VanadiumCorp plans to arrange debenture financing to raise up to a maximum of $2 million (the “Debt Financing”).
VANCOUVER, BRITISH COLUMBIA – February 6, 2019 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce it has engaged Dr. Luke Longridge of CSA Global as a technical advisor and Qualified Person to assist with the development of the Company’s mineral assets. Dr. Longridge’s extensive vanadium mine development experience is a welcome addition as VanadiumCorp formalizes plans to develop both of the Company’s vanadium-titanium-iron mining assets in the Province of Quebec.
Dr. Longridge is a senior structural and economic geologist with CSA Global and is a registered professional natural scientist (Pr.Sci.Nat) with the South African Council for Natural Scientific Professions (SACNASP). He recently moved to Vancouver, BC from South Africa after completing his tenure with Bushveld Minerals (LON: BMN/$408M USD market cap) as Exploration Manager. Bushveld Minerals is now established as one of only three primary vanadium producers in the world. Dr. Longridge has over a decade of technical and project management experience in both exploration and mining, working on magnetite and other deposits within the Bushveld Complex, the largest igneous complex and one of the most economically significant mineral deposit complexes in the world. Dr. Longridge’s vanadium mining expertise on the Bushveld Complex is invaluable as the Company’s mining assets have geological and metallurgical similarities to Bushveld Complex magnetite deposits.
CSA Global is an international geological, mining, and management consulting company with over 30 years of experience providing strategic mining services and advice to companies in the international mining industry. VanadiumCorp Resource Inc. has engaged Dr. Longridge and additional consultants under CSA Global to help expedite development plans for Lac Dore and Iron-T Vanadium-Titanium-Iron Projects.
Dr. Longridge states, “There are several geological similarities between the magnetite mineralization at the Bushveld Complex in South Africa and the Lac Dore and Bell River Complexes in Quebec, and I look forward to working with VanadiumCorp Resource Inc. in their endeavor to develop their vanadiferous titanomagnetite deposits in Quebec.”
Adriaan Bakker, Chief Executive Officer of VanadiumCorp states, “I am pleased to have Dr. Longridge join VanadiumCorp’s industry-leading technical team. His vanadium expertise will prove vital in North America for the development of our mining projects within one of the most attractive mining jurisdictions of the world.”
VanadiumCorp Resource Inc. plans to develop it’s 100% owned Lac Dore and Iron-T vanadium-titanium-iron assets adjacent to the adjacent Blackrock Metals Inc. project, which is currently permitted to build a mine and mill to produce a vanadium-rich magnetite concentrate. VanadiumCorp is also developing it’s jointly owned “VanadiumCorp-Electrochem” Processing Technology (“VEPT”), a novel chemical process invented by Dr. Francois Cardarelli that addresses the direct and sustainable recovery of vanadium, iron, titanium, and silica from feedstocks such as vanadiferous titanomagnetite, iron ores and other industrial by-products containing vanadium.
On behalf of the board of VanadiumCorp:
Adriaan Bakker, President and Chief Executive Officer
Neither the 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.