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Positive Preliminary Economic Assessment Achieved for the Lac Dore Vanadium Project, Chibougamau, Quebec
Nov. 16, 2017 09:10AM PST
Battery MetalsVanadiumCorp Resource (TSX-V: “VRB”) (the “Company”) is pleased to announce the positive findings of an independent Preliminary Economic Assessment (‘PEA’) for its 100%-owned Lac Dore Vanadium Project situated 30 kilometers southeast of Chibougamau, Quebec. The project is to produce vanadiferous titanomagnetite (VTM, magnetite) concentrate from the Lac Doré deposit, which will either be processed using the …
VanadiumCorp Resource (TSX-V: “VRB”) (the “Company”) is pleased to announce the positive findings of an independent Preliminary Economic Assessment (‘PEA’) for its 100%-owned Lac Dore Vanadium Project situated 30 kilometers southeast of Chibougamau, Quebec. The project is to produce vanadiferous titanomagnetite (VTM, magnetite) concentrate from the Lac Doré deposit, which will either be processed using the Company’s VanadiumCorp-Electrochem technology or marketed to third parties.
Adriaan Bakker, VanadiumCorp’s President and Chief Executive Officer commented:
“We are very pleased with the results of this Preliminary Economic Assessment, which clearly establishes Lac Dore as one of the premier undeveloped vanadium resources, located in a favorable jurisdiction for mining development.
The PEA illustrates robust economics and marks a significant milestone for VanadiumCorp to continue to advance Lac Dore towards production. The base case shows that Lac Dore could generate more than CDN $1.4 Billion in pre-tax net cash flows and deliver life-of-mine, after-tax net present value of CDN$ 814 million.