VanadiumCorp Reports 87.3 M Grading 0.64% V2O5 and 53.37% FE2O3 at Lac Doré, Québec

VanadiumCorp Resource Inc. [TSX-V: “VRB“] is pleased to announce assay results for an additional seven (7) drillholes from the Company’s summer-fall 2019 infill and extension drilling program at its Lac Doré Vanadium property, as well as Davis Tube magnetic separation testwork results for 19 additional composite samples from six (6) drillholes. Assay results are reported for holes LD-19-016, LD-19-017, LD-19-020, LD-19-025, LD-19-029, LD-19-034 and LD-19-036, bringing the total number of holes with complete results received to fourteen (14) 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:

• Complete assay results received for an additional seven (7) drill (Figure 1).
• All seven holes intersected significant VTM
• Best intercepts include:
  • Hole LD-19-016 intersected 6 m* grading 0.66% V₂O₅ (Table 2; Figure 2), including 4.0 m* grading 0.73% V₂O₅;
  • Hole LD-19-017 intersected 39.5 m* grading 0.65% V₂O₅, including 6.0 m* grading 0.77% V₂O₅ (Table 2; Figure 3);
  • Hole LD-19-020 intersected 7.4 m* grading 0.81 % V2O5 (from 127.7 m to 135.1 m core-length; Table 2; Figure 4);
  • Hole LD-19-025 intersected 52.4 m* grading 0.69% V2O5, including 11.2 m* grading 0.74 % V2O5
  • Hole LD-19-029 intersected 87.3 m* grading 0.64% V2O5 Table 2; Figure 6;
  • LD-19-034 intersected 31.0 m* grading 0.55% V2O5 including 10.1 m* grading 0.66 % V2O5 (Table 2; Figure 7);
  • Hole LD-19-036 intersected 19.1 m* grading 0.58% V2O5 including 8.7 m* grading 0.68 % V2O5 (Table 2; Figure 5);

• Mineralization occurs as layers of massive, semi-massive and disseminated magnetite.
• Davis Tube magnetic separation testwork on composite samples of VTM mineralized core from drillholes LD-19-001, LD-19-002, LD-19-005, LD-19-019, LD-19-023 and LD-19-037 (Table 1) show magnetite contents ranging from ~22% to 62%, and included the following results:

• 7m* containing 41.9% magnetics with 1.40% V₂O₅ (LD-19-001)
• 5m* containing 28.3% magnetics with 1.58% V₂O₅; (LD-19-002)
• 2m* containing 24.6% magnetics with 1.67% V₂O₅ (LD-19-005)
• 5m* containing 50.4% magnetics with 1.38% V₂O₅ (LD-19-019)
• 6m* containing 61.5% magnetics with 1.10% V₂O₅ (LD-19-023)
• 1m* containing 21.5% magnetics with 1.70% V₂O₅ (LD-19-037)

• Davis Tube magnetic separation testwork results are consistent with previous results and confirm the presence of magnetite concentrates with V₂O₅ > 1.5% in the lower (P1 or P0) stratigraphic units.
• High-vanadium concentrates have low TiO₂ values, ranging from 1.21% to 6.33% in >1.5% V₂O₅ samples

* 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-19-002, LD-19-005, LD-19-023, and LD-19-037, -55° for LD-19-019).

Adriaan Bakker, President and CEO of VanadiumCorp, states: “We feel that these additional assay results are our best to date, and the second batch of Davis Tube tests continues to show consistent zones where magnetite concentrate grades exceed of 1.5% V₂O₅. We look forward to more results from drillcore assays and Davis Tube testwork over the coming weeks.”

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-19-001, LD-19-002, LD-19-005, LD-19-019, LD-19-23 and LD-19-037, with percentages of magnetics and magnetite concentrates grades for Fe₂O₃, V₂O₅, TiO₂, SiO₂ and Al₂O₃, intersected core lengths, estimated true thicknesses, and magnetite-bearing stratigraphic zones.

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-19-002, LD-19-005, LD-19-023, LD-19-037 and -55 for LD-19-019).

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 SiO₂, Al₂O₃, Fe₂O₃, MgO, CaO, Na₂O, K₂O, TiO₂, P₂O₅, MnO, Cr₂O₃, V₂O₅, 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 V₂O₅, Fe₂O₃ and TiO₂, intersected core lengths, and estimated true thicknesses.

 

* 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-19-016, LD-19-017, LD-19-034 and LD-19-036, -60° for LD-19-020, LD-19-025 and LD-19-029).

• LD-19-016 drilled at -45^o to a depth of 192 m
• LD-19-017 drilled at -45^o to a depth of 120 m
• Hole LD-19-020 drilled at -60^o to a depth of 201 m
• LD-19-025 drilled at -60^o to a depth of 270 m
• Hole LD-19-029 drilled at -60^o to a depth of 270 m
• LD-19-034 drilled at -45^o to a depth of 330 m
• LD-19-036 drilled at -45^o to a depth of 210 m

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 SiO₂, Al₂O₃, Fe₂O₃, MgO, CaO, Na₂O, K₂O, TiO₂, P₂O₅, MnO, Cr₂O₃, V₂O₅, 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.

Figure 1: Drill hole locations for the 2019 drilling program

Figure 2: Section LD-19-016

Figure 3: Section LD-19-017

Figure 4: Section LD-19-020

Figure 5: Section LD-19-025

Figure 6: Section LD-19-029

Figure 7: Section LD-19-034

Figure 8: Section LD-19-036

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):