A Globally Significant Vanadium Project
The Lac Doré Vanadium property is located 27 km east-southeast from the city of Chibougamau, in Eeyou Istchee James Bay Territory, Northern Québec. The 2019 drill program targeted the Company’s Lac Doré Vanadium prospect where historical drilling and surface channel sampling conducted between 1958 and 2013 have revealed over 2 km long by 200 m wide and open at depth corridor hosting mutiple zones of vanadium-bearing vanadiferous(titano) magnetite “VTM” mineralization. The completed 2019 drill program was the largest conducted on the project since 1970. Assay results will target a resource statement and technical report in 2020. Lac Dore was a crown asset for over 50 years with various reports concluding exception recoveries and low impurities with pilot production of vanadium electrolyte tested in vanadium redox flow batteries by Sumitomo.
2019 Drill Program at Lac Doré Complete
Drill results are pending from as core logging and core sampling activities are now complete for our 2019 drill program. Multiple batches of samples have been expedited to SGS Canada Laboratories, an independent ISO 90001:2015 accredited laboratory facility located in Val-d’Or, Québec, for assaying and for selective Davis Tube testing. Strict QA/QC protocols for the 2019 drill program, designed by InnovExplo, are being implemented in accordance with industry standards to ensure that upcoming core assay results are relevant and reliable and comply with National Instrument (NI) 43-101 requirements and follow CIM Definition Standards for Mineral Resource Estimates. Analytical results from the 2019 drill program at Lac Doré will be disclosed by the Company once received and validated by a Qualified Person (QP), per NI 43-101 standards of disclosure for mineral projects.
Project highlights
- 100% Owned vanadium project spanning over 452 km
- Favorable metallurgy – Average Magnetite concentrate Grade of 1.08% V2O5 (Davis tube tests further confirm up to 2% V2O5 in concentrate)
- VTM Mineralization at surface
- Largest Geophysical Footprint in Region
- Open at depth and along strike
- Close to all Infrastructure (road, rail, 161Kv power, workforce, water, airport)
- Close to mining town of Chibougamau in Quebec, Canada
- Bushveld Complex mineralization is analogous to the Lac Dore Complex. The Bushveld currently sustains two vanadium producers in operation for decades.
- Extensive history of development since 1953
- 8 different historic resource calculations from the following firms: Quebec Department of Natural Resources (3 studies), SOQUEM, LMBDS-Sidam, IOS Services Géoscientifiques Inc, Cambior Inc. and SNC-Lavalin. All of these resource calculations are considered non-current and obsolete.
- Over 200 reports dealing with exploration, drilling, metallurgy and economical aspects
- Extensive beneficiation, smelting and salt-roasting testing by various groups
- 54 drill holes and 27 trenches tabled with 3D modeling
- Vanadium recovery from magnetite
- Extensive beneficiation, smelting and salt-roasting testing by various groups
- Ground and airborne geophysical surveys
