VanadiumCorp Reports Initial Davis Tube Testing Results Including 11.99 M Containing 29.9% Magnetics with 1.69% V2O5, and New Drilling Results Including 0.67% V2O5 Over 27.1 M at Lac Doré, Québec
VanadiumCorp Reports Initial Davis Tube Testing
Results Including 11.99 M Containing 29.9% Magnetics
with 1.69% V2O5, and New Drilling Results Including
0.67% V2O5 Over 27.1 M at Lac Doré, Québec
VANCOUVER
,
March 26,
2020
/CNW/ - VanadiumCorp Resource Inc. (TSX-V: "VRB") ("VanadiumCorp" or the
"Company"), is pleased to announce drilling results for an additional four drill holes from the Company's summer-fall
2019 infill and extension drilling program at its Lac Doré Vanadium property. Holes reported are LD-19-001, LD-19-
019, LD-19-023 and LD-19-033, bringing the total number of holes with complete results received to seven (7), out of
35 holes drilled in 2019. The Lac Doré Vanadium property is located 27 km east-southeast from the city of
Chibougamau
, in Eeyou Istchee James Bay Territory, Northern Québec. The
Chibougamau
area is host to several
vanadiferous titanomagnetite (VTM) deposits, including the Southwest and Armitage deposits on the adjacent
Blackrock property (BlackRock Metals Inc.) and the South and North Zone deposits on the Mont Sorcier project to
the North (Vanadium One Iron Corp).
The 2019 drill program targeted the Company's Lac Doré Vanadium prospect where historical drilling and surface
channel sampling conducted between 1958 and 2013 have revealed the presence within property limits of massive,
semi-massive and disseminated bands of VTM mineralization along a 2 km long by
200 m
wide and minimum
200 m
deep corridor.
The Lac Doré Vanadium property lies on the southern flank of the Lac Doré anorthosite complex of
Chibougamau
and
straddles the layered magmatic zone, which hosts the VTM mineralization. This layered magmatic zone has been
traced by historical geophysics, drilling and mapping over a linear distance of 20 km.
Highlights
:
Davis Tube magnetic separation testwork on VTM mineralized core from drill hole LD-19-022 (Table 1) included
the following results:
4.98 m
* containing 24.7% magnetics with 1.61% V
2
O
5
and;
10.97 m
* containing 46.0% magnetics with 1.24% V
2
O
5
.
Davis Tube testwork results also show several VTM mineralized core intervals with anomalous V
2
O
5
contents of
magnetite in drillhole LD-19-024 (Table 1), including:
8.62 m
* containing 47.2% magnetics with V
2
O
5
of 1.51%;
11.99 m
* containing 29.9% magnetics with 1.69% V
2
O
5
and;
4.10 m
* containing 24.3% magnetics with 1.70% V
2
O
5
.
Davis Tube magnetic separation testwork results are consistent with historical Davis Tube testwork results and
confirm the presence of magnetite-bearing layers with the potential for high-V2O5 magnetite concentrates,
particularly the lower (P1 or P0) units.
Complete assay results received for an additional four (4) drill holes (Figure 1).
All four holes intersected significant
VTM
mineralization.
Best intercepts include:
o
ole LD-19-001 drilled at -45
o
to a depth of
396 m
intersected
27.1 m
* grading 0.67% V
2
O
5
(from
185.1 m
to
214.5 m
, core-length; Table 2; Figure 2), including
6.0 m
* grading 0.81% V
2
O
5
(from 205.5 to
211.5 m
,
core-length);
Hole LD-19-019 drilled at -55
o
to a depth of
180 m
intersected
24.5 m
* grading 0.64% V
2
O
5
(from
67.3 m
to
96.9 m
, core-length; Table 2; Figure 3), including
6.2 m
* grading 0.78% V
2
O
5
(from
74.3 m
to
80.5 m
core-length; Table 2; Figure 3);
Hole LD-19-023 drilled at -45
o
to a depth of
300 m
intersected
22.2 m
* grading 0.65% V2O5 (from 168.5 to
193.0 core-length; Table 2; Figure 4); including
7.1 m
* grading 0.77 % V2O5 (from
168.5 m
to
175.6 m
core-length; Table 2; Figure 4);
6.8 m
* grading 0.72 % V2O5 (from
177.5 m
to
184.3 m
core-length; Table
2; Figure 4); and
5.0 m
* grading 0.80 % V2O5 (from
188.0 m
to
193.0 m
core-length; Table 2; Figure 4).
Hole LD-19-033 drilled at -45
o
to a depth of
282 m
intersected
23.3 m
* grading 0.60% V2O5 (from 122.3 to
148.0 core-length; Table 2; Figure 5); including
2.7 m
* grading 0.72 % V2O5 (from
127.5 m
to
130.5 m
core-length; Table 2; Figure 5);
3.9 m
* grading 0.73 % V2O5 (from
136.5 m
to
140.8 m
core-length; Table
2; Figure 5); and
3.8 m
* grading 0.75 % V2O5 (from
143.85 m
to
148.0 m
core-length; Table 2; Figure 5).
Mineralization occurs as layers of massive, semi-massive and disseminated magnetite. Davis Tube results from
drillholes LD-19-022 and LD-19-024 (Table 2) show magnetite contents ranging from ~12% to ~53%.
*
True thickness. True thicknesses have been estimated by assuming a dip of the layering of 70° to
the SE, and the plunge of the drill hole towards the NW (-45° for LD-19-001, LD-19-022, LD-19-023
and LD-19-033, -60° for LD-19-024 or -55° for LD-19-019).
