Currie Rose Defines New Drill-Ready Exploration Target at the North Queensland Vanadium Project, Australia Targets 142.17 to 213.26 Mt of Vanadium Oxide Grading 0.22 to 0.33% V2O5 at Flinders River
Currie Rose Defines New Drill-Ready
Exploration Target at the North Queensland
Vanadium Project, Australia
Targets 142.17 to 213.26 Mt of Vanadium Oxide Grading 0.22
to 0.33% V2O5 at Flinders River
Toronto, Ontario--(Newsfile Corp. - March 13, 2023) -
Currie Rose Resources Inc. (TSXV: CUI)
("Currie Rose" or the "Company") is pleased to report the review and definition of a drill-defined
Exploration Target for the Flinders River area of the North Queensland Vanadium Project ("NQVP")
situated within the "Vanadium Hub", approximately 450 km west of the port of Townsville, Queensland,
Australia.
The Flinders River Exploration Target currently measures approximately 5.7 km in length and 3.9 km in
width, with an average thickness of 5.2 m and an average depth of 10 m. The Exploration Target
remains open to the northwest, east and southeast. The Exploration Target was calculated using
validated historical data and hosts a target of 142,170,000 tonnes up to 213,260,000 tonnes, with an
average grade ranging from 0.22 to 0.33 per cent (%) vanadium pentoxide (V
2
O
5
) and 192 to 288 ppm
molybdenum trioxide (MoO
3
) utilizing a 0.12% V
2
O
5
cut-off (Table 1).
The potential quantity and grade
are conceptual in nature. There has been insufficient exploration to define a mineral resource at
Flinders River and it is uncertain if further exploration will result in the target being delineated as a
mineral resource.
Mike Griffiths, CEO, President and Director, said
: "We've already proven there are significant
mineral resources in the Cambridge Deposit, and the new Flinders River Exploration Target is an
important step forward for the NQVP and Currie Rose. Historical exploration at Flinders River, including
radiometric data, historical mapping and darker soils identified from radiometric imagery, indicate the
potential for additional mineralization within the Toolebuc Formation to the southeast of the historical
drilling. In addition to the infill diamond drill hole program planned for the Cambridge Deposit, Currie
Rose is planning an infill aircore drill program at Flinders River to verify the historical drilling and to
potentially upgrade the Exploration Target to a Mineral Resource Estimate.
"Vanadium redox flow batteries will soon begin to play an integral role in supporting power grids and
bridging the gap of reliable alternative sources of energy. We believe that NQV Project presents a
massive opportunity to make our mark in the ever-evolving battery and energy metals markets."
Table 1 - Exploration Target*** Tonnes and Grades
Volume (m
3
)
Tonnes
V
2
O
5
(%)
MoO
3
(ppm)
Minimum
Maximum
Minimum
Maximum
Minimum
Maximum
Cut-off
Minimum
Maximum
78,990,000
118,480,000
142,170,000
213,260,000
0.22
0.33
0.12
192
288
*The potential quantity and grade presented represent an Exploration Target and are conceptual in
nature. There has been insufficient exploration to define a mineral resource at Flinders River and it is
uncertain if future exploration will result in a target being delineated as a mineral resource. The Target
has not been evaluated for reasonable prospects for future economic extraction. Metallurgical work is
ongoing and future drill programs are planned for the NQVP.
** For the conceptual estimate, the range of elemental V
2
O
5
is provided by multiplying the mean volume,
density and vanadium concentration of the Flinders River Exploration Target by +/- 20%.
***Molybdenum was treated as a by-product of Vanadium.
Figure 1 - Location of the North Queensland Vanadium Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2005/158093_554d82377485f9bc_002full.jpg
The Exploration Target is based upon a mineralization horizon that was constructed utilizing the results of
a 14-hole historic aircore (AC) drill program totalling 414 m. The drill program was completed in 2020 by
CGM Lithium and intersected anomalous vanadium mineralization in the coquina horizon of the Toolebuc
Formation. The Toolebuc Formation is a flat-lying, early Cretaceous (Albian ~100 Ma) sedimentary
package that consists predominantly of black carbonaceous and bituminous shale and minor siltstone,
with limestone lenses and coquinites (mixed limestone and clays).
Thirteen of the drillholes are situated
within NQVP tenement EPM 26866. Section by section geological and mineralization interpretation at a
0.12% V
2
O
5
lower cut-off was conducted, and the shapes were block modelled and estimated for V
2
O
5
.
