Vanadium One Reports Further Drilling Results from Its Mont Sorcier Iron and Vanadium Project
TSX VENTURE: VONE
"Concentrate grading 64.9% Iron and 0.63% Vanadium Pentoxide across 97.4 meters from Davis Tube Analysis"
TORONTO, ON / ACCESSWIRE / February 28, 2019 / Vanadium One Energy Corp. (the "Company") (TSXV:VONE), is pleased to release a second round of assay results for 6 holes from its 2018 fall drilling program at its 100% owned Mont Sorcier Project, near Chibougamau, Quebec. These results follow the 8 holes reported on February 7th, 2019. Drilling intersected significant continuous mineralization throughout each hole, with Hole MSN-18-04, one of four holes drilled in the North Zone, returning an intersection of 165 meters of Iron formation, including a concentrate grading 62.4% Fe and 0.64% Vanadium Pentoxide (V2O5) over 36 meters, using the Davis Tube Test (DTT). The average content of Vanadium Pentoxide (V2O5) in magnetite concentrate prepared through Davis Tube analysis is 0.53% with an average Iron (Fe) content of 62.5% across 748 meters of drill core composite samples, as shown in Table 1.
Martin Walter, CEO, said, "Our results continue to demonstrate wide zones of Fe and V205 mineralization within the two deposits, named the North and South Zones. We are particularly encouraged by the persistent wide bands of higher grade of Vanadium Pentoxide found inside the magnetite iron formation. This strengthens our opinion that the vanadium content is an important economic credit in addition to the value of the Iron, when considering future economic studies conducted on the project."
Table 1: List of Drill Intersections - 2018 Fall Drill Program (Lengths: downhole meters, Grades: %)
The Company drilled a total of 17 new holes between September and December 2018, adding 13 holes in the South Zone and completing 4 holes in the North Zone. Drilling continued eastward in the South Zone at either 100 or 200 meter line spacings (MSS-18-26 to MSS-18-28). Drilling concluded with 4 new drill holes located in the North Zone (MSN-18-01 to MSN-18-04), along strike and on approximately 500 meter line spacing. The North and South Zone dip steeply to the north and sometimes south. Campbell drilled vertical holes downdip that often started and ended in the iron formation. VONE drilled at 45° and 60° both north and south across the iron formation. It also often started and ended drill holes in the iron formation. Drill hole locations are found a map on our web site at https://www.vanadiumone.com/.
A total of 1,171 core samples up to 4 meters in length each were delivered to SGS Laboratories in Val d'Or, from November through December, 2018. Once at SGS the rock (Head) samples are initially crushed and assayed with XRF Technology plus Satmagan. Each sample then undergoes Davis Tube Testing (DTT), which removes the magnetic fraction from the non-magnetic material, to produce a magnetite concentrate. The magnetite concentrate is then assayed to measure its Iron and Vanadium content recovered. The Company reports both sets of assay grades.
The total-iron assay (%Fe2O3) reported is split between magnetic commercial grade iron oxide and other non-magnetic minerals bearing iron using Satmagan and/or Davis Tube. Satmagan measures magnetic iron content with a magnet. DTT is a small-scale laboratory magnetic separator designed to measure the amount and quality of potentially commercial iron content concentrate of drill core samples. DTT results can vary depending on grinding. The Company used grinding at 85% passing 75 microns (200 mesh) which is exploration standard. Previous owner Campbell, in 1974, reported its DTT using 95% passing 38 microns (325 mesh), which is a Feasibility Study standard.
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 company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier Magnetite Iron Ore and Vanadium Project. The Mont Sorcier Project is a bulk tonnage magnetite iron ore and vanadium deposit, with very low titanium content, located near the northern Quebec mining town of Chibougamau, providing access to world class infrastructure including rail, shipping and power.
ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.
Martin Walter, CEO
Rodney Ireland, Investor Relations
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.