VanadiumCorp-Electrochem Process Technology Development Planned For Australian Joint Venture
VanadiumCorp-Electrochem Process
Technology Development Planned For
Australian Joint Venture
VANCOUVER, May 13, 2019 /CNW/ - VanadiumCorp Resource Inc.
(TSX-V: "VRB") (the "Company") applauds the Joint Venture
Agreement ("JV") signed with vertically integrated electrochemical
processing and energy storage technology company Ultra Power
Systems Pty Ltd ("UPS") and Australian Vanadium Limited (ASX:
AVL, "AVL") to evaluate and develop the Coates Vanadium Project
near Perth.
The Coates deposit is situated approximately 35km east of the Perth
metropolitan area in the Shire of Wundowie. UPS aims to produce
vanadium electrolyte using a combination of a unique processing
route and high-density vanadium electrolyte production. AVL has
signed the JV to create value for shareholders by monetising a
secondary asset and testing VanadiumCorp-Electrochem Processing
Technology ("VEPT") focused on enhancing the uptake of vanadium
redox flow batteries in Australia. The Joint Venture Agreement allows
for AVL to receive either $500,000 or equivalent shares in UPS.
Further detail is available on AVL's website
at: https://www.australianvanadium.com.au/
Australian Vanadium is a resource company focused on vanadium,
seeking to offer investors a unique exposure to all aspects of the
vanadium value chain – from resource through to steel and energy
storage opportunities. AVL is advancing the development of its world-
class Australian Vanadium Project. The Australian Vanadium Project
is currently one of the highest-grade vanadium projects being
advanced globally with 183.6Mt at 0.76% vanadium pentoxide (V₂O₅),
containing a high-grade zone of 96.7Mt at 1% V2O5 with an Ore
Reserve of 9.82Mt at 1.07% V2O5 Proved and 8.42Mt at 1.01% V2O5
Probable Resource, reported in compliance with the JORC Code 2012
(see ASX announcement dated 19 December 2018 'Gabanintha Pre-
Feasibility Study and Maiden Ore Reserve') AVL has developed a
local production capacity for high-purity vanadium electrolyte, which
forms a key component of VRFB. AVL, through its 100%-owned
subsidiary VSUN Energy Pty Ltd, is actively marketing VRFB in
Australia.
Ultra Power Systems Pty Ltd. was formed for the purpose of offering
next generation power and storage system solutions to capital
conscious clients. The company intends to provide brand and
generation agnostic solutions according to a customer's needs, but
with the core provision of a third-generation VRFB, which represents a
transformational catalyst to enable the vision of blended power supply
inputs on micro- and mega-grids.
VanadiumCorp Resource Inc and Electrochem have a patent option
agreement (POA) with Ultra Power Systems Pty Ltd. to purchase an
exclusive Australian license and build a process plant for VEPT.
Jointly developed and owned with Electrochem, this innovative
chemical process allows for integrated and low carbon footprint
recovery of vanadium, ferrous sulfate, and titanium hydrolysate
needed on a global scale. VanadiumCorp also holds a significant
vanadium-titanium-iron bearing resource base in mining friendly
Quebec, Canada including the 100% owned Lac Dore Project
adjacent to Blackrock Metals Inc. and the 100% owned Iron-T Project
near the Glencore Matagami (Zinc-Copper) Mine.
Electrochem Technologies & Materials Inc. is a private Canadian
corporation that invents, develops, patents, scales-up and
commercializes proprietary chemical, metallurgical and
electrochemical technologies that are innovative, and sustainable.
Electrochem currently owns twenty four patents worldwide. The
company also manufactures industrial electrodes, recycles rare earths
and produces tantalum and tungsten fine chemicals at its production
facilities in Boucherville.
On behalf of the board of VanadiumCorp:
Adriaan Bakker
___________________
President and Chief Executive Officer
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.
SOURCE VanadiumCorp Resource Inc.
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For further information: Adriaan Bakker, President and CEO,
VanadiumCorp Resource Inc. (TSX-V: "VRB"), By phone: 604-385-
4489, By email: [email protected], Website:
www.vanadiumcorp.com
CO: VanadiumCorp Resource Inc.
CNW 09:30e 13-MAY-19