Vanadium One Continues to Report Positive Drilling Results at its Mont Sorcier Iron Ore Deposit
TSX VENTURE: VONE
TORONTO, ON / ACCESSWIRE / March 13, 2019 / Vanadium One Energy Corp. (the "Company") (TSXV:VONE), is pleased to release further assay results for 3 holes from its 2018 fall drilling program at its 100% owned Mont Sorcier Iron Ore Project, near Chibougamau, Quebec. The final 3 holes were drilled in the South Zone, and again, drilling intersected significant continuous mineralization throughout each hole, with Hole MSS-18-18 returning an intersection of 243 meters of concentrate grading 65.2% Fe and 0.50% Vanadium Pentoxide (V2O5) within the Iron formation, using the Davis Tube Test (DTT).
On average, across the three holes, the content of Vanadium Pentoxide (V2O5) in magnetite concentrate prepared through DTT analysis is 0.57%, with an average Iron (Fe) content of 64.5% across 548 meters of drill core. This includes composite sample peaks of up to 1.00% V2O5 over 40 meters in drill hole MSS-18-20, as shown in Table 1. At the Company's Mont Sorcier Project, higher grade zones of vanadium pentoxide are found regularly throughout the iron formation in both South and North Zones.
Martin Walter, CEO, said, "Our results continue to demonstrate wide zones of Fe and V2O5 mineralization within the two deposits, known as the North and South Zones. We are particularly encouraged by the persistent wide bands of higher-grade Vanadium Pentoxide found inside the magnetite iron formation. Again, 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: %)
|Area||2018 Mont Sorcier Drilling||Rock (Head)||DTT (concentrate)|
|Drill Hole||From||To||Length||SG||% Fe2O3||% V2O5||Satmagan||% TiO2||% Fe2O3||% V2O5||% Fe|
|South Zone Centre||MSS-18-18||27.0||270.0||243.0||3.1||34.8||0.23||21.6||1.29||93.2||0.50||65.2|
This is the third and final release of drilling results from the Company's 2018 Fall drilling program. Previous drilling results were released in two previous news releases on February 7th and February 28th respectively. The Company drilled a total of 17 holes between September and December 2018, adding 13 drill holes in the South Zone and completing 4 drill holes in the North Zone. Drill holes are angled at either 45° or 60° and drilled in either a north or south direction, across the east-west striking iron formation. Drill hole location details and maps can be found on our web site at www.vanadiumone.com.
Drill core samples up to 4 meters in length 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 as shown in Table 1.
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 separation analysis designed to measure the amount and quality of potentially commercial iron content concentrate in drill core samples. DTT results can vary depending on grinding. The Company used grinding at 85% passing 75 microns (200 mesh) which is an 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 excellent 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.