The company said it had carried out a drilling program to give more confidence in the boundaries of the mineralisation and to understand the “significant” alumina at the Lindfield project.

It said the results included high-grade intercepts of vanadium as well as alumina which will be used to potentially make Lindfield a dual commodity project.

Vanadium is used in strengthening steel but also in grid-scale batteries and Queensland has a world-class vanadium resource near Julia Creek.

Managing director Scott Drelincourt said the company had been focused in working across various aspects of the Lindfield resource and the results from the drilling were better than expected.

“The alumina content discovered in the Lindfield project potentially opens up a whole new high-value product to our vanadium deposit,” he said.

“Metallurgical analysis is underway and has early stage indications that the Lindfield project may be suitable for high purity alumina production.”

He said the confidence the company held for Lindfield meant that it had accelerated the start of its scoping study.

The State Government has thrown its backing behind vanadium as a potential industry. It has provided $75 million for a vanadium, HPA and critical minerals demonstration facility in Townsville.

HPA is a high value product that is being used in lithium batteries.