Adriaan Bakker
, President and CEO of VanadiumCorp, states: "We are very encouraged by the initial Davis Tube
test results that indicate that V
2
O
5
grades of up to 1.7% can be obtained in the magnetite concentrate. These early
positive metallurgical test results, combined with our latest drilling results continue to support our objective of
advancing our Lac Doré Vanadium project to the mineral resources estimation stage and beyond."
Davis Tube testwork results
Results from the first batch of samples submitted for Davis Tube Testwork is shown in Table 2 below.
Table 1: Summary of Davis Tube results for drillholes LD-19-022 and LD-19-024, with percentages of magnetics and
magnetite concentrates grades for Fe
2
O
3
, V
2
O
5
, TiO
2
, SiO
2
and Al
2
O
3
, intersected core lengths, estimated true
thicknesses, and magnetite-bearing stratigraphic zones.
Sample
BHID
FROM
(m)
O
(m)
CORE
LENGTH (m)
ESTIMATED
TRUE
THICKNESS
(M)
Zone
Mag
(%)
Fe
2
O
3
mags (%)
V
2
O
5
mags (%)
TiO
2
mags (%)
SiO
2
mags (%)
Al
2
O
3
mags (%)
DT1-1
LD-19-022
42.9
52.5
9.7
8.75
P3
30.5
90.70
1.03
9.08
0.98
0.75
DT1-2
52.5
58.5
6.0
5.44
P3
51.4
90.00
1.11
11.00
0.78
0.74
DT1-3
102.9
115.0
12.1
10.97
P2
46.0
87.70
1.24
11.50
1.02
0.80
DT1-4
118.4
123.7
5.4
4.85
P2
35.7
89.50
1.44
8.32
1.42
1.27
DT1-5
219.5
225.0
5.5
4.98
P1
24.7
93.20
1.61
4.84
1.04
1.06
DT1-6
252.5
255.3
2.9
2.58
P1/P0
11.8
94.00
1.44
3.34
1.38
0.93
DT1-7
LD-19-024
27.9
35.0
7.1
5.44
P3
39.1
88.10
1.06
10.40
1.16
0.95
DT1-8
104.0
109.0
5.1
3.87
P2
53.4
89.50
1.18
10.30
0.55
0.78
DT1-9
127.0
135.7
8.7
6.66
P2
33.4
94.30
1.46
6.15
0.74
0.70
DT1-10
175.0
186.3
11.3
8.62
P2
47.2
94.80
1.51
5.90
0.56
0.63
DT1-11
203.7
219.4
15.7
11.99
P2/P1
29.9
97.30
1.69
2.23
0.69
1.03
DT1-12
226.5
231.9
5.4
4.10
P1
24.3
96.50
1.70
2.86
0.93
0.82
Davis Tube tests were carried out at SGS Canada Inc.'s facilities in
Val d'Or, Quebec
. Samples were composited
over the intervals in Table 1 using pulp rejects from samples previously prepared for assay. The samples had already
been pulverized to 85% passing 75 μm. Composites were prepared using relative proportions based on weights of
the core samples submitted (i.e. these are weighted-average composites). The composite was further pulverized to
80% passing 38 μm, and a 20g subsample of the composite was taken for the Davis Tube testing. Samples were
added to the Davis tube and the tube was allowed to agitate for a period of four (4) minutes, after which the magnets
were interrupted, and the magnetic concentrate was collected. The tailings were collected in a pail. Both the
magnetic concentrate and non-magnetic tailings were filtered, dried, and weighed. The two products were analyzed
for Major elements SiO
2
, Al
2
O
3
, Fe
2
O
3
, MgO, CaO, Na
2
O, K
2
O, TiO
2
, P
2
O
5
, MnO, Cr
2
O
3
, V
2
O
5
, and LOI by
Whole Rock Analysis (WRA), as per the procedure outlined below. QAQC protocol was for two samples to be
subject to repeat tests.
Table 2: Summary of the significant intersections, with weighted average grades for V
2
O
5
, Fe
2
O
3
and TiO
2
,
intersected core lengths, and estimated true thicknesses.
