HRZ:
Richmond-Julia Creek: The scale of the project places it as
one of the largest undeveloped vanadium resources in the world, 1,838 Mt at 0.36% V2O5 and 256 g/t MoO3 at a 0.30% V2O5 lower cut-off grade., and is close to surface and remains open in all directions.
The Richmond Mineral Resource is hosted in soft oxidised marine sediments as opposed to the majority of global vanadium resources found in hard rock resources, lending itself to lower cost mining and processing compared to the hard rock resources.
Lilyvale Prospect:
560 Mt grading 0.48% V205 for 2.6Mt V205 and 213 g/t Mo and 277g/t Ni at a 0.30% V205 lower grade cut-off.
The USGS estimates that world economic resources of vanadium are about 19 million tonnes (Mt) but total world resources exceed 63 Mt. China dominates world vanadium resources with 42% followed by Russia at 23%, and Australia at 18%