Intermin Resources and JV Partner Work Up Richmond Resource

THE DRILL SERGEANT: Intermin Resources (ASX: IRC) is in a Joint Venture with AXF Resources that covers the1,550 square kilometre Richmond vanadium project over five exploration permits 260km east of Mt Isa in central Queensland.

Intermin Resources informed the market that AXF has commenced metallurgical sampling and compilation of an updated JORC 2012 Compliant Mineral Resource Estimate for the Richmond Vanadium project.

Intermin explained the updated Mineral Resource Estimate is being compiled to account for recent changes in tenement boundaries and to comply with JORC 2012 reporting requirements.

Intermin has conducted extensive field work and metallurgical test work to assess pre-concentration and metal extraction flowsheets, while AXF has completed initial bulk sample collection of vanadium ore for dispatch to research institutes in China for detailed metallurgical testwork.

The project contains a historic 3.3 billion tonne vanadium – molybdenum Resource (JORC 2004) grading 0.4 per cent vanadium oxide (V2O5) and 295 grams per tonne molybdenum trioxide (MoO3)

“With the increasing interest in the energy metals space and rising vanadium prices, we are extremely pleased to be advancing this globally significant resource with our JV partner AXF who bring both technical expertise and commercial opportunities in China,” Intermin Resources managing director Jon Price said in the company’s announcement to the Australian Securities Exchange.

“Vanadium redox flow battery applications for grid-scale renewable energy storage systems is set to continue growing at a rapid rate and, together with conventional steel alloy and chemical demand, places the project front and centre as a potential leading supplier into the future.”