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Horizon Minerals Corp.
Summary
| Project: | Richmond | |
|---|---|---|
| Deposit: | Richmond | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 6/16/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-6-2020: Horizon Minerals Corp. announces an Exploration/Drilling Update report for its Richmond deposit at the Richmond project. Drilling results incl. 9m @ 0.69% V2O5 from 2m. In March 2017, the Company entered a strategic development Joint Venture (“ | |
| Resources: | ||
| CP/QP: | [Overall Report] Warwick Nordin (Richmond Vanadium Technology Pty Ltd.) | |
| ABSTRACT: | In March 2017, the Company entered a strategic development Joint Venture (“JV”) with Richmond Vanadium Technology Pty Ltd (“RVT”). The JV covered Horizon’s 100% interest in the Richmond vanadium project comprising 1,550km2 of Cretaceous Toolebuc Formation (Figure 2) 1 . RVT completed the initial earn in period (A$1 million to earn 25% interest) in March 2018 and have commenced the second stage expenditure commitment of A$5 million over 3 years inclusive of a Feasibility Study to earn a further 50% interest in the project. Since commencement of the JV, RVT have conducted extensive metallurgical test work initially focussed on upgrading the run of mine ore prior to downstream processing of the concentrate. Results from the concentration tests using simple screening, gravity and flotation mineral dressing techniques produced excellent results with the concentrate comprising 21% of the original mass at an improved grade of 1.6% V2O5 and a 73% recovery 2 . The concentrate produced also had a greatly reduced calcium content enabling a number of downstream processing options to be pursued. Downstream pilot plant testing utilising conventional proven roasting and acid leaching techniques produced commercial grade vanadium pentoxide with acceptable recoveries. | |
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