Vanadium One Energy Corp. (TSXV:VONE) (the “Company”), is pleased to announce the commencement of its Phase 2B drilling campaign at its Mont Sorcier Vanadium-Magnetite Project.
Vanadium One Energy Corp. (TSXV:VONE) (the “Company”), is pleased to announce the commencement of its Phase 2B drilling campaign at its Mont Sorcier Vanadium-Magnetite Project. The drill rig was mobilized on September 10, 2018 and drilling began on September 11, 2018. Our Phase 2B plan is targeting approximately 2,000 meters of drilling in 10 drill holes, with each hole to average approximately 200 meters in length.
The objective for Phase 2B is to continue drilling in the South Zone, between historical sections 52E and 68E. Our goal is to complete and extend drilling at 45° to 60° drill angles across the 150 meter thick iron formation, on a 100 meter spacing grid. Phase 2B will complete the drilling program recommended in our NI 43-101 technical report dated October 29th, 2016 (available on SEDAR).
John Priestner, President and Chief Executive Officer, said, “We have had two very successful drilling campaigns so far, demonstrating the widespread correlation to the mineralization reported in the historical records. Our goal is to confirm that our continuing results are consistent with the historical records and to deliver a NI 43-101 compliant mineral resource estimate in the first quarter of 2019.”
As in our previous two drilling campaigns, the drilling contract was awarded to Chibougamau Diamond Drilling Ltd. and calls for ten (10) new NQ sized drill holes. Drilling is expected to be completed over the next two weeks with core logging, cutting and sampling to be completed at the Vanadium One Core Shack, located in Chibougamau, shortly thereafter. Core samples will be sent regularly to ACT Laboratories during this period of logging and assessment.
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 Vanadium-Magnetite Project as defined under National Instrument 43-101.
About Vanadium One Energy Corp.:
Vanadium One Energy Corp. is a mineral exploration and development company. Its registered office is located in downtown Toronto, Canada, with its operational office located in Burlington, Ontario, Canada. The Company is focused on developing exploration projects that reside within the “Strategic Minerals” domain, as defined by the USGS. Our goal is to ascertain the mineralogical and metallurgical characteristics of these strategic minerals within our projects, define the extent of the resource on each project and to demonstrate the economic viability of extraction. It is the intent of the Company to become an integral part of the supply chain for the traditional, and still expanding, HSLA steel industry and to gain its share of the new, and burgeoning, battery storage technology space.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
W. John Priestner
President and Chief Executive Officer
The Vanadium One Energy team invites the public to visit our website for further information about the company at www.vanadiumone.com
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.