The mineralization solid was intersected by a total of 11 drill holes, which have been sampled by 1 m
samples in their entirety. The mineralization solids contain a total of 57 sampled intervals representing
57 m of sample drill hole chips. For the conceptual estimate, the range of elemental V
2
O
5
is provided by
multiplying the mean volume, density and vanadium concentration of the Flinders River Exploration
Target by +/- 20%.
The Flinders River Exploration Target is situated immediately to the east of Vecco Group's Debella
Vanadium and High Purity Alumina Project. The Debella deposit is hosted within the Toolebuc
Formation, which is reported to be flat-lying and occurring at a depth of approximately 16.4 m.
Figure 2 - Plan view of Flinders River Exploration Target outlining the size and potential of the
area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2005/158093_554d82377485f9bc_003full.jpg
Currie Rose has not yet conducted any drilling at the NQVP. In preparation of the calculation of the
Exploration Target, Mr. Nicholls reviewed CGM Lithium's annual technical reports and drill hole
database. The AC samples were submitted to SGS in Townsville, Queensland, for preparation and
shipped to SGS in Perth, Western Australia for analysis. SGS is an ISO/IEC 17025:2005 accredited
third party geoanalytical laboratory. The entire sample was pulverized and analysed via XRF78S, which
includes a borate fusion with XRF analysis.
About the North Queensland Vanadium Project
The North Queensland Vanadium Project is the merger of the Toolebuc and Flinders River Vanadium
Projects and is situated approximately 450 km west of the port of Townsville (Figure 1). NQVP covers an
area of approximately 124,000 Ha and is close to rail, road and power infrastructure.
An Indicated Resource of 61.33 Mt @ 0.34% V
2
O
5
and an Inferred Resource of 144.87 Mt @ 0.33%
V
2
O
5
for the Cambridge Deposit was announced in November 2022 (see Currie Rose news release
dated November 1, 2022 and the Technical Report by Dufresne et al., 2022). As with Flinders River, the
Cambridge Deposit vanadium pentoxide (V
2
O
5
)
mineralization is hosted within marine sediments of the
Early Cretaceous Toolebuc Formation.
Photo 1 - Surface view of the Cambridge V
2
O
5
deposit - looking south
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2005/158093_554d82377485f9bc_004full.jpg
Preliminary metallurgical testwork on composited drill samples from the Cambridge Deposit is currently
underway. Currie Rose is planning an infill diamond drill program of large diameter core holes at the
Cambridge Deposit in order to conduct a larger bulk metallurgical sampling program and move toward a
process flow sheet appropriate for Preliminary Economic Assessment. In addition to the metallurgical
studies, drill holes will be:
Geotechnically logged for pit design
Assayed for inclusion in an updated resource estimate
Monitored for water information
In addition, an in-fill aircore drill program is planned for the Flinders River area to verify historical drilling
and to potentially upgrade the Exploration Target to a Mineral Resource Estimate.
Relevant clearances and approvals are underway and further updates will be released when available.
Qualified Persons
The technical content of this news release has been reviewed and approved by Michael Dufresne,
M.Sc., P.Geol., P.Geo., and Steven Nicholls, BA.Sc., M. AIG., both qualified persons as defined by
National Instrument 43-101. Mr. Nicholls conducted the most recent property visit in November 2021,
compiled the mineralized domains for the mineral resource estimation of the Cambridge Deposit, and
calculated the Flinders River Exploration Target.
About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals explorer and developer focused on identifying high-value
assets in mining-friendly jurisdictions. The Company's immediate focus is the advanced North
Queensland Vanadium Project in Queensland, Australia. The NQVP hosts the Cambridge Deposit with
an Indicated Mineral Resource of 61.33 Mt @ 0.34% V
2
O
5
and 234.6 ppm MoO
3
along with an Inferred
Mineral Resource of 144.87 Mt @ 0.33% V
2
O
5
and 241.9 ppm MoO
3
(Dufresne et al., 2022). The
Cambridge Deposit Resource is open for expansion. The Project also hosts multiple other drill-ready
targets that represent large areas of underexplored, prospective vanadium-rich host strata. Please visit
our website at
www.currierose.com
.
For additional information, please contact:
Mike Griffiths, CEO
Office: 905-688-9115 ext. 104
Email:
Iryna Zheliasko, Investor Relations
Office: 905-688-9115 ext. 322
Email:
Forward-Looking Statements
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release may contain forward-looking statements that are based on the Company's
expectations, estimates and projections regarding its business and the economic environment in
which it operates. These statements are not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ
materially from those expressed in these forward-looking statements and readers should not place
undue reliance on such statements. Statements speak only as of the date on which they are made,
and the Company undertakes no obligation to update them publicly to reflect new information or the
occurrence of future events or circumstances, unless otherwise required to do so by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/158093