Overview
Status | Temporary Suspension |
Mine Type | Open Pit |
Commodities |
|
Mining Method |
|
Processing |
- Dewatering
- Wash plant
- Wet Screening
- Crush & Screen plant
|
Mine Life | 2 years (as of Jan 1, 2019) |
19 August 2021 - Venture Minerals Limited (ASX: VMS) (“Venture” or the “Company”) is pleased to announce that commissioning of the Wet Screening Plant at the Riley Iron Ore Mine, has been completed with the Wet Screening Plant now fully installed and fully operational. As a consequence, 24-hour processing is now underway, and Stage One of steady state production has been achieved.
17 September 2021 - First commercial shipment of iron ore achieved at the Riley Iron Ore Mine in Tasmania.
The company, together with the broader market, also continues to experience a volatile shipping market, largely due to congestion in Chinese Ports, together with COVID-19 and political impacts.
Although the Company believes that some of the external pressures in the market will likely only be temporary, Venture believes the best course of action is to temporarily suspend mining operations to preserve the reserve base. |
Latest News | Venture Minerals Limited: Riley Mine – Project Update Following Completion of First Iron Ore Shipment September 17, 2021 |
Source:
p. 21
The Riley DSO deposits are entirely located within granted Mining Lease 5M/2012 held by Venture Iron Pty Ltd a wholly owned subsidiary of Venture Minerals Ltd.
Summary:
The Riley deposit is a ferruginous laterite derived from weathering of the underlying Wilson River Ultramafic Complex of western Tasmania. The deposits are sedimentary in nature, most likely derived by the erosion of a once thicker veneer of ferruginous laterite covering Serpentine Ridge. There are three significant iron laterite deposits at Riley Creek, namely Areas A, C and D, covering a combined area of approximately 3km2.
The deposits consist of unconsolidated ferruginous lateritic gravel (pisolites) and cemented laterite. The ore is comprised of a combination of hematite and maghemite. The deposit has an average combined thickness of 1.5m, with some areas reaching up to 4m. The laterite deposits are thickest on the ridges, with Areas A and C the most significant of the three deposits. The resource is estimated to be 2.0M tonnes at an average density of 2.5 t/m3.
The in-situ iron grade of the lateritic gravel ranges from 36% to 64% Fe, and the cemented laterite 46% to 61% Fe.
A complete section through the laterite deposits consists of a surficial layer of lateritic gravel (RLG), underlain by a zone of cemented lateritic gravel (RLC)), then ferruginous clay (RCLY) with a variable amount of dispersed ferruginous gravel, minor lenses of lateritic gravel and locally lenses of quartz-rich sand, then greenish and cream clays and finally serpentinite basement. In some locations ferruginous gravel directly overlies clay or, around the margins of the deposits, serpentinite and metasedimentary basement. Sedimentary structures indicate the laterites are essentially colluvial and alluvial deposits most likely derived by the erosion of a once thicker veneer of laterite covering Serpentine Ridge.
Summary:
The ore at the Riley deposit is at surface and hence there is no strip ratio. The ore is free dig and will be extracted by excavator in a series of sequential mining panels. Each mining panel will be 25m wide, stretching the length of the resource.
Post completion of forestry activities, the land will be cleared of any remaining trees and debris. An initial mining panel will be cleared with all vegetation windrowed at the base of the cleared area. As mining progresses, the next parallel 25m wide panel will be cleared ready for mining.
The vegetation cleared from the next adjacent mining panel will then be pushed into the previously mined area allowing rehabilitation to commence. Material rejected from the screening plant will be placed back into the previously mined panels negating the need for a rock storage facility.
The depth of excavation is expected to average 1.5 metres, with some pockets up to 4m, so a conventional open pit design is not required.
The mining fleet will consist of 1 x 45t production excavator servicing five 40t trucks.
Flow Sheet:
Crusher / Mill Type | Model | Size | Power | Quantity |
Jaw crusher
|
|
|
|
1
|
Cone crusher
|
|
|
|
1
|
Summary:
Mined ore will be hauled to the Run of Mine (ROM) stockpile for crushing and screening.
Processing
- Dewatering
- Wash plant
- Wet Screening
- Crush & Screen plant
Flow Sheet:
Summary:
The proposed wet screening is an industry standard process as used in commercial gravel washing plants. The process consists of the following unit steps:
- Run of Mine (ROM) loading;
- Primary jaw crushing;
- Primary washing step;
- Secondary crushing;
- Wet screening to produce final product and <1mm fines;
- Dewatering of <1mm fines; Water recovery storage and distribution;
- Dewatered fines transported for rehabilitation.
Production:
Commodity | Units | Avg. Annual (Projected) | LOM (Projected) |
Iron Ore
|
M wmt
| 1 | 1.7 |
All production numbers are expressed as fines.
Reserves at June 19, 2019:
In estimating the resources, wireframing restricted the model to >50% Fe beneficiated grade, and a lower cut-off of 53% Fe was selected to obtain what is currently a marketable 57% Fe DSO product.
Category | Tonnage | Commodity | Grade |
Probable
|
1.6 Mt
|
Iron
|
57 %
|
Indicated
|
2 Mt
|
Iron
|
57 %
|
Mine Management:
Job Title | Name | Profile | Ref. Date |
.......................
|
.......................
|
|
Sep 14, 2021
|
- Subscription is required.
Corporate Filings & Presentations:
Document | Year |
...................................
|
2021
|
...................................
|
2021
|
...................................
|
2021
|
...................................
|
2019
|
- Subscription is required.
News:
Aerial view:
- Subscription is required.