Vanadium One Energy Corp. (TSXV:VONE), is pleased to release additional drilling results from its Mont Sorcier Vanadium Magnetite deposit.
Vanadium One Energy Corp. (TSXV:VONE), is pleased to release additional drilling results from its Mont Sorcier Vanadium Magnetite deposit. The Mont Sorcier deposit is a bulk tonnage, high grade, magnetite vanadium iron ore project. It is located close to world class infrastructure (power, roads, rail, and shipping) near the northern Quebec town of Chibougamau. Chibougamau is part of the region included in the “Plan Nord” economic development initiative by the Government of Quebec. The Mont Sorcier property is easy to access by paved Highway 167, less than 10 minutes from town. Local logging activity by the wood industry in town has added truck roads to provide access to every corner of the property. The logistics are exceptional to start a mine at Mont Sorcier.
Starting in 2017, VONE began drilling on 5 sections at 100-meter spacing, equivalent to about 600 meters continuous drilling, on strike, on the South Zone iron formation. Phase 1, completed during the summer of 2017, drilled about 100 meters deep at 45° south using 7 drill holes for a total of 1,002 metres. Drill hole MSS-17-06 was used for metallurgical testing (pending final report) and MSS-17-07 was saved for additional metallurgical testing. Phase 2A backed up to drill 200 meters deep and north, on similar sections to Phase 1, for a total of 1,857 meters in 8 holes.
All drill holes in Phase 2A intersected significant continuous mineralisation. V2O5 in DTMC averages from 0.56% in MSS-17-15 over 109.7 meters to 0.66% in MSS-17-11 over 144.3 meters, including 0.59% over 209.3 meters in hole MSS-17-08. See Table 1 for a complete list of results for Phase 2A. Note that some drill holes may start or end in the iron formation due to its width and vertical dip. The average grades of these intersections are comparable to historical grades by Campbell in 1974 (0.68% V2O5 in DTMC). V2O5 in DTMC from holes MSS-17-10 through MSS-17-15 over numerous 11 to 20 meter intervals showed grades averaging 0.90% to 1.09% and are found in Table 2. (Read VONE Drilling Guidelines below for a definition of DTMC – Davis Tube Magnetite Concentrate.)
Table 1: List of Drill Intersections obtained by VONE in Phase 2A
|Rock Assays (Head)||DTMC|
Upcoming Phase 2B is planned for 2,000 meters of additional drilling to complete the 100-meter spaced drill grid, started in 2017, with drilling to continue on new sections East and West of current VONE drilling sections. This program will complete the 100-meter spacing drill grid on 100-meter sections drilled between historical sections 52E and 68E. When Phase 2B is completed, VONE will continue to expand the South Zone along strike between sections 44E and 84E. VONE is also planning to begin testing on the North Zone some time later in 2018.
Note to help readers not familiar with iron ore assay results: The Mont Sorcier iron formation is massive magnetite with very low titanium (not reported in the Tables; about 1% in rock or magnetite concentrate) and high serpentinization marked by MgO as reported in Table 1. DTMC in the tables means Davis Tube Magnetite Concentrate. The Davis Tube is a magnetic coil on a glass tube used at the laboratory to separate a 30 gram standard portion of the sample into its magnetic and non-magnetic portion. The difference in weight of the split portions is reported as %Mag in the rock. The resulting magnetite concentrate may be as pure as the assay shows in DTMC, which can be directly correlated to recovery in large scale processing. VONE requested the same XRF 8 elements plus V2O5 for the rock and DTMC. Iron in the rock assay (Fe2O3(T)) is distributed between various minerals, including magnetite. It is mostly magnetite in the DTMC. Davis Tube is time consuming and costly. It is usually associated with double or triple assaying for rock (head), magnetite concentrates and some time tails to check recoveries more accurately. VONE uses double assaying (no tail assay). For that reason, the Satmagan test is also used in iron ore. It is faster and cheaper than Davis Tube. Satmagan is an estimate of the magnetite content in the rock by measuring the (calibrated) magnetic pull from a small standard size puck of pulverized sample. The difference between Satmagan and DTMC is that Satmagan is a “pure” measure of magnetism, but not a measure of ferosilicates. DTMC never has perfectly pure magnetite. In addition, the assay of Fe2O3(T) must be differentiated from the 65% Fe purity of iron ore concentrate often used in marketing. Pure Magnetite is Fe3O4 and it contains 72% Fe. So, 65% Fe concentrate is “pure” magnetite or hematite (Fe2O3). The “T” in Fe2O3(T) stands for Total as in all minerals containing some iron (Fe).
Table 2: List of Drill Intersections obtained by VONE in Phase 2A which are above 1% V2O5 in DTMC
|Rock Assays (Head)||DTMC|
Historical data at Mont Sorcier is exceptional. VONE uses it to plan its own work to achieve maximum efficiency. For example, VONE drill holes and resulting assays were taken from the Mont Sorcier South Zone where historical data indicate a higher vanadium grade in the magnetite near section 60E. VONE results are comparable to Campbell historical results so far. Historic drilling in 1966, as reported with vanadium in 1975, and more specifically, drill holes FS-45 and FS-51, indicated grades up to 1% V2O5 in the magnetite concentrates using Davis Tube. See the high grade intersections by VONE in Table 2 above, which continue to confirm the historical data.
In 1966, Campbell Resources, a world class mining company operating copper and gold mines in Chibougamau, initiated the development of the Mont Sorcier iron ore deposit as the Ferchib Project. The iron deposit outcrops. A simple MAG survey and good geological mapping made drill planning easy. Campbell drilled 69 vertical holes on 20 sections in the deposit to outline 273.7 million short tons (248.3 metric tonnes) in two major massive magnetite zones about 2.5 kilometers long each on strike, by 200 meters wide and 200 meters deep, dipping vertically.
In 1973, Campbell re-assayed all the magnetite concentrate (using Davis Tube) after vanadium was discovered in the deposit in 1972. In 1974, Campbell published a new feasibility study to include vanadium using the same two open pits as in 1966.
Note that titanium is exceptionally low grade (approximately 1% TiO2) at Mont Sorcier. Titanium is typically 10 times, or more, higher in this type of deposit. Titanium is known to be detrimental to both vanadium recovery and the magnetite concentrate’s marketable value.
In 1975, the project development was interrupted, like many others at that time, by the oil crisis of the 1970’s leading to the formation of OPEC. Today, the value of vanadium at Mont Sorcier supersedes iron ore in current market conditions.
NOTE: The mineral resources cited in this news release are historical. They are not a current mineral resource under National Instrument 43-101 regulations, is not being considered by VONE as current resources or reserves, has not been reviewed by a VONE geologist and should not be relied upon.
The Mont Sorcier project is comprised of 57 key mineral claims covering approximately 1,910 Ha (4,797.4 acres).
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 and development company with its registered office in downtown Toronto, Canada, and its operational office located in Burlington, Ontario, Canada. The Company is focused on developing exploration projects that reside in the “Strategic Minerals” domain, as defined by the USGS. Our goal is to ascertain the metallurgical characteristics of these strategic minerals on 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, but still expanding, HSLA steel industry and to gain its share of the new, and burgeoning, battery storage technology space. Vanadium One Energy Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
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
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