Intermin Resources Achieves Positive Metallurgy Results at Richmond

THE DRILL SERGEANT: Intermin Resources (ASX: IRC), along with JV partner AXF Vanadium Pty Ltd, announced positive initial metallurgical testwork results from the Lilyvale prospect area, part of the Richmond vanadium project in northwest Queensland.

Intermin Resources said the first pass pre-concentration testwork was completed on samples from the Lilyvale prospect area aimed at upgrading the run of mine ore utilising gravity, screening and flotation prior to downstream processing.

The test work was carried out by Beijing General Research Institute of Mining and Metallurgy and the Hunan Research Institute for Nonferrous Metals in China.

Intermin explained both Institutes account for over 60 per cent of test work conducted on vanadium in China with testwork programs jointly developed using AXF’s in-house expertise and the considerable experience of both institutes.

Two-stage concentration tests resulted in a 1.1 per cent vanadium oxide (V2O5) grade in 39 per cent of the mass at a 78.4 per cent recovery.

Further test work is now underway to optimise the pre-concentration stages with the aim of delivering a 1.5 per cent to 2 per cent V2O5 feed stock at acceptable recovery for downstream processing test work.

The Lilyvale prospect has an Inferred Mineral Resource (JORC 2012) of 670 million tonnes at 0.35 per cent V2O5 at a 0.29 per cent cut-off grade.

Lilyvale is the initial development focus for the JV and forms part of the greater Richmond project with a Mineral Resource of 2,579 million tonnes at 0.32 per cent V2O5 at a 0.29per cent cut-off grade.

“The first pass results from Lilyvale are extremely encouraging and confirm the historic testwork completed by Intermin over the last decade,” Intermin Resources managing Director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“To have highly credentialed research institutes in China delivering 78 per cent of the vanadium into 39 per cent of the mass at good grades bodes well for the optimisation testwork now underway.

“We look forward to further results and moving forward with AXF on the downstream processing studies and upgrading the Lilyvale resource.

“With the soft oxide mineralisation just four metres below surface at Lilyvale, the scale of the project has the potential to compete with any world class vanadium deposit and meet the supply needs of both the steel and emerging energy storage markets.”