Ann: Richmond Vanadium lab results in as drilling commences, page-12

Yes that's pretty standard these days in the micro-cap resource sector, minor retail holders hoping to sell on a spike on new ann. just selling out for peanuts in the end disappointed.

I get that but I'm not here for a couple of cents.. 2018 overall since March has been a huge disappointment for this holder while AUD Gold and Vanadium spot prices have been healthy still 2019 is a new year.

Bring on the Vanadium Project>2019
>production rate analysis, flow sheet design, initial estimates of capital and operating costs and product sales analysis> these should well show a LOW CAPEX Vs HIGH Free Cashflows the likes of the KRC Ramp camp would only dream about..

Email to IRC holders just receieved from JP

26 November 2018
Dear All

Please find below the link to our latest announcement from the Richmond vanadium project.

Ore pre-concentration testwork has been continuing at 2 research labs in China with the latest optimisation results delivering excellent results.

The aim of the pre-concentration test work is to upgrade the run of mine ore to >1.5% using simple physical separation to minimise the amount of concentrate for downstream processing. The latest results delivered 73% of the vanadium into 21% of the original mass at a grade of 1.6% V₂O₅. By way of example, 1Mtpa mining rate would produce 210,000t of concentrate enabling a smaller and significantly cheaper downstream processing plant.

The test work also produced concentrate with very low calcium content (by removing a lot of the coarser shell material). This is also very significant as it enables the acid digestion downstream processing pathway to be considered as well as the roasting pathway. Further optimisation work is underway with another 2t of samples sent to China to provide sufficient material. Initial downstream work has also commenced with results expected mid-2019.

Drilling at the vanadium project has also commenced with 17,500m planned within a A$1.2m budget. Regional drilling will comprise 350 holes for 7,500m testing for higher grade areas within the project area at Rothbury, Manfred and Burwood.

Infill drilling at Lilyvale will comprise 450 holes for 10,000m to bring the current resource of 671Mt at 0.35% V₂O₅ in to the Measured and Indicated JORC Categories as part of the PFS planned for 2019. This will enable Lilyvale ore, the shallowest and highest grade, to be converted to Reserves for the PFS and potential offtake partner discussions.

Lilyvale has the potential to produce 98% flake and vanadium electrolyte at a globally relevant scale with highly competitive capital and operating costs when compared with hard rock magnetite ore developers.

The aim is to have a PFS in 2019 and move forward with a pilot plant in 2020 as part of a DFS. A 75 acre parcel of land has been purchased in Richmond with 66kv powerline on the northern boundary and the Flinders Highway and railway on the southern boundary.

To view the announcement, visit our website at www.intermin.com.au or click on the link below: