VANADIUM: Maiden inferred resource for Lac Dore deposit

QUEBEC – VanadiumCorp Resource of Vancouver has released the first 43-101-compliant inferred resource for its Lac Dore vanadium project 70 km southeast of Chibougamau.

The inferred resource is estimated to be 99.1 million tonnes grading 0.43% V₂O₅. The company says the resource represents 26.1 million tonnes of magnetite concentrate grading 1.08% recoverable vanadium oxide. VanadiumCorp made its estimate based on assays results from the magnetite concentrate by Davis tube testing, rather on head grade assays. A recovery factor of 95% was used for the hydrometallurgical process, according to historical testing, but no recovery was factored in for magnetite concentration since calculation is made directly from concentrates. An overall 66.6% recovery on head grade was calculated back. In completing the report, adjustment of the pit was made to increase pit optimization and accuracy.

The 99.1-million-tonne figure was based on a market price for vanadium oxide of US$5.50 per lb. The number is variable if the price is adjusted down or up.

The 43-101 report may be read in its entirety on SEDAR. Click here to go to the SEDAR search page.