HOLE-ID
FROM
(m)
TO
(m)
CORE
LENGTH
(m)
ESTIMATED
TRUE
THICKNESS
(m)
V2O5 (%)
Fe2O3 (%)
TiO2
Zone
LD-19-001
54.50
58.70
4.2
3.8
0.47
45.24
12.68
P3
LD-19-001
94.30
103.70
9.4
8.6
0.56
54.71
12.44
P2
LD-19-001
108.90
122.10
13.2
12.1
0.65
61.99
14.20
P2
LD-19-001
126.50
139.40
12.9
11.9
0.66
58.01
12.84
P2
LD-19-001
161.30
164.90
3.6
3.3
0.66
56.23
11.93
P2
LD-19-001
INCLUDING
185.10
214.50
29.4
27.1
0.67
53.09
10.65
P2
205.50
211.50
6.0
5.5
0.81
61.63
11.65
LD-19-001
218.00
225.50
7.5
6.9
0.78
59.34
10.86
P2
LD-19-001
231.30
233.80
2.5
2.3
0.71
53.05
9.26
P2
LD-19-001
INCLUDING
240.00
244.70
4.7
4.1
0.69
50.07
8.78
P1
240.00
243.00
3.0
2.6
0.76
54.30
9.67
LD-19-001
INCLUDING
251.60
257.40
5.8
5.0
0.64
47.49
7.88
P1
254.50
257.40
2.9
2.5
0.80
58.66
9.74
LD-19-001
INCLUDING
269.00
278.50
9.5
8.2
0.55
40.12
6.55
P1
272.80
275.60
2.8
2.4
0.73
51.98
8.83
LD-19-001
289.00
292.70
3.7
3.2
0.78
55.20
8.81
P1
LD-19-001
INCLUDING
307.00
318.10
11.1
9.6
0.54
38.17
5.77
P1
316.00
318.10
2.1
1.8
0.66
46.40
7.01
LD-19-019
38.25
43.20
5.0
4.0
0.68
60.64
14.22
P2
LD-19-019
47.80
63.85
16.1
13.2
0.68
57.88
12.66
P2
LD-19-019
INCLUDING
67.25
96.90
29.7
24.5
0.64
48.13
8.85
P2
74.30
80.50
6.2
5.1
0.78
57.44
11.10
AND
AND
81.80
96.90
15.1
12.5
0.59
43.80
7.44
90.20
96.90
6.7
5.6
0.64
46.05
7.83
LD-19-019
106.75
113.70
7.0
5.8
0.49
37.40
5.55
P2
LD-19-019
119.85
122.80
3.0
2.5
0.90
60.30
9.73
P2
LD-19-019
INCLUDING
134.25
145.35
11.1
8.3
0.50
34.71
5.25
P1
135.50
140.50
5.0
3.7
0.60
41.16
6.28
LD-19-023
18.70
30.30
11.6
9.3
0.59
59.12
14.72
P3
LD-19-023
52.70
56.40
3.7
3.3
0.59
58.18
13.23
P2
LD-19-023
INCLUDING
69.00
80.80
11.8
10.6
0.69
60.26
13.90
P2
70.50
78.00
7.5
6.7
0.74
63.94
14.56
LD-19-023
INCLUDING
97.90
112.20
14.3
12.9
0.67
58.54
13.11
P2
105.50
108.50
3.0
2.7
0.74
63.30
14.20
LD-19-023
130.70
135.80
5.1
4.6
0.71
59.63
12.61
P2
LD-19-023
INCLUDING
149.50
160.80
11.3
10.2
0.65
52.82
10.81
P2
155.00
160.80
5.8
5.2
0.71
56.79
11.39
LD-19-023
INCLUDING
AND
AND
168.50
193.00
24.5
22.2
0.65
51.23
9.51
P2
168.50
175.60
7.1
6.4
0.77
59.96
11.71
177.50
184.30
6.8
6.2
0.72
56.29
10.46
188.00
193.00
5.0
4.5
0.80
59.56
10.96
LD-19-023
199.50
204.50
5.0
4.5
0.83
60.43
10.90
P2
LD-19-023
INCLUDING
AND
AND
213.00
230.90
17.9
16.2
0.69
50.00
8.63
P2
213.00
223.25
10.3
9.3
0.77
55.60
9.78
224.80
226.20
1.4
1.3
0.87
62.40
10.90
228.40
230.90
2.5
2.3
0.89
61.50
10.60
LD-19-023
INCLUDING
AND
240.50
251.10
10.6
9.6
0.62
43.99
7.22
P2
240.50
246.70
6.2
5.6
0.72
50.75
8.38
250.20
251.10
0.9
0.8
0.92
64.40
10.80
LD-19-023
INCLUDING
257.50
268.70
11.2
9.4
0.49
34.44
5.22
P1
264.80
266.50
1.7
1.4
0.69
47.50
7.16
LD-19-033
39.00
47.55
8.6
6.9
0.38
51.61
12.33
P3
LD-19-033
INCLUDING
89.70
98.80
9.1
8.2
0.49
53.45
12.42
P2
95.70
98.80
3.1
2.8
0.62
62.30
14.81
LD-19-033
115.55
118.50
3.0
2.7
0.61
58.13
12.99
P2
LD-19-033
INCLUDING
AND
AND
122.30
148.00
25.7
23.3
0.60
48.81
9.40
P2
127.50
130.50
3.0
2.7
0.72
59.45
12.30
136.50
140.80
4.3
3.9
0.73
56.40
10.54
143.85
148.00
4.2
3.8
0.75
56.42
10.07
LD-19-033
INCLUDING
152.15
164.00
11.9
10.8
0.46
36.87
5.80
P2
155.15
158.00
2.9
2.6
0.68
50.12
8.63
LD-19-033
INCLUDING
166.95
178.40
11.5
10.5
0.49
37.34
5.76
P2
175.00
178.40
3.4
3.1
0.78
55.59
9.29
LD-19-033
186.00
198.40
12.4
11.4
0.39
31.44
4.41
P2
LD-19-033
214.70
224.00
9.3
7.9
0.48
34.82
5.36
P1
2019 exploration program
The summer-fall 2019 exploration program conducted at the Lac Doré Vanadium property was designed by the
Company with the aid of mining industry consultants InnovExplo of
Val-d'Or
, Québec and CSA Global of
Vancouver,
BC
. The exploration program was managed by InnovExplo of
Val-d'Or
, Québec under the supervision of the Table
Jamésienne de Concertation Minière (TJCM) of
Chibougamau
, Québec.
The infill and extension drilling program was the main component of the 2019 exploration program. Thirty-five (
35)
holes were drilled (total:
9,196 m
) within the outline of the corridor hosting banded VTM mineralization that was the
focus of historic drilling, including 28 holes drilled to map the continuity of VTM mineralization between historic holes
(
7,642 m
) and seven (7) holes drilled to twin historic holes (total:
1,554 m
).
The drilling was carried out by Miikan
Drilling Ltd of
Chibougamau
.
Drill core samples (half-core) are submitted to SGS Canada Inc.'s facilities in
Val d'Or
and
Quebec City, Quebec
for
preparation. The entire sample is dried as required and crushed to 75% passing 2 mm. A 1000-1500 g subsample is
then split out and pulverized to 85% passing 75 μm and ~150 g subsample taken for head assays.
