Australia

Riley Mine

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Categories

Overview

Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Production Start... Lock
ShapshotThe Riley Iron Ore Mine is still in care and maintenance since suspending operations on the 17th of September 2021. The company provided an update on 5 April 2023 for a potential restart opportunity which management are investigating including, using dry screening, offtake discussions, storage solutions, road access agreements, working capital requirements, availability of trucks and shipping terms.

Owners

SourceSource
CompanyInterestOwnership
Venture Minerals Ltd. 100 % Indirect
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.

Deposit type

  • Laterite
  • Sedimentary

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.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. Annual (Projected)LOM (Projected)
Iron Ore M wmt 11.7
All production numbers are expressed as fines.

Production Costs

Commodity production costs have not been reported.

Heavy Mobile Equipment

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Personnel

Mine Management

Source Source
Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 27, 2023

Aerial view:

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