Ticker: Private Company
Project Stage: Exploration
The Richmond – Julia Creek area hosts one of the few Vanadium deposits worldwide with a non- titaniferous magnetite (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.
The Inferred Mineral Resource of 2,579Mt @ 0.32% Vanadium Pentoxide (V2O5) at a 0.29% cut-off grade suggests that it is one of the largest and highest-grade Vanadium deposits in the world.
This unique mineralisation and scale gives rise to a range of advantages. The shallow, soft nature of the deposit would make it amendable to simple free dig, sequential mining. Examples of this can be seen in the numerous quarries in the area supplying material for road surfaces.
Exploration is a relatively low impact process due to the same factors. With such a soft and shallow deposit aircore drilling is the preferred method and has been used previously in the area and by Richmond Vanadium in drilling programs during 2019. Aircore drilling uses hardened steel or tungsten blades to bore holes into the soft ground. An aircore drill rig is mounted on the back of a light truck or utility vehicle. Each hole drilled is around 20 metres deep and 15 centimetres wide and takes less than half an hour to complete. The drill rig consumes negligible water and makes little noise. Following drilling the holes are capped with specialised hole plugs and covered over with soil, with minimal disturbance to the surface.
Richmond Vanadium Technology will share the latest updates about their projects during Mines and Money Online Connect. Register your free content pass to hear their presentation.