Samples are then shipped to SGS Canada Inc.'s facility at
Lakefield, Ontario
for Whole Rock Analysis (WRA)
performed by X-Ray Fluorescence spectroscopy (XRF). The SGS facilities are ISO/IEC 17025 standard certified for
the methods used, and all analytical methods include quality control materials at set frequencies with established
data acceptance criteria. The suite of elements analysed includes SiO
2
, Al
2
O
3
, Fe
2
O
3
, MgO, CaO, Na
2
O, K
2
O,
TiO
2
, P
2
O
5
, MnO, Cr
2
O
3
, V
2
O
5
, and Loss on Ignition (LOI).
Strict QA/QC protocols designed by InnovExplo and CSA Global was implemented to ensure the assay results are
relevant, reliable and in accordance with industry standards, CIM Mineral Exploration Best Practice Guidelines (CIM
Exploration Guidelines, 2018) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-
101) disclosure requirements.
The QAQC Protocol is as follows:
Minimum 5% appropriate VTM standards to be inserted into the sample stream (i.e. 1 standard per 20
samples);
Minimum 5% blanks to be inserted into the sample stream;
All coarse rejects and pulps to be collected from the laboratory;
5% of pulps to be resubmitted to SGS in later batches as duplicates with new sample numbers;
5% of pulps to be submitted to an umpire laboratory.
The details of the first results received from the laboratory are presented in table below (Lengths are expressed
along drill core axis. The true thickness was not determined):
Hole Id
From
To
Core
Length
V2O5
(%)
High Grade
Interval V2O5
(>0.6%)
Grade Interval
V2O5 (>0.3%)
Fe2O3
(%)
High Grade
Interval Fe2O3
(>45%)
Grade Interval
Fe2O3 (>30%)
TiO2
(%)
Grade Interval
TiO2 (>9%)
Grade Inerval
TiO2 (>5%)
LD-19-001
54.5
56
1.5
0.43
0.47 % over
4.2 m
39.6
45.24 % over
4.2 m
12.2
12.68 % over
4.2 m
56
57.5
1.5
0.5
48.9
13.3
57.5
58.7
1.2
0.47
47.7
12.5
94.3
95.6
1.3
0.69
0.64 % over
4.1 m
0.56 % over
9.4 m
65.7
61.52 % over
4.1 m
54.71 % over
9.4 m
14.9
14.11 % over
4.1 m
12.44 % over
9.4 m
95.6
97
1.4
0.6
59.4
13.4
97
98.35
1.35
0.63
59.7
14.1
98.35
100.1
1.75
0.55
53.9
12.2
100.1
101.5
1.4
0.08
15.3
1.96
101.5
103.7
2.2
0.73
0.73 % over 2.2 m
67.9
67.90 % over 2.2 m
16.2
16.20 % over 2.2 m
108.9
110.5
1.6
0.64
0.65 % over
13.2 m
62.6
61.99 % over
14.5
14.20 % over
13.2 m
110.5
112
1.5
0.72
70
13.2 m
16.6
112
113.5
1.5
0.72
68.1
16.2
113.5
115
1.5
0.73
69.5
16.3
115
116.5
1.5
0.77
71.1
16.4
116.5
118.6
2.1
0.66
63.9
14.2
118.6
119.8
1.2
0.05
14
1.18
119.8
122.1
2.3
0.73
64.8
15.1
126.5
128
1.5
0.72
0.66 % over
63.2
58.01 % over
14.3
12.84 % over
12.9 m
128
129.5
1.5
0.75
12.9 m
65.5
12.9 m
14.5
129.5
132
2.5
0.6
54.4
11.8
132
133.5
1.5
0.61
56.3
12
133.5
135
1.5
0.58
52
11.5
135
136.5
1.5
0.7
59.5
13.9
136.5
138
1.5
0.65
56.8
12.5
138
139.4
1.4
0.68
58.8
12.9
161.3
163
1.7
0.63
0.66 % over
54.7
56.23 % over
11.4
11.93 % over
3.6 m
163
164.9
1.9
0.68
3.6 m
57.6
3.6 m
12.4
170.8
171.9
1.1
0.63
0.63 % over
1.1 m
54.7
54.70 % over
1.1 m
11.6
11.60 % over
1.1 m
185.1
186.5
1.4
0.7
0.67 % over
57.5
53.09 % over
12.2
10.65 % over
186.5
188
1.5
0.78
29.40 m
64.7
29.40 m
13.6
29.40 m
188
190
2
0.66
55.1
11.4
190
192
2
0.73
55.2
12.4
192
193.5
1.5
0.73
58.4
12.1
193.5
195
1.5
0.53
42.4
9.16
195
196.7
1.7
0.7
56.8
11.9
196.7
198
1.3
0.05
