VanadiumCorp Resource drills 37.1 metres of 0.69% V2O5

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VanadiumCorp Resource Inc. [VRB-TSXV] released the latest assay results for an additional 10 drill holes from its summer-fall 2019 infill and extension drilling program at its Lac Doré Vanadium property, as well as new Davis Tube magnetic separation testwork results for 33 additional composite core samples from eight drill holes.

Assay results are reported for holes LD-19-003, LD-19-004, LD-19-005, LD-19-008, LD-19-013, LD-19-015, LD-19-018, LD-19-021, LD-19-032 and LD-19-035, bringing the total number of holes with complete assay results received to 24 out of 37 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 property to the North (Vanadium One Iron Corp).

The 2019 drill program targeted the company’s Lac Doré Vanadium Main 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-metre wide and minimum 200-metre 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

All 10 holes intersected significant VTM mineraliization. Best intercepts include:
• Hole LD-19-003: 18.4 m grading 0.69% V2O5, including 3.50 m grading 0.91% V2O5;
• Hole LD-19-004: 6.3 m of 0.97% V2O5;
• Hole LD-19-005: 27.6 m of 0.69% V2O5 ;
• Hole LD-19-008: 37.1 m of 0.69% V2O5, including 4.8 m of 0.81% V2O5;
• Hole LD-19-013: 32.7 m of 0.73% V2O5;
• Hole LD-19-015: 41.7 m of 0.68% V2O5;
• Hole LD-19-018: 40.7 m of 0.62% V2O5, including 6.0 m of 0.72% V2O5;
• Hole LD-19-021: 36.4 m of 0.62% V2O5, including 10.2 m of 0.73% V2O5;
• Hole LD-19-032: 29.1 m of 0.62% V2O5;
• Hole LD-19-035: 36.6 m of 0.65% V2O5.

Mineralization occurs as layers of massive, semi-massive and disseminated magnetite.

Davis Tube magnetic separation testwork on composite samples of VTM mineralized core from drill holes LD-19-003, LD-19-004, LD-19-016, LD-19-017, LD-19-025, LD-19-029, LD-19-33, and LD-19-034 show magnetite contents ranging from ~6% to 65%, and included the following results:

• 7.3 m containing 28.6% magnetics with 1.48% V2O5 (LD-19-016)
• 7.0 m containing 21.0% magnetics with 1.62% V2O5; (LD-19-017)
• 8.2 m containing 33.6% magnetics with 1.31% V2O5 (LD-19-033)
• 8.3 m containing 22.9% magnetics with 1.5% V2O5 (LD-19-034)
• 6.9 m containing 26.39% magnetics with 1.42% V2O5 (LD-19-003)
• m containing 60.93% magnetics with 1.42% V2O5 (LD-19-004)
• 13.4 m containing 41.67% magnetics with 1.42% V2O5 (LD-19-025)
• 2.4 m containing 42.08% magnetics with 1.54% V2O5 (LD-19-029)

Davis Tube magnetic separation testwork results are consistent with previous results, showing that lower (P1 or P0) stratigraphic units have elevated V2O5 in the magnetite concentrate (typically >1.5%V2O5) whereas the upper unit (P3) has lower V2O5 in the concentrate (typically <1.0%V2O5).

Adriaan Bakker, President and CEO, stated: “These latest drill core assay and of Davis Tube test results from our Lac Doré Vanadium Main prospect continue to show consistent zones where VTM mineralization grades a minimum of 0.6% V2O5 and magnetite concentrate grades exceed 1.5% V2O5. We look forward to more positive results from our ongoing drill core assays and Davis Tube testwork programs over the coming weeks.”

The infill and extension drilling program was the main component of the 2019 exploration program. Thirty-five holes were drilled (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 holes drilled to twin historic holes (total: 1,554 m).

VanadiumCorp is an integrated technology and mining company focused on developing an exclusive clean energy storage supply chain with XRG® vanadium redox flow battery technology, jointly owned process technology and its wholly owned and strategic vanadium resource base in Quebec. The company’s key mining assets contain vanadium, titanium and iron in VTM and include the Lac Doré Project adjacent to Blackrock Metals Inc. and the Iron-T Project near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.


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