Mining Intelligence and News
Australia

Richmond-Julia Creek Project

Click for more information

Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Vanadium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotFor 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.

BFS commenced, completion by Q3 2024.
EIS commenced, completion by Q4 2024.

Owners

SourceSource
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

Lock

- subscription is required.

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 source of road building materials in many areas.

The limestone within the Toolebuc Formation has an abundant fossil assemblage which has been extensively studied. Two main faunal assemblages have been recognised, corresponding to the upper coquina facies (shelly limestone and clay) and a lower fine-grained carbonate shale facies. The organic matter in the fresh shale is predominantly lamellar and referred to by Hutton et al (1980) as ‘lamosite’ (lamellar oil shale). The organic compounds are described as Alginite B in order to distinguish them from the more generally recognised Alginite A, in which clear evidence of algal morphology can be observed. Alginite B comprises elongate anastomosing films derived from benthonic algae that are attributable to the Cyanophyceae genera of blue-green algae (Ozimic, 1986).

High magnification scanning electron microscopy reveals the oil shale contains abundant micro fossils, dominated by small planktonic foraminifera and coccoliths (algal plates) believed to be derived from Cyanophta / blue- green algae. Average grain size of the lower oil shale calcareous nanofossils and clays are less than 5-7 microns. The blue-green algae are interpreted to have formed extensive algal mats on the sea floor. The preservation of dead algal matter can be related to an oxidising-reducing boundary probably situated immediately below the base of the living algal mat layer and keeping pace with its upward growth. The clays and kerogen are derived from planktonic algae and blue- green benthonic algae with the calcite representing the inorganic component of the organisms.

Lilyvale is largely a sub-horizontal deposit between 7730000N and 7739000N; and from 680500E to 696700E. It has a roughly WNW-ESE strike. The Indicated resource is roughly 6km x 6km in areal extent. Deposit thickness is defined by V2O5 cut-off; at a 0.30% cutoff Lilyvale averages about 10m in thickness.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

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
Annual mining rate  ....  Subscribe
Annual ore mining rate  ....  Subscribe
Annual milling rate  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
* According to 2020 study.

Production Costs

CommodityUnitsAverage
Cash costs V2O5 USD  ....  Subscribe
Assumed price V2O5 USD  ....  Subscribe
* According to 2020 study / presentation.

Operating Costs

Currency2020
OP mining costs ($/t milled) AUD 2.93 *  
* According to 2020 study.

Project Costs

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

Required Heavy Mobile Equipment

Lock

- subscription is required.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 8, 2024
....................... Subscription required ....................... Subscription required Subscription required Jan 8, 2024
....................... Subscription required ....................... Subscription required Subscription required Jan 8, 2024
....................... Subscription required ....................... Subscription required Subscription required Jan 8, 2024

Lock

- subscription is required.