A Globally Significant Vanadium Resource in Québec, Canada
Our wholly-owned Lac Doré project encompasses a strategic undeveloped vanadium resource hosted in iron & titanium bearing titanomagnetite. The resource is ideally located and accessible just 27 kilometres from the mining city of Chibougamau in the geopolitically stable, safe, and mining-friendly jurisdiction of Québec, Canada. The Lac Doré resource represents good potential for future development and strategy for North America as it is one of the few vanadium resources tested successfully for meeting the requirements of quality for vanadium-based energy storage.
What Sets Us Apart
GRADE
One of the Highest
Relevant section of resource grading 1.4% Vanadium Pentoxide in magnetite concentrate
SIZE
One of the Largest
Globally significant vanadiferous titanomagnetite
METALLURGY
Exceptional Quality
Low impurities such as silica and low oxidation enable higher yield magnetite concentrates
“NI 43-101” VTM Resource
The NI 43-101 Technical Report was made possible thanks to local communities and world-class vanadium and mining expertise. With the highest regard for quality, responsibility, safety and sustainability, VanadiumCorp completed a successful drill program, testing campaign, and mineral resource estimate that formed the basis for the Technical Report. The drill campaign was designed by mining industry consultants CSA Global of Vancouver and InnovExplo from Val-d’Or, Québec. The exploration program was being managed by InnovExplo, under the supervision of the Table jamésienne de Concertation Minière (TJCM) of Chibougamau, northern Québec, a non-profit regional development organization that provides on-demand contractor monitoring, quality control, and technical support services to mining companies active in Eeyou Istchee James-Bay territory. The Company was proud to select Miikan Drilling Ltd of Chibougamau, northern Québec, a joint venture between Chibougamau Diamond Drilling Ltd of Chibougamau, Eskan Company of Mistissini, and Nimsken Corp. of Ouje-Bougoumou, northern Québec. Drill core samples (half-core) were submitted to SGS Canada Inc.’s facilities in Val d’Or and Quebec City, Quebec for preparation. The entire sample was dried as required and crushed to 75% passing 2 mm. A 1000-1500 g subsample is then split out and pulverized to 85% passing 75 μm and ~150 g subsample taken for head assays. Samples were then shipped to SGS Canada Inc.’s facility at Lakefield, Ontario for Whole Rock Analysis (WRA) performed by X-Ray Fluorescence spectroscopy (XRF). The SGS facilities are ISO/IEC 17025 standard certified for the methods used, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The suite of elements analyzed includes SiO2, Al2O3, Fe2O3, MgO, CaO, Na2O, K2O, TiO2, P2O5, MnO, Cr2O3, V2O5, and Loss on Ignition (LOI). Strict QA/QC protocols designed by InnovExplo and CSA Global was implemented to ensure the assay results are relevant, reliable and in accordance with industry standards, CIM Mineral Exploration Best Practice Guidelines (CIM Exploration Guidelines, 2018) and National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) disclosure requirements.
A special thanks for the overwhelming support of the local city of Chibougamau, Chapais, and the Cree First Nation.
Mineral Resource Statement at Lac Doré in In-Situ Mineralization
EFFECTIVE OCTOBER 27, 2020
| Category | Mineralized material (Mt) | V2O5 grade (%) | Fe grade (%) | TiO2 grade (%) | Magnetite (%) | V2O5 (tonnes) | Fe (Mt) | TiO2 (Mt) | V2O5 contained (million lbs) |
|---|---|---|---|---|---|---|---|---|---|
| Measured (M) | 23.98 | 0.5 | 33.7 | 9.9 | 34.5 | 128000 | 8.1 | 2.4 | 280 |
| Indicated(I) | 190.96 | 0.4 | 26.3 | 6.7 | 23.4 | 837000 | 50.2 | 12.8 | 1850 |
| M+I | 214.93 | 0.4 | 27.1 | 7.1 | 24.6 | 965000 | 58.3 | 15.2 | 2120 |
| Inferred | 86.91 | 0.4 | 28 | 7.6 | 25.9 | 387000 | 24.4 | 6.6 | 850 |
Mineral Resource Statement at Lac Doré in Magnetite Concentrate
EFFECTIVE OCTOBER 27, 2020
| Category | Magnetite conc. (Mt) | V2O5 grade in conc. (%) | Fe grade in conc. (%) | TiO2 grade in conc. (%) | V2O5 in conc. (tonnes) | Fe in conc. (Mt) | TiO2 in conc. (Mt) | V2O5 contained in conc. (million lbs) |
|---|---|---|---|---|---|---|---|---|
| Measured(M) | 8.27 | 1.2 | 62 | 9.4 | 100000 | 5.1 | 0.8 | 220 |
| Indicated(I) | 44.7 | 1.3 | 62 | 8.5 | 578000 | 27.7 | 3.8 | 1270 |
| M+I | 52.82 | 1.3 | 62 | 8.7 | 678000 | 32.8 | 4.6 | 1490 |
| Inferred | 22.55 | 1.2 | 62 | 9.2 | 277000 | 14 | 2.1 | 610 |
Lac Doré Project Highlights
| Ownership | 100% |
|---|---|
| Location | Chibougamau, Quebec, Canada |
| Commodities | Vanadium, Titanium and Iron |
| Access | 27 km from mining city of Chibougamau, at surface mineralization |
| Metallurgy | Favorable: Exceptionally low impurities facilitate high recovery of vanadium |
| Orientation | High grade stratigraphic units crop at surface and additional units extend at depth and along strike |
| Regional Support | Mining friendly local communities and Cree First Nations, in the Eeyou Istchee James Bay Territory of Quebec, Canada |
| Proximity to similar resources | Adjacent to mine permitted Blackrock Metals |
| Property Size | Over 45 square km |
| Infrastructure | Nearby road, rail, 161Kv power, workforce, water and airport |
| Ground and airborne geophysics | Confirms largest VTM footprint in the region |
| "Made in Canada" objective | Local transformation of all value add products in Chibougamau Quebec creating a new green economy |
| Sustainable development vision | Green mine, Green Recovery Process for Green Batteries |
| NI 43-101 Technical Report | Click here to Download the PDF... |
