Alix Enters Into Property Option Agreement To Joint Venture Up To 60% Of Vanadiumcorp’s Iron-T Vanadium Project

- July 6th, 2017

VanadiumCorp Resource (TSX-V: “VRB”) (the “Company”) is pleased to announce that it has entered into a Mineral Property Option Agreement dated June 27th (the “Option Agreement”) with ALIX Resources Corp. (“Alix”) (AIX-TSX:V) (37N–FRANKFURT) for Alix to joint venture up to an 60% interest in the Iron-T Vanadium Project (the “Property”) which spans 3,500 hectares and …

VanadiumCorp Resource (TSX-V: “VRB”) (the “Company”) is pleased to announce that it has entered into a Mineral Property Option Agreement dated June 27th (the “Option Agreement”) with ALIX Resources Corp. (“Alix”) (AIX-TSX:V) (37N–FRANKFURT) for Alix to joint venture up to an 60% interest in the Iron-T Vanadium Project (the “Property”) which spans 3,500 hectares and encompasses an NI 43-101 vanadium resource adjacent to the mining center of Matagami, Quebec (the “Transaction”).
Located 350km west of the VanadiumCorp Lac Dore Vanadium Project, the Iron-T Vanadium Project encompasses a current NI 43-101 VTM resource, titled the “Genesis Zone” measures 14,376,000 tonnes inferred at 0.42% V2O5*. VTM mineralization is at surface, open at depth and along strike.
Adriaan Bakker, CEO of VanadiumCorp stated:

“Alix shares a similar vision of a bright future in the vanadium and energy storage industries. Partnership on this exciting project will assist both companies build value for their shareholders.”

VanadiumCorp is developing new processing technology for efficient and carbon free direct recovery of vanadiferous titanomagnetite “VTM” into vanadium electrolyte and other vanadium, iron and titanium products without slagging, smelting and roasting and it is understood Alix will have access to this technology as it pertains to the Iron-T Vanadium Project.
Trial production of iron, titanium and vanadium directly from VRB’s Lac Dore VTM concentrate in Phase II development of Vanadiumcorp-Electrochem Technology has recently commenced.
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