NiPlats Australia has moved out of a trading halt to announce a quadrupling of mineral resource at the Speewah vanadium deposit to a total resource of 3.2 billion tonnes at 0.30% V2O5, 2% Ti and 14.8% Fe.

The new mineral resource estimated by Runge increases the vanadium Resource by 400% and confirms Speewah as Australia's largest vanadium deposit.

The resource include the previously reported Central deposit and two additional deposits at Red Hill and Buckman. They individually extend over strike lengths of 5.5 to 8km and up to 2km wide.

The combined Resources at Speewah are significantly larger than any other deposit in Australia and there are several other areas within the Speewah Dome with magnetite bearing gabbro that have yet to be drill tested.

Pit optimisations and a reserve estimate on the Mineral Resource at Central are planned once all metallurgical studies are completed. The flat dipping deposit geometry and very high vanadium tenor, significantly enhance the opportunity for a commercially viable vanadium project.

Work currently underway includes metallurgical and feasibility studies for a potential open pit and downstream processing of the vanadium into vanadium pentoxide and ferro-vanadium.