NWN - VanadiumCorp Announces Commencement of Lac Dore Metallurgical Bulk Sampling
(TheNewswire)
Vancouver, British Columbia – TheNewswire - October 4, 2022 – VanadiumCorp ResourceInc. (TSXV:VRB) (OTC:APAFF) (FSE:NWN) (the "Company")is pleased to announce mobilization to excavate vanadiferoustitanomagnetite from historical trenches on the Lac Dore property,Quebec (the "Property"). This bulk sampling commences thefirst large tonnage test of the quality of the Lac Dore depositperformed by the Company.
Definition diamond-drilling and resampling surface trenching on theProperty by the Company culminated in preparing a Technical Report andMineral Resource Estimate by CSA Global Consultants Canada Limited("CSA"), with Dr. Luke Longridge, P. Geo. as the leadconsultant. CSA produced a Technical Report titled "Lac DoréProject, Chibougamau, Québec, Canada, December 10, 2020." Thefull technical report is available on the Company's website and SEDAR.Longridge recommended a program of step-out diamond drilling andmetallurgical testing.
Closing the first tranche of our new financing allows the restart ofcrucial technical work. Led by VanadiumCorp Director Mr. GillesDupuis, P.Eng., the pending fieldwork will confirm the location of theLac Dore deposit in bare rock exposures in historical trenches andapply for permits to extract up to 20 tonnes of representative massivetitanomagnetite samples.
With the bulk samples, the Company plans to promptly execute amultifaceted testing program on its Lac Dore deposit. Large grindingand novel mineral separation tests will be performed in Q4 2022 and Q12023. An estimated 5 tonnes or more of high-quality concentrates fromthe bulk samples will feed new hydrometallurgical tests in January2023. The program aims to improve the yields and quality of theoutputs from its VEPT process and investigate cost-saving measures,such as recycling process acids. Gilles Dupuis, P. Eng. and GillesChampagne, Ph.D., our CTO, will collaborate in several Quebec-basedprograms to improve our metallurgical extraction technologies andpilot the manufacture of high-purity vanadium electrolytes from ourconcentrates.
VanadiumCorp owns 100% of a newly patented hydrometallurgical process,VEPT (the "VanadiumCorp, Electrochem, Process Technology"),invented by Dr. Francois Cardarelli consists of digesting vanadiferousfeedstocks into concentrated sulfuric acid. The key to the adequatesupply of vanadium and titanium critical metals will be adoptingalternate extractive technologies such as this new hydrometallurgicalprocess.
About VanadiumCorp
VanadiumCorp Resource Inc. is a mineral exploration company located inVancouver, Canada, with 100% ownership of two strategic vanadium,titanium, and iron properties in Quebec. The Iron T is near Matagami,and the Company's flagship Lac Dore property is near Chibougamau. Acurrent technical report (Longridge, 2020) on the Lac Dore depositdescribes Measured and Indicated Mineral Resources of 215 milliontonnes containing 53 million tonnes of recoverable vanadiferoustitanomagnetite. The titanomagnetite concentrate is estimated to have1.49 billion pounds of V2O5 (not factored for recoveries fromtitanomagnetite).
VanadiumCorp also owns 100% of thenewly patented hydrometallurgical process, VEPT (the"VanadiumCorp, Electrochem, Process Technology"), inventedby Dr. Francois Cardarelli, that consists of digesting vanadiferousfeedstocks into concentrated sulfuric acid. The technology addressesthe recovery of vanadium, titanium, ferrous sulphate, and silicaproducts from mineral concentrate feedstocks, such as titanomagnetite.The VEPT process is also valid for recovering vanadium from industrialresidues, such as fly ash from power plants and slags from oxygenblast furnaces (BOF-slags). Dr. Cardarelli's sulphuric acid process isnovel because it adapts a proven and widely-used industrial process toextract valuable metals from titanomagnetite and industrial residues.
Mr. Paul McGuigan, P. Geo., is a "Qualified Person" (asdefined in NI 43-101 -Standards for Disclosure for Mineral Projects)and CEO and Director of the Company has reviewed and approved thetechnical disclosures in this news release.
ON BEHALF OF THE BOARD OFVANADIUMCORP
Paul McGuigan, P. Geo
Director, Chief Executive Officer
Website: www.vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider(as defined in the policies of the TSX Venture Exchange) acceptresponsibility for the adequacy or accuracy of this release.
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