Vanadium One Continues to Report Strong Iron and Vanadium Grades at Mont Sorcier
"244 meters grading 60.5% Fe and 0.63% Vanadium Pentoxide"
TORONTO, ON / ACCESSWIRE / February 7, 2019 / Vanadium One Energy Corp. (the "Company") (TSXV:VONE), is pleased to release assay results from the first 8 holes of its 2018 fall drilling program at its 100% owned Mont Sorcier Project, near Chibougamau, Quebec. Drilling intersected significant continuous mineralization throughout each hole, with Hole MSN-18-02, one of the first four holes to be drilled in the North Zone, returning a continuous wide mineralized intersection of 244 meters grading 60.5% Fe and 0.63% Vanadium Pentoxide (V2O5), using the Davis Tube Test (DTT).
Furthermore the average content of Vanadium Pentoxide (V2O5) in magnetite concentrate is 0.53% with an average Iron (Fe) content of 62.3% across 1,037 meters of drill core samples, as shown in Table 1. The vanadium pentoxide grade profile of these intersections compares favorably with historical grades published by Campbell Chibougamau Mines Ltd. in 1974, and also with results from the Company's drill results published in 2017.
Martin Walter, CEO, said, "Our results continue to demonstrate wide zones of Fe and V205 mineralization within the deposit with continuous favourable grades of Iron and Vanadium. We are particularly encouraged by the higher than expected grade of Vanadium Pentoxide found in our initial drill holes in the North Zone. Given that this is our first ever drilling program in the North Zone, these results exceeded our expectations."
Table 1: List of Drill Intersections - 2018 Fall Drill Program (Lengths: meters, Grades: %)
The Company drilled a total of 17 new holes between September and December, 2018, adding 13 holes in the South Zone and completing 4 holes in the North Zone. Drilling continued eastward in the South Zone at either 100 or 200 meter line spacings (MSS-18-26 to MSS-18-28). Drilling concluded with 4 new drill holes located in the North Zone (MSN-18-01 to MSN-18-04), along strike and on approximately 500 meter line spacing. Drill hole locations are found in Figure 1.
Figure 1: Map showing Drill Hole Locations on the 2010 Mag Survey at Mont Sorcier Project
(To view the full-size image, please click here)
A total of 1,171 core samples were delivered to SGS in Val d'Or, from November through December, 2018, and SGS began delivering assay results late December, 2018. Each sample is assayed twice using XRF technology. Rock (Head) samples are initially crushed and assayed. Each sample then undergoes laboratory scale Davis Tube Testing (DTT) which produces a magnetite concentrate by removing non-magnetic material. The upgraded magnetite concentrate is then re-assayed for its Iron and Vanadium content and the Company reports these assay grades.
The Mont Sorcier Project is a bulk tonnage magnetite iron ore and vanadium deposit, with very low titanium content, located near the northern Quebec mining town of Chibougamau. The project is comprised of 37 key mineral claims covering approximately 1,910 Ha (4,797.4 acres), with an historical resource of 273 million tons as published in 1974 by Campbell Chibougamau Mines Ltd.
The technical information contained in this news release has been reviewed and approved by Pierre-Jean Lafleur, P.Eng. (OIQ), who is a Qualified Person with respect to the Company's Mont Sorcier Project as defined under National Instrument 43-101.
About Vanadium One Energy Corp.:
Vanadium One Energy Corp. is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing the Mont Sorcier Magnetite Iron Ore and Vanadium Project, in Chibougamau, Quebec. The goal is to define the extent of this resource and demonstrate its economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
Martin Walter, CEO
Tel: 416-599-8547
Rodney Ireland, Investor Relations
Tel: 416-599-8547
Cautionary Note Regarding Forward-Looking Statements:
Neither 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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
SOURCE: Vanadium One Energy Corp.