8.78
1.03
198
199.5
1.5
0.58
46.4
9.47
199.5
201
1.5
0.76
59.9
12.1
201
202.5
1.5
0.7
55.3
11.2
LD-19-001
202.5
204
1.5
0.63
51.4
9.8
204
205.5
1.5
0.74
57.9
11.2
205.5
207
1.5
0.79
0.81 % over
60.1
61.63 % over
11.5
11.65 % over
6.0 m
207
208.5
1.5
0.75
6.0 m
58.1
6.0 m
11
208.5
210
1.5
0.8
61.1
11.5
210
211.5
1.5
0.89
67.2
12.6
211.5
212.8
1.3
0.73
54.5
10
212.8
214.5
1.7
0.45
33.3
6.43
218
219.5
1.5
0.75
0.78 % over
57.1
59.34 % over
10.6
10.86 % over
7.5 m
219.5
221
1.5
0.75
7.5 m
56.6
7.5 m
10.5
221
222.5
1.5
0.74
56
10.2
222.5
224
1.5
0.8
60.6
11
224
225.5
1.5
0.87
66.4
12
231.3
233
1.7
0.74
0.71 % over
55.8
53.05 % over
9.7
9.26 % over
2.5 m
233
233.8
0.8
0.64
2.5 m
47.2
2.5 m
8.32
240
241.5
1.5
0.71
0.76 % over
0.69 % over
52.6
54.30 % over
50.07 % over
9.34
9.67 % over
3.0 m
8.78 % over
241.5
243
1.5
0.8
3.0 m
4.7 m
56
3.0 m
4.7 m
10
4.7 m
243
244.7
1.7
0.58
42.6
7.21
251.6
253
1.4
0.47
0.64 % over
35.5
47.49 % over
5.95
7.88 % over
253
254.5
1.5
0.49
5.8 m
37.1
5.8 m
6.1
5.8 m
254.5
256
1.5
0.77
0.80 % over
56.2
58.66 % over
9.5
9.74 % over
2.9 m
256
257.4
1.4
0.84
2.9 m
61.3
2.9 m
9.99
269
271.2
2.2
0.68
0.55 % over
49.7
40.12 % over
8.26
6.55 % over
271.2
272.8
1.6
0.18
9.5 m
15.9
9.5 m
2.43
9.5 m
272.8
274.5
1.7
0.69
0.73 % over
48.6
51.98 % over
8.55
8.83 % over
2.8 m
274.5
275.6
1.1
0.78
2.8 m
57.2
2.8 m
9.25
275.6
277
1.4
0.29
23.8
3.25
277
278.5
1.5
0.64
45
7.28
289
290.7
1.7
0.68
0.78 % over
48.5
55.20 % over
7.82
8.81 % over
3.7 m
290.7
292.7
2
0.87
3.7 m
60.9
3.7 m
9.66
307
308.5
1.5
0.59
0.54 % over
41.6
38.17 % over
6.47
5.77 % over
308.5
310
1.5
0.28
11.1 m
20.9
11.1 m
3.08
11.1 m
310
311.5
1.5
0.55
39.7
5.98
311.5
313
1.5
0.62
44
6.41
313
314.5
1.5
0.49
34.8
5.18
314.5
316
1.5
0.51
36.5
5.76
316
318.1
2.1
0.66
0.66 % over 2.1 m
46.4
46.40 % over 2.1 m
7.01
7.01 % over 2.1 m
LD-19-019
34
35.25
1.25
0.59
0.59 % over 1.25 m
55.8
55.80 % over 1.25 m
12.1
12.10 % over 1.25 m
38.25
39.5
1.25
0.68
0.68 % over
62
60.64 % over
14
14.22 % over
5.0 m
39.5
41
1.5
0.66
5.0 m
60.6
5.0 m
13.9
LD-19-019
41
42.5
1.5
0.67
61.2
14
42.5
43.2
0.7
0.76
57.1
15.8
47.8
48.5
0.7
0.49
0.68 % over
44.5
57.88 % over
8.85
12.66 % over
16.1 m
48.5
50
1.5
0.71
16.1 m
57.5
16.1 m
12.3
50
51.5
1.5
0.77
67
15.4
51.5
53
1.5
0.77
68.1
15.6
53
54
1
0.73
63.9
14.7
54
54.9
0.9
0.72
63.2
14.4
54.9
55.4
0.5
0.03
10.3
0.67
55.4
56
0.6
0.75
61.4
15
56
57
1
0.7
60
13.1
57
58.5
1.5
0.65
54.8
12
58.5
60
1.5
0.68
56.7
12.2
60
61.5
1.5
0.69
57.9
12
61.5
63
1.5
0.69
56.4
11.7
63
63.85
0.85
0.68
55.8
11.8
67.25
68.7
1.45
0.77
0.64 % over
60.3
48.13 % over
12.3
8.85 % over
29.7 m
68.7
69.4
0.7
0.59
29.7 m
46.2
29.7 m
9.22
69.4
70.65
1.25
0.78
58.8
12.3
70.65
71.9
1.25
0.58
45
9.06
71.9
73
1.1
0.65
52.2
10.4
73
73.8
0.8
0.7
55.5
11.1
73.8
74.3
0.5
0.29
34.5
4.56
74.3
75
0.7
0.73
0.78 % over
56
57.44 % over
11.1
11.10 % over
6.2 m
75
76
1
0.74
6.2 m
56.4
6.2 m
10.9
76
77
1
0.81
59.3
11.8
77
78
1
0.78
55.5
10.7
78
79
1
0.76
56.3
10.6
79
80
1
0.81
60.1
11.4
80
80.5
0.5
0.81
58.7
11.3
80.5
81
0.5
0.57
41.7
8
81
81.8
0.8
0.32
25.1
4.53
81.8
82.8
1
0.66
0.69 % over
50
50.55 % over
9.17
9.30 % over
2.6 m
82.8
84
1.2
0.66
2.6 m
48.3
2.6 m
8.85
84
84.4
0.4
0.85
58.7
11
84.4
85
0.6
0.52
37.5
7.59
85
85.6
0.6
0.18
22.1
