Vanadium One Iron

Developing Iron Ore Deposit with Substantial Vanadium in Quebec

This Vanadium One Iron profile is part of a paid investor education campaign.*

Vanadium One Iron Overview

Vanadium One Iron Corp. (TSXV:VONE,FWB:9VR1) is a mineral exploration company focused on advancing its Mont Sorcier iron ore-vanadium project in Quebec, Canada to produce high-quality iron and vanadium products. According to the Fraser Institute, Quebec is a top mining jurisdiction in the world, offering mining companies access to world-class infrastructure such as low-cost hydropower, a skilled mining workforce and access to international markets.

Vanadium One Iron’s Mont Sorcier project is a bulk tonnage iron ore and vanadium deposit with low titanium content. Mont Sorcier’s unique low-titanium iron-vanadium deposit has the potential to produce an iron-vanadium concentrate for use directly in blast furnaces by existing Vanadium slag producers and in steel production.

The company recently released a maiden resource estimate for the property in June 2019. The report outlines an indicated resource of 35 million tonnes of magnetite concentrate grading 65.3 percent iron and 0.6 percent vanadium with an inferred resource of 178.3 million tonnes of magnetite concentrate grading 64.4 percent iron and 0.6 percent vanadium.

Moving forward, Vanadium One Iron intends to complete additional metallurgical testing, environmental baseline studies and a preliminary economic assessment (PEA) for Mont Sorcier. The company expects its PEA to outline an open pit mining operation with a conventional on-site crush, grind and magnetic separation plants. Vanadium One Iron believes that the property can support a production capacity of approximately 5 million tonnes grading 65 percent iron and 0.61 percent vanadium over a mine life of 25 years.

The property is approximately 25 kilometers from the CN Rail terminal, providing Vanadium One Iron direct access to deep water ports and the international markets. Vanadium One Iron intends to utilize its strategic location to the CN Rail system to ship its iron ore to blast furnaces for further refinement once Mont Sorcier is in production. After the iron ore is processed, the company intends to retain the vanadium produced as a by-product, giving the company an additional revenue stream.

Vanadium One Iron’s management team has a wealth of experience building and adding value to mining projects. The team’s expertise will help them push the Mont Sorcier project towards production. Management is also strategically aligned with its shareholders, holding over 18 percent of the company’s shares.

Vanadium One Iron Company Highlights

  • Located in Top Tier mining jurisdiction of Quebec, Canada.
  • Just 18 km from Chibougamau with access to low-cost hydropower and a skilled mining workforce.
  • Excellent infrastructure just 25 km from the CN Rail terminal by road, providing access to deep water ports and international markets.
  • Low-titanium content at Mont Sorcier has the potential to produce an iron-vanadium concentrate for use directly in blast furnaces by existing Vanadium slag producers and in steel production.
  • Vanadium One Iron’s maiden resource estimate outlines an indicated resource of 35 million tonnes of concentrate grading 65.3 percent iron and 0.6 percent vanadium with an inferred resource of 178.3 million tonnes of concentrate grading 64.4 percent iron and 0.6 percent vanadium.
  • A PEA is expected to be released by the end of 2019.
  • Additional metallurgical testing and environmental baseline studies are currently under development.
  • Vanadium One Iron’s management team and board of directors have experience in iron ore and vanadium deposit exploration, development and production.
  • Management and directors notably hold over 18 percent of shares.

Mont Sorcier

The 1,919-hectare Mont Sorcier iron ore-vanadium project is 18 kilometers east of Chibougamau, Quebec within the Abitibi region. The property resides 10 kilometers away from Highway 167, is accessible year-round via a network of gravel logging roads and has access to low-cost hydropower and a skilled mining workforce. Mont Sorcier is approximately 25 kilometers from the CN Rail terminal located north of Chibougamau, providing Vanadium One Iron access to deep water ports and the international iron ore and vanadium markets.

2019 resource estimate

After completing its 2017 and 2018 drill program at the North and South zones, Vanadium One Iron released a resource estimate that significantly increased the indicated and inferred resources when compared to Campbell Resources’ 1974 mineral reserve estimate1.

vanadium one iron 43 101 resource estimate

Metallurgical work performed by Campbell Resources1 in the 1960s and 1970s demonstrated high-grade iron ore product (>65% Fe) is available at Mont Sorcier. Work is currently underway by Vanadium One Iron to confirm these results, compliant with NI 43-101 regulations.

1 Reserve estimates and metallurgy by Campbell Resources are historic and are not considered current by Vanadium One Iron as insufficient work has been completed at this time to satisfy the requirements of NI 43-101. These Results should not be relied on.

Exploration

Between 2017 and 2018, Vanadium One Iron has completed three drill programs on the North and South zones. Drilling has consistently intersected wide zones of mineralization. The best results at the South zone include 243 meters grading 65.2 percent iron and 0.5 percent vanadium and 209.3 meters grading 62.9 percent iron and 0.59 percent vanadium. The North zone results include 282 meters grading 55.1 percent iron and 0.43 percent vanadium in addition to 244 meters grading 60.5 percent iron and 0.63 percent vanadium. To date, Vanadium One Iron’s results have been predictable and coincide with the historical data that has been compiled by Campbell Resources.

vanadium drilling

Moving forward

With a new resource in hand, Vanadium One Iron intends to shift its focus towards conducting additional metallurgical testing and completing its environmental baseline studies for the project. The company also expects to complete a PEA for Mont Sorcier Q4 2019.

