The Richmond – Julia Creek Vanadium project is a joint venture between Richmond Vanadium Technology and ASX listed explorer and gold producer Horizon Minerals Limited (formerly Intermin Resources Limited).
The scale of the project with a global Mineral Resource of 1.8Bt @ 0.36% Vanadium Pentoxide (V2O5) at a cut-off grade suggests that it is one of the largest and highest-grade undeveloped vanadium resources in the world.
The Richmond – Julia Creek area also hosts one of the few Vanadium deposits worldwide with a non-titaniferous (hard rock) Vanadium resource. The deposit is hosted in soft marine sediments, near the surface within oxidised limestone rich clay where there is no oil present.
This unique mineralisation and scale gives rise to a range of advantages. The shallow, soft nature of the deposit would make it amenable to simple free dig, sequential mining. Examples of this can be seen from the numerous quarries in the area supplying material for road surfaces.
A Pre-Feasibility Study centred on commercial evaluation and ore reserve generation from the updated Mineral Resource was completed in June 2020 with results released in October 2020 (see ASX:HZN Positive Feasibility Results for Richmond Vanadium Project).