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Australia
Richmond-Julia Creek Project

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 Location:
80.4 km NE from Julia Creek, Queensland, Australia

  Project Contacts:
Level 11 251 Adelaide Terrace
Perth
Western Australia, Australia
6000
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Overview

StagePre-Feasibility
Mine TypeOpen Pit
Commodities
  • Vanadium
Mining Method
  • Truck & Shovel / Loader
Mine Life20 years (as of Jan 1, 2020)
For the purposes of the economic analysis in the feasibility study, a mine life of only 20 years is considered while the proposed mining rate yields a nominal mine life of over 100 years.


Owners

Source:
CompanyInterestOwnership
Richmond Vanadium Technology Pty Ltd. 100 % Direct
15 June 2022 - Horizon Minerals Limited (ASX: HRZ) is pleased to advise that the restructure and demerger of Horizon’s 25% interest in the Richmond Vanadium Project (“RVP” or “Project”) into Richmond Vanadium Technology Pty Ltd (“RVT”) is now complete.

RVT now owns 100% of the Project with shares held by Horizon (25%) and existing shareholders of RVT (75%) and has commenced the IPO process with Joint Lead Managers Bell Potter Securities Ltd and Euroz Hartleys Ltd.

Contractors

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Deposit Type

  • Sedimentary


Summary:

The Richmond-Julia Creek project mineralisation is located within marine sediments of the Early Cretaceous Toolebuc Formation, a stratigraphic unit that occurs throughout the Eromanga Basin in central-northern Queensland.

The Eromanga Basin is a sub-basin of the Great Artesian Basin and consists of a number of thick sequences of non-marine and marine sedimentary units. The Toolebuc is part of the Rolling Downs Group of the Eromanga Basin that covers a wide but relatively shallow structural depression in eastern Australia, covering 1.5 million km2. The basin was developed as a major downward warpon a basement of Proterozoic to Palaeozoic metamorphic and igneous rocks during the Jurassic to Cretaceous Periods.

The Toolebuc Formation is a flat lying early Cretaceous (Albian ~ 100My) sediment that consists predominantly of black carbonaceous and bituminous shale and minor siltstone, with limestone lenses and coquinites (mixed limestone and clays). It is composed of two distinct units representing two different facies: an upper coarse limestone-rich-clay-oil shale unit (coquina) and a lower fine-grained carbonate-clay-oil shale unit.

The Toolebuc Formation outcrops only at the margins of the Eromanga and Carpentaria basins, except at Julia Creek where it is draped over an interpreted original basement high and has been structurally brought to the surface. Where the unit outcrops it forms low, rubbly, subtle topographic highs which have been the sou ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

A mining contractor will be engaged to conduct the mining activities with technical and managerial oversight provided by RVT. Mining will utilise conventional open cut methods which shall be 100% free dig of the ore and waste. No drill and blast is required due to the shallow nature of the oxide pit extending typically to an average depth of between 15 and 25m, and to a maximum depth of 31m.

Pre-strip of waste overburden shall be carried out by 200 tonne excavators and 180 tonne trucks, with the waste typically backfilled behind the advancing pit.

Ore mining at the base of the pit shall be undertaken by a 360 tonne excavator into a mobile in-pit sizer/lump breaker, with the ore picked up by a 100 tonne Front End Loader (FEL) and loaded in 180 tonne trucks to the surface concentrator.

Total movement from the LOM pit is 951.7Mt of rock at a strip ratio of 1.07.

Open pit mine designs have been completed, including a Life of Mine (LOM) pit and starter pit designs. The build-up of the mining costs is based on an initial pre-strip of the ore allowing the free dig mining of the ore body using a bucket excavator similar to PC3600 feeding a mobile in-pit sizer/lump breaker which loads CAT 789 haul packs using CAT992 FELs or similar. The pre-strip material will be cleared using EX1900 or similar excavators direct loaded into CAT 789 Haul packs hauled to an initial course waste dump. Once the pit has been established and the set out of the wo ........


Crushing and Grinding
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Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:
8.4Mt of total rock is mined per annum, generating 4.06Mt of ore mined from the open pit for concentration. This mining rate yields a nominal mine life of over 100 years at Lilyvale. For the purposes of the economic analysis in the feasibility, a mine life of only 20 years is considered.

CommodityProductUnitsAvg. AnnualLOM
V2O5 Concentrate kt 79015,800
V2O5 Flake kt 13254

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Annual mining rate  ......  Subscription required
Annual milling rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at June 16, 2020:
Ore Reserves and Mineral Resources are represented at 0.3% V2O5 cut-off grade.

CategoryTonnage CommodityGradeContained Metal
Probable 459.2 Mt V2O5 0.49 % 2.25 Mt
Indicated 430 Mt V2O5 0.5 % 2.15 Mt
Indicated 430 Mt Molybdenum 240 ppm 0.1 Mt
Indicated 430 Mt Nickel 291 ppm 0.1 Mt
Inferred 1,408 Mt V2O5 0.32 % 4.5 Mt
Inferred 1,408 Mt Molybdenum 254 ppm 0.36 Mt
Inferred 1,408 Mt Nickel 185 ppm 0.26 Mt
Total Resource 1,838 Mt V2O5 0.364 % 6.65 Mt
Total Resource 1,838 Mt Molybdenum 256 ppm 0.46 Mt
Total Resource 1,838 Mt Nickel 193 ppm 0.36 Mt

Commodity Production Costs:

CommodityUnitsAverage
Cash costs V2O5 USD  ......  Subscription required&nbs
Assumed price V2O5 USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2020
OP mining costs ($/t milled) AUD 2.93 *
* According to 2020 study.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of October 27, 2020:
HME TypeModelSizeLeased or
Contractor
Dozer Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Aug 26, 2022
....................... Subscription required ....................... Subscription required Subscription required Aug 26, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2020
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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