2.31
85.6
86.25
0.65
0.66
44.5
7.99
86.25
87.7
1.45
0.38
30.7
4.44
87.7
89
1.3
0.73
51.6
8.97
89
89.8
0.8
0.53
42.1
6.26
89.8
90.2
0.4
0.31
28.5
3.62
LD-19-019
90.2
91.2
1
0.75
0.64 % over
49.2
46.05 % over
9
7.83 % over
6.7 m
91.2
92.5
1.3
0.29
6.7 m
26.7
6.7 m
3.81
92.5
93.65
1.15
0.78
56.6
9.85
93.65
94.9
1.25
0.41
29.1
5.03
94.9
96
1.1
0.83
59.7
10
96
96.90
0.9
0.93
63.9
11
103.25
103.9
0.65
0.9
0.90 % over 0.7 m
62
62.00 % over 0.7 m
10.4
10.40 % over 0.7 m
106.75
107.45
0.7
0.52
0.49 % over
39.9
37.40 % over
5.93
5.55 % over
7.0 m
107.45
108.85
1.4
0.41
7.0 m
35.3
7.0 m
4.83
108.85
109.85
1
0.84
0.84 % over 1
59.1
59.10 % over 1
9.65
9.65 % over 1
109.85
111
1.15
0.36
25.4
4.17
111
111.9
0.9
0.42
29.7
4.65
111.9
112.9
1
0.33
30.4
3.45
112.9
113.7
0.8
0.6
0.60 % over 0.8m
46.4
46.40 % over 0.8m
6.98
6.98 % over 0.8m
119.85
121.3
1.45
0.85
0.90 % over
57.3
60.30 % over
9.24
9.73 % over
3.0 m
121.3
122.8
1.5
0.94
3.0 m
63.2
3.0 m
10.2
134.25
135.5
1.25
0.44
0.50 % over
30.8
34.71 % over
4.76
5.25 % over
11.1 m
135.5
136.5
1
0.76
0.60 % over
11.1 m
51.6
41.16 % over
11.1 m
8
6.28 % over
5.0 m
136.5
137.7
1.2
0.16
5.0 m
11.2
5.0 m
1.74
137.7
139
1.3
0.72
49.3
7.54
139
140.5
1.5
0.73
51.1
7.68
140.5
141.1
0.6
0.33
25
3.48
141.1
142
0.9
0.14
10.6
1.56
142
143
1
0.58
40.3
6.05
143
145.35
2.35
0.45
32.4
4.86
149
150
1
0.4
0.39 % over
29.2
28.72 % over
4.05
4.06 % over
5.0 m
150
151
1
0.4
5.0 m
29.5
5.0 m
4.23
151
152
1
0.25
21.5
2.68
152
153
1
0.6
40.1
6.09
153
154
1
0.3
23.3
3.23
163
163.5
0.5
0.52
0.52 % over 0.5 m
37.5
37.50 % over 0.5 m
5.83
5.83 % over 0.5 m
179
180
1
0.55
0.55 % over 1.0 m
41.7
41.70 % over 1.0 m
5.26
5.26 % over 1.0 m
LD-19-023
18.7
19.8
1.1
0.52
0.59 % over
54.2
59.12 % over
13.5
14.72 % over
11.6 m
19.8
22
2.2
0.49
11.6 m
52.7
11.6 m
13.3
22
24
2
0.59
58.5
14.7
24
25.5
1.5
0.55
55.2
13.7
25.5
26.9
1.4
0.58
56.6
14.1
26.9
28.5
1.6
0.72
0.71 % over
68.9
68.00 % over
16.9
16.74 % over
3.4 m
28.5
30.3
1.8
0.71
3.4 m
67.2
3.4 m
16.6
32.8
34.5
1.7
0.36
0.41 % over
47.8
46.60 % over
8.67
9.60 % over
LD-19-023
34.5
36
1.5
0.5
5.8 m
53.4
5.8 m
11.4
5.8 m
36
36.7
0.7
0.66
65.4
15.3
36.7
38
1.3
0.15
21.4
3.86
38
38.6
0.6
0.6
58.9
13.5
52.7
54
1.3
0.61
0.59 % over
60.9
58.18 % over
13.9
13.23 % over
3.7 m
54
55.5
1.5
0.56
3.7 m
54.8
3.7 m
12.3
55.5
56.4
0.9
0.62
59.9
13.8
69
70.5
1.5
0.63
0.69 % over
56.3
60.26 % over
13.1
13.90 % over
11.8 m
70.5
72
1.5
0.74
0.74 % over
11.8 m
62.4
63.94 % over
11.8 m
14.3
14.56 % over
7.5 m
72
73.5
1.5
0.72
7.5 m
58.5
7.5 m
14.1
73.5
75
1.5
0.73
63.2
13.8
75
76.5
1.5
0.77
68.2
15.4
76.5
78
1.5
0.74
67.4
15.2
78
79.5
1.5
0.55
46.8
11.3
79.5
80.8
1.3
0.63
59.1
14
83
83.7
0.7
0.78
0.78 % over 0.7 m
68.1
68.10 % over 0.7 m
16
16.00 % over 0.7 m
97.9
99.5
1.6
0.71
0.67 % over
61.8
58.54 % over
14.4
13.11 % over
14.3 m
99.5
101
1.5
0.72
14.3 m
64
14.3 m
14.3
101
102.5
1.5
0.64
52.9
12.9
102.5
103.7
1.2
0.64
56.9
12
103.7
104.2
0.5
0.33
35.7
6.52
104.2
105.5
1.3
0.62
56.9
12.5
105.5
107
1.5
0.77
0.74 % over
65.7
63.30 % over
14.8
14.20 % over
3.0 m
107
108.5
1.5
0.71
3.0 m
60.9
3.0 m
13.6
108.5
110
1.5
0.64
56
12.5
110
112.2
2.2
0.69
58.6
12.9
119.2
120.2
1
0.55
0.55 % over 1.0 m
47.3
47.30 % over 1.0 m
10.3
10.30 % over 1.0 m
130.7
132
