(TSXV: VRB; US-OTC: APAFF) has released the first resource estimate for the Main zone at its wholly-owned Lac Dore vanadium project in northern Quebec, 27 km east-southeast of Chibougamau.
“Our first mineral estimate exceeded our expectations and shows that Lac Dore is one of the largest and highest-grade vanadium resources in North America,” Adriaan Bakker, VanadiumCorp’s president and chief executive, said in an interview.
VanadiumCorp plans to commence a prefeasibility study by year-end and complete it in the first quarter of 2021.
Lac Dore contains measured and indicated resources of 214.93 million tonnes grading 0.4% vanadium pentoxide (V2
), 27.1% iron, 7.1% titanium dioxide (TiO2
), and 24.6% magnetite for 2.12 billion contained lb. contained V2
, 58.3 million tonnes of iron, and 15.2 million tonnes of TiO2.
Inferred resources add 86.91 million tonnes grading 0.4% V2
, 28% iron, 7.6% TiO2
, and 25.9% magnetite for 850 million contained lb. V2
, 24.4 million tonnes of iron, and 6.6 million tonnes of TiO2
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