadium Pilot Plant to allow processing of ore into Vanadium Pentoxide for the International Vanadium Redox Flow Battery market.

The results of the metallurgical testwork program are expected in mid-2024 and will be used to guide the next stages of development of the project.

Velox's President and CEO, Simon Coyle, commented:

"Velox has been selective in the engagement of metallurgical consultants as well as the laboratory being utilized, to ensure we have the appropriate knowledge base to perform our maiden met testwork. BML have significant expertise in the assessment of North Queensland vanadium ores, which provides us with the confidence we have the best in class to conduct the analysis of our Cambridge Mineral Resource. Velox's goal is to have a process flow for our ores that creates world class recoveries, coupled with a low operating cost base.