Horizon Minerals Reports Pre-Feasibility Study Results and Extensive Maiden Ore Reserve for Richmond – Julia Creek Vanadium Project

October 28, 2020 02:06 PM AEDT
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Australian explorer, Horizon Minerals Limited (ASX: HRZ) announced the results of Pre-Feasibility Study (PFS) of the Richmond-Julia Creek vanadium project located in Central North Queensland. PFS is based on initial 20-year life and demonstrates a financially viable project.

Lilyvale deposit mineral resource estimate stands at 560Mt at 0.48% V₂O₅for 2.6Mt V₂O₅ at a lower cut-off of 0.30%. Also, at the Lilyvale deposit, maiden open pit ore reserve is 459.2Mt grading 0.49% V₂O₅ for 2.25Mt V₂O₅.

The Company has advanced discussions with potential offtake partners and has received significant interest. Preliminary Environmental Assessment (PEA) Report has been completed, and the joint venture partners are reviewing costs and timing to advance the Definitive Feasibility Study.

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