The PEA is expected to outline an open pit mining operation for both the South and North zone deposits that will feature conventional on-site crush, grind and magnetic separation plants. Vanadium One Iron anticipates that the property will be able to support a production capacity of approximately 5 million tonnes grading 65 percent iron and 0.61 percent vanadium over a mine life of about 25 years. Vanadium One Iron plans to truck the iron ore to the CN Rail system, which has access to deep water ports and international markets, before being sent for further refinement in blast furnaces across the globe.

vanadium one iron forest

Vanadium One Iron Corp’s Management Team

Cliff Hale-Sanders — CEO and Director

Mr. Cliff Hale-Sanders is an entrepreneurial and driven mining executive, a co-founder of Ascendant Resources Inc in late 2016 and has over 20 years of capital markets experience as an Equity Mining Research Analyst. During his career, Mr. Hale-Sanders visited and evaluated numerous global mining development and production facilities to determine their investment potential. Mr. Hale-Sanders has a Masters’ degree in Business Administration from McMaster University, a Bachelor of Science degree in Geology and Chemistry from the University of Toronto and is a C.F.A Charter holder.

Ashley Martin — COO 

Mr. Ashley Martin joined the Company in 2018 as Vice President – Technical Services. He has now been promoted within the Company to the position of Chief Operating Officer. Mr. Martin brings over 13 years of mining construction and development experience to the Company. At Guyana Goldfields, he held various positions including Manager-Technical Services, Civil Works Manager and Construction Manager for the Aurora Gold Mine. He was Senior Project Manager at Treasury Metals and Manager of Business Development at Forrester Metals. Mr. Martin received his degree in Civil Engineering from Curtin University, in Western Australia.

Pierre-Jean Lafleur — VP, Exploration 

Mr. Lafleur is a professional engineer and qualified person (NI 43-101) specializing in mineral resource estimation, exploration and mining. He worked in Operations for various mining companies of over 15 years including Falconbridge (no Glencore) and has worked on Iron ore projects around the world, with a focus on those in the Chibougamau area and around Quebec.

Michael Skutezky — General Counsel and Corporate Secretary

Mr. Michael Skutezky has had a 30 year career in the financial sector in Canada including as Assistant General Counsel at the Royal Bank of Canada focused on International and Canadian Project financing based in Montreal and Toronto and as Senior Vice President Personal Trust, National Trust Company. He is Chairman of Rhodes Capital Corporation, a private Toronto based resource and technology focused merchant bank. Mr. Skutezky has been a founder in taking public and listing several TSX, TSX-V and CSE resource sector companies and has served as an officer, counsel and director of several private and public companies. He has been a member of the Canadian and International Bar Associations, the Law Society of Upper Canada and the Nova Scotia Barristers’ Association.

Vanadium One Iron Corp’s Board of Directors

Mark Brennan — Chairman

Mr. Brennan brings over 30 years of financing and operating experience in the mining industry. He is a founding partner and Executive Chairman of Ascendant Resources, former President and CEO of Sierra Metals, and Former President and CEO of Largo Resources where he acquired the Maracas Vanadium Project and advanced the project through maiden resource, definitive feasibility, project funding ($300 million), construction, and production.

Mitchell Kidd— Director

Mr. Kidd is a metallurgical engineer, business consultant and Lean Six Sigma practitioner with over 30 years of experience and Vanadium, Titanium, and Iron foundry operations. He has served on the boards of two industry producer and trade organizations.

Dennis Moore— Director

Mr. Moore is an exploration Geologist with 40 years of international experience. He is the President, CEO and founder of Fremont Gold Ltd. He was previously and Executive Director and former VP Exploration of Magellan Minerals Ltd. where he assembled a 200,000-hectare exploration portfolio in Brazil including Cuiu Cuiu and Tacntinzinho gold properties.

Casper Groenewald— Director

Mr. Groenewald has over 20 years of mineral processing experience in Africa and the Americas. He is the Senior Vice-President of DRA America and former Technical Director fro Largo Resources where he led the commissioning and optimization of its Vanadium processing facility in Brazil. He is the former Operations director at Minopex, where he managed the operation of five diamond mines, and has also worked for Vantech (Xstrata’s Vanadium division), Highveld Steel and Vanadium Corporation.

Martin Walter— Director

Mr. Walter has over 20 years of international experience in mineral and mine development as a consulting Geologist. He is the former CEO of Treasury Metals Inc., an Ontario junior gold mine developer, and is a director of Absolut Resources, Forrester Metals and Nubian Resources.

W. John Priestner — Director

Mr. Priestner is the former General Manager of US operations for Philip Environmental, where he was responsible for development and construction management of large waste-management facilities. He is a former professional football player in the NFL and CFL over eight seasons and served on boards for CFL Pension Advisory and Benefits Committee.


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