Project Overview

 

VHM Limited holds several exploration tenements within the Loddon Mallee Region of Victoria. The Goschen Zircon and Rare Earth Minerals Project (Goschen Project) is located primarily in Exploration Licence EL 5520, as indicated by the Target Mineralisation Zones. VHM is focused on exploration, environmental and metallurgical assessments within these zones. These assessments will be used to refine the proposed location of mine pits and support infrastructure, which will be progressively developed and rehabilitated over the life of the Project.

Goschen Zircon and Rare Earth Minerals Project

Resource definition activities have confirmed the Project comprises of numerous high-grade zones of heavy mineral sand (HMS), rich in zircon, rutile, titanium and rare earth minerals. The rare earth mineral deposit contains a significant proportion of critical rare earth metals which include high concentrations of neodymium and praseodymium as well as significant levels of dysprosium and terbium. These metals are critical in the manufacture of industrial permanent magnets and high energy density batteries required in production of electric vehicles and essential for the renewable energy market and the manufacture of generators for wind turbines.

While both the zircon and rare earth minerals project are individually viable, the Goschen Project enjoys a significant cost advantage with its dual product stream. With multiple products being produced using the same processing facility, this will result in a significantly lower operating cost. As part of its approach, VHM Limited has had a strong focus on product definition and assessments to date have shown that the Project can produce quality products including a high-grade rare earth mineral concentrate (REMC) and a heavy mineral concentrate.

Favourable Deposit Characteristics

The Goschen Project's rare earth and zircon deposit is unique as the mineralisation occurs in the form of fully liberated sands near the surface. This is unlike many other deposits in Australia which are hosted within hard rock. This translates to significant cost benefits in both the mining and processing operations when compared to other rare earth mineral projects which require handling and processing large quantities of material through crushing and grinding circuits.

Production

VHM will implement a proven flowsheet process using a conventional low-risk, low-cost ‘truck and shovel’ operation utilising an industry standard, off-the-shelf modular processing facility to mine the resources. Test-work and assessments which have been completed to date show high recoveries of heavy mineral concentrates and rare earth minerals reporting to Rare Earth Mineral Concentrate (REMC).