Mil Resources announced that preliminary quantitative mineralogical analysis at its Amazon Bay project in papua New Guinea, suggests a “best possible concentrate” of 54% Fe, 1.05% V205, 13% Ti02, 4.8% Si02 and 1.2% Al203. The basic design of the Amazon Bay project centres around the production of a high grade, vanadium-bearing, titano-magnetite concentrate at a production rate of 2.5 million tonnes per annum.
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