1.3
0.6
0.71 % over
52.4
59.63 % over
10.9
12.61 % over
5.1 m
132
134.3
2.3
0.73
5.1 m
61
5.1 m
13
134.3
135.8
1.5
0.76
63.8
13.5
149.5
151
1.5
0.72
0.72 % over 1.5 m
0.65 % over
60.6
60.60 % over 1.5 m
52.82 % over
12.7
12.70 % over 1.5 m
10.81 % over
11.3 m
151
151.7
0.7
0.54
11.3 m
43.4
11.3 m
9.41
151.7
154.2
2.5
0.67
53.7
11.7
154.2
155
0.8
0.08
14.9
1.46
155
155.5
0.5
0.69
0.71 % over
56.5
56.79 % over
11.1
11.39 % over
5.8 m
155.5
157
1.5
0.74
5.8 m
60.6
5.8 m
12.1
157
158.5
1.5
0.7
54.7
11.2
158.5
160
1.5
0.72
57.2
11.5
160
160.8
0.8
0.65
53
10.4
168.5
170
1.5
0.77
0.77 % over
0.65 % over
60.9
59.96 % over
51.23 % over
12.3
11.71 % over
7.1 m
9.51 % over
24.50 m
170
171.5
1.5
0.77
7.1 m
24.50 m
60.5
7.1 m
24.50 m
11.9
LD-19-023
171.5
173
1.5
0.72
55.3
10.8
173
174.5
1.5
0.83
64.3
12.5
174.5
175.6
1.1
0.73
58.4
10.8
175.6
177.5
1.9
0.2
24.7
3
177.5
179
1.5
0.74
0.72 % over
58.8
56.29 % over
11.3
10.46 % over
6.8 m
179
180.3
1.3
0.83
6.8 m
62.8
6.8 m
11.9
180.3
181.1
0.8
0.08
16.6
1.99
181.1
183
1.9
0.89
68
12.7
183
184.3
1.3
0.72
54.2
10
184.3
186
1.7
0.49
37.2
7.02
186
188
2
0.21
19.3
3.16
188
189.5
1.5
0.76
0.80 % over
57
59.56 % over
10.5
10.96 % over
5.0 m
189.5
191
1.5
0.74
5.0 m
55.8
5.0 m
10.3
191
193
2
0.88
64.3
11.8
199.5
201
1.5
0.83
0.83 % over
59.8
60.43 % over
10.9
10.90 % over
5.0 m
201
202.5
1.5
0.87
5.0 m
64.9
5.0 m
11.7
202.5
204
1.5
0.84
60.4
10.8
204
204.5
0.5
0.69
49
8.81
213
214.5
1.5
0.82
0.77 % over
0.69 % over
60.2
55.60 % over
50.00 % over
10.6
9.78 % over
10.3 m
8.63 % over
17.9 m
214.5
216
1.5
0.8
10.3 m
17.9 m
58.6
10.3 m
17.9 m
10.4
216
218.5
2.5
0.72
53.2
9.25
218.5
220
1.5
0.7
51.4
8.89
220
221.5
1.5
0.85
61.1
10.4
221.5
223.25
1.75
0.76
51.4
9.51
223.25
224.8
1.55
0.27
23
3.47
224.8
226.2
1.4
0.87
0.87 % over 1.4 m
62.4
62.40 % over 1.4 m
10.9
10.90 % over 1.4 m
226.2
228.4
2.2
0.28
22
3.23
228.4
230.9
2.5
0.89
0.89 % over 2.5m
61.5
61.50 % over 2.5m
10.6
10.60 % over 2.5m
240.5
242.4
1.9
0.92
0.72 % over
0.62 % over
64.3
50.75 % over
43.99 % over
10.8
8.38 % over
6.2 m
7.22 % over
10.6 m
242.4
243.5
1.1
0.31
6.2 m
10.6 m
23.2
6.2 m
10.6 m
3.78
243.5
245.85
2.35
0.75
52.7
8.54
245.85
246.7
0.85
0.74
50.7
8.5
246.7
249
2.3
0.31
23.3
3.65
249
250.2
1.2
0.46
33.4
5.37
250.2
251.1
0.9
0.92
0.92 % over 0.9 m
64.4
64.40 % over 0.9 m
10.8
10.80 % over 0.9 m
257.5
259
1.5
0.51
0.49 % over
36.1
34.44 % over
5.69
5.22 % over
11.2 m
259
260.5
1.5
0.37
11.2 m
25.7
11.2 m
4.07
260.5
262
1.5
0.48
34.6
5.17
262
263.5
1.5
0.57
39.1
5.95
263.5
264.8
1.3
0.33
23.4
3.49
264.8
266.5
1.7
0.69
0.69 % over 1.7 m
47.5
47.50 % over 1.7 m
7.16
7.16 % over 1.7 m
266.5
268.7
2.2
0.43
32.4
4.73
LD-19-033
39
40.6
1.6
0.31
0.38 % over
49.9
51.61 % over
11.1
12.33 % over
8.6 m
40.6
42.25
1.65
0.32
8.6 m
48.8
8.6 m
10.5
42.25
43.25
1
0.52
66
17
43.25
45
1.75
0.41
52.7
12.8
45
46
1
0.4
49.7
12
46
47.55
1.55
0.39
47.1
12.2
89.7
91.2
1.5
0.38
0.49 % over
47.1
53.45 % over
10.1
12.42 % over
9.1 m
91.2
92.7
1.5
0.5
9.1 m
57
9.1 m
13
92.7
94.2
1.5
0.37
41.9
9.66
94.2
95.7
1.5
0.47
49.5
12
95.7
97.2
1.5
0.6
0.62 % over
60.6
62.30 % over
14.4
14.81 % over
3.1 m
97.2
98.8
1.6
0.64
3.1 m
63.9
3.1 m
15.2
115.55
117
1.45
0.61
0.61 % over
59.3
58.13 % over
13.4
12.99 % over
3.0 m
117
