VanadiumCorp Launches 8,500m Infill and Extension Drilling Program at its Lac Doré Vanadium Project in Quebec
VanadiumCorp Launches 8,500m Infill and
Extension Drilling Program at its Lac Doré
Vanadium Project in Quebec
VANCOUVER
,
Sept. 3, 2019
/CNW/ - VanadiumCorp Resource Inc. (TSX-V: "VRB")
("VanadiumCorp" or the "Company") is pleased to report that a
8,500m
drilling program has
commenced at the Company's wholly owned Lac Doré property located 27 km east-southeast from
the city of
Chibougamau
in Eeyou Istchee James Bay Territory, Northern Québec. The drill program
targets the Company's flagship Lac Doré Vanadium Project where historical drilling and mechanical
trenching and channel sampling conducted between 1958 and 2013 have revealed the presence
within property limits of a 2 km-long by
200 m
wide and minimum
200 m
deep zone of banded
vanadiferous titanomagnetite (VTM) mineralization.
A total of 34 drill holes are planned, comprising infill and extension drilling together with select
twinning of historical holes. Concurrent to the drilling, the Company will resample select historical
trenches. VTM mineralized intersections will be then be tested using a combination of major and
trace element assays, Davis Tube testing and other magnetic tests to assess the head grades and
concentrate grades for vanadium, titanium and iron, as well as magnetite content and magnetite
proportions relative to ilmenite. Conditional to the success of the exploration program, the Company
aims to use the results of the drilling and trench resampling to prepare a Mineral Resource Estimate
for the Lac Doré Vanadium Project in accordance with National Instrument 43-101 and CIM
Standards on Mineral Resources and Reserves, Definitions and Guidelines.
Adriaan Bakker
, President and CEO of VanadiumCorp states: "This new round of systematic drilling
at our Lac Doré Vanadium Project, the first comprehensive drill program to be implemented on the
property since 1979, demonstrates VanadiumCorp's commitment to advance the Lac Doré
Vanadium Project to the Mineral Resources appraisal phase. By carrying out this drilling, the
Company is targeting confirmation of a globally significant VTM resource."
The summer-fall exploration program at the Lac Doré Vanadium Project has been designed by the
Company with the aid of mining industry consultants CSA Global of
Vancouver
and InnovExplo of
Val-d'Or
, Québec. The exploration program will be managed by InnovExplo, under the supervision of
the Table jamésienne de Concertation Minière (TJCM) of
Chibougamau
, northern Québec, a non-
profit regional development organization which provides on demand contractor monitoring, quality
control and technical support services to mining companies active in Eeyou Istchee James-Bay
territory.
The Company has awarded the drill contract to Miikan Drilling Ltd of
Chibougamau
, northern
Québec, a joint venture between Chibougamau Diamond Drilling Ltd of
Chibougamau
, Eskan
Company of
Mistissini
and Nimsken Corp. of
Ouje-Bougoumou
, northern Québec.
Assays will be completed at SGS Laboratories in
Val-d'Or
, Québec. Details of the metallurgical test
work program will be finalized following assessment of the drilling results.
Current drilling is utilizing two drill rigs on the property, with drilling scheduled for completion by the
end of
October 2019
.
Qualified Persons
The scientific and technical information in this release has been prepared, reviewed and approved by
Mr.
Carl Pelletier
, B.Sc., P.Geo. (OGQ) from InnovExplo, a consultant to the Company and an
Independent Qualified Person under National Instrument 43-101 – Standards of Disclosure for
Mineral Projects and is responsible for the technical content contained in this document.
About VanadiumCorp Resource Inc.
VanadiumCorp Resource Inc.
is an integrated technology and mining company focused on
developing the exclusive supply chain for vanadium based energy storage and emerging technologies
that utilize vanadium. VanadiumCorp is focused on commercializing the most efficient and sustainable
recovery method to produce vanadium with jointly developed process technology. 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 (Bracemac-McLeod) Matagami Copper-Zinc Mine.
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
.
Cautionary & Forward-Looking Statements
This release contains forward-looking statements. All statements other than statements of present
or historical fact are forward-looking statements, including statements with respect to the
anticipated use of Private Placement proceeds and anticipated receipt of final TSX Venture
Exchange acceptance for the Private Placement. Forward-looking statements include words or
expressions such as "will", "subject to", "expect" and other similar words or expressions. Factors
that could cause future results or events to differ materially from current expectations expressed or
implied by the forward-looking statements include general business, economic, competitive,
political and social uncertainties; the state of capital markets and risks that may impact the
Company's business, operations and financial condition. Although the Company believes that the
expectations reflected in these forward-looking statements are reasonable, undue reliance should
not be placed on them because the Company can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Additional information on these and other
factors that could affect the Company's operations and financial results are included in reports on
file with Canadian securities regulatory authorities and may be accessed through the SEDAR
website (
www.sedar.com
). We disclaim any obligation to update or revise these forward-looking
statements, except as required by applicable law.
SOURCE
VanadiumCorp Resource Inc.
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http://www.newswire.ca/en/releases/archive/September2019/03/c1481.html
%SEDAR: 00005245E
For further information:
Adriaan Bakker, President and CEO, VanadiumCorp Resource Inc., (TSX-
V: "VRB"), By phone: 1-604-385-4489, By email: [email protected], Website:
www.vanadiumcorp.com
CO: VanadiumCorp Resource Inc.
CNW 10:42e 03-SEP-19