First Vanadium drills 41.15 m of 0.84% V2O5 at Carlin
FIRST VANADIUM Corp. (formerly Cornerstone Metals Inc .) has released results from an additional 17 confirmation drill holes from within and along a 1,220-metre corridor of mineralization at its Carlin vanadium project located six miles south of Carlin, Nev. Three highlight intervals from this drilling encountered 41.15 metres (135 feet) grading 0.84 per cent vanadium, 38.1 metres (125 feet) grading 0.75 per cent V2O5 and 27.43 m (90 ft) grading 0.84 per cent V2O5. The average grade of these 17 holes is 0.54 per cent V2O5. The average estimated true thickness of the zone in these 17 holes is 33.7 m (110 ft). The highlights of the 17 holes are shown in the attached table.. First Vanadium president and chief executive officer Paul Cowley stated: “We continue to be pleased with these drill results that reinforce continuity of a thick, shallow, near horizontal bed of high-grade vanadium mineralization, correlating well to the nearest previous drill holes and improving drill density. Remaining drill assay results from an additional 25 exploratory holes are expected to be released next week.”
(See FVAN Table 1 on page 7)
A map has been placed on the company website to demonstrate the location of these
Four of the holes, RCC1832, RCC18-43, RCC18-44 and RCC18-67, ended in mineralization. Holes RCC18-32, RCC18-43 and RCC18-67 also returned 10 m (30 ft) to 25 m (75 ft) thick, near-surface, flat-lying mineralized intervals above the main high-grade zone that graded between 0.21 per cent and 0.26 per cent V2O5. Thirteen of the 17 holes were angle holes; adjusted and estimated true thickness (est. true) of their intercepts are displayed in the attached table. The drill intercepts of the vertical holes are considered true thickness.
The Carlin vanadium deposit is considered the largest, highest-grade primary vanadium deposit in North America.
Vanadium is growing in importance for key industrial manufacturing sectors, most notably steel and renewable energy. Today, more than 90 per cent of the world’s vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5 per cent of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.
About First Vanadium Corp.
First Vanadium has an option to earn a 100-per-cent interest in the Carlin vanadium project, located in Elko county six miles south from the town of Carlin, Nev., on Highway I-80. The Carlin vanadium project hosts the Carlin vanadium deposit, which is flat to shallow dipping and at shallow depths, zero to 60 metres (zero to 200 feet) below surface. Technical disclosure in this news release has been reviewed and approved by Paul Cowley, PGeo, a qualified person as defined by NI 43-101 and the president and chief executive officer of the company.
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John David Anderson, Paul Stewart Cowley, Jason Alexander Wolfgang Nickel, Frederick James Sveinson, Radomir Vukcevic
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