118.5
1.5
0.61
3.0 m
57
3.0 m
12.6
122.3
123
0.7
0.55
0.60 % over
36.4
48.81 % over
10.5
9.40 % over
25.70 m
123
124.5
1.5
0.48
25.70 m
37.3
25.70 m
8.7
124.5
126
1.5
0.6
51.7
11.4
126
127.5
1.5
0.62
53.1
11.4
127.5
129
1.5
0.71
0.72 % over
59.3
59.45 % over
12.4
12.30 % over
3.0 m
129
130.5
1.5
0.73
3.0 m
59.6
3.0 m
12.2
130.5
132
1.5
0.69
56.4
11.4
132
133.65
1.65
0.64
49.5
10.1
133.65
135.2
1.55
0.07
23.7
1.3
135.2
136.5
1.3
0.61
50.9
9.33
136.5
138
1.5
0.76
0.73 % over
57.8
56.40 % over
11.2
10.54 % over
4.3 m
138
139.5
1.5
0.6
4.3 m
47.8
4.3 m
8.52
139.5
140.8
1.3
0.85
64.7
12.1
140.8
142.5
1.7
0.36
27.9
5.07
142.5
143.05
0.55
0.43
35.7
5.9
143.05
143.85
0.8
0.3
30.7
4
143.85
145
1.15
0.72
0.75 % over
54.4
56.42 % over
9.9
10.07 % over
4.2 m
145
146.5
1.5
0.72
4.2 m
54.5
4.2 m
9.58
146.5
148
1.5
0.8
59.9
10.7
152.15
153.65
1.5
0.45
0.46 % over
37.7
36.87 % over
5.95
5.80 % over
11.9 m
153.65
155.15
1.5
0.4
11.9 m
34.5
11.9 m
5.1
155.15
156.65
1.5
0.74
0.68 % over
54.1
50.12 % over
9.44
8.63 % over
2.8 m
156.65
158
1.35
0.61
2.8 m
45.7
2.8 m
7.72
158
158.7
0.7
0.44
34.8
5.19
158.7
160.1
1.4
0.18
19.4
2.29
160.1
161.6
1.5
0.32
27.2
3.93
LD-19-033
161.6
163.1
1.5
0.35
29.6
4.28
163.1
164
0.9
0.77
0.77 % over 0.9 m
54.5
54.50 % over 0.9 m
9.37
9.37 % over 0.9 m
166.95
168
1.05
0.38
0.49 % over
30.7
37.34 % over
4.49
5.76 % over
11.5 m
168
169.5
1.5
0.43
11.5 m
34.2
11.5 m
4.96
169.5
171
1.5
0.2
20.1
2.29
171
172.5
1.5
0.48
36.3
5.6
172.5
174
1.5
0.39
31.4
4.52
174
175
1
0.3
23.3
3.59
175
176.4
1.4
0.62
0.78 % over
45
55.59 % over
7.55
9.29 % over
3.4 m
176.4
177.4
1
0.91
3.4 m
64
3.4 m
10.8
177.4
178.4
1
0.89
62
10.2
186
187.5
1.5
0.38
0.39 % over
31.5
31.44 % over
4.44
4.41 % over
12.4 m
187.5
189
1.5
0.54
12.4 m
41.8
12.4 m
6.17
189
190.5
1.5
0.43
33.6
4.89
190.5
192
1.5
0.39
31.8
4.42
192
193.5
1.5
0.28
26
3.56
193.5
195
1.5
0.48
37.4
5.21
195
196.5
1.5
0.29
27.4
3.14
196.5
197.5
1
0.25
20.9
3.05
197.5
198.4
0.9
0.38
27.5
4.37
207
207.9
0.9
0.68
0.68 % over 0.9 m
48.4
48.40 % over 0.9 m
7.46
7.46 % over 0.9 m
214.7
216
1.3
0.53
0.48 % over
37.7
34.82 % over
5.9
5.36 % over
9.3 m
216
217.5
1.5
0.5
9.3 m
35.5
9.3 m
5.57
217.5
219.2
1.7
0.57
39.7
6.14
219.2
219.85
0.65
0.16
13.4
1.86
219.85
221.6
1.75
0.64
0.64 % over 1.8 m
45.2
45.20 % over 1.8 m
7.02
7.02 % over 1.8 m
221.6
223.1
1.5
0.37
28.6
4.29
223.1
224
0.9
0.35
26
3.89
Qualified Persons
The scientific and technical information disclosed in this news release has been prepared, reviewed and approved by
Mr.
Carl Pelletier
, B.Sc., P.Geo. (Québec) from InnovExplo, a consultant to the Company and an Independent
Qualified Person under NI 43-101 – Standards of Disclosure for Mineral Projects.
About VanadiumCorp Resource Inc.
VanadiumCorp
is developing an integrated supply chain enabling scalable, safe, sustainable, low cost, long duration
energy storage solutions for the clean energy future. VanadiumCorp is developing vanadium redox flow battery
technology under its XRG® brand, a wholly owned vanadium resource base in
Quebec, Canada
and jointly owned
process technology that recovers vanadium sustainably and efficiently.
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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