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VanadiumCorp reports initial Davis tube testing results including 11.99 M containing 29.9% magnetics with 1.69% V2O5, and new drilling results including 0.67% V2O5 over 27.1 M at Lac Doré, Quebéc

TSX-V: “VRB”

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VANCOUVER, BRITISH COLUMBIA, March 26, 2020 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (“VanadiumCorp” or the “Company”), is pleased to announce  drilling results for an additional four drill holes from the Company’s summer-fall 2019 infill and extension drilling program at its Lac Doré Vanadium property. Holes reported are LD-19-001, LD-19-019, LD-19-023 and LD-19-033, bringing the total number of holes with complete results received to seven (7), out of 35 holes drilled in 2019. 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 Chibougamau area is host to several vanadiferous titanomagnetite (VTM) deposits, including the Southwest and Armitage deposits on the adjacent Blackrock property (BlackRock Metals Inc.) and the South and North Zone deposits on the Mont Sorcier project to the North (Vanadium One Iron Corp).

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 the presence within property limits of massive, semi-massive and disseminated bands of VTM mineralization along a 2 km long by 200 m wide and minimum 200 m deep corridor.

The Lac Doré Vanadium property lies on the southern flank of the Lac Doré anorthosite complex of Chibougamau and straddles the layered magmatic zone, which hosts the VTM mineralization. This layered magmatic zone has been traced by historical geophysics, drilling and mapping over a linear distance of 20 km.

Highlights:

  • Davis Tube magnetic separation testwork on VTM mineralized core from drill hole LD-19-022 (Table 1) included the following results:
    • 98 m* containing 24.7% magnetics with 1.61% V2O5 and;
    • 97 m* containing 46.0% magnetics with 1.24% V2O5.
  • Davis Tube testwork results also show several VTM mineralized core intervals with anomalous V2O5 contents of magnetite in drillhole LD-19-024 (Table 1), including:
    • 62 m* containing 47.2% magnetics with V2O5 of 1.51%;
    • 99 m* containing 29.9% magnetics with 1.69% V2O5 and;
    • 10 m* containing 24.3% magnetics with 1.70% V2O5.
  • Davis Tube magnetic separation testwork results are consistent with historical Davis Tube testwork results and confirm the presence of magnetite-bearing layers with the potential for high-V2O5 magnetite concentrates, particularly the lower (P1 or P0) units.
  • Complete assay results received for an additional four (4) drill holes (Figure 1).
  • All four holes intersected significant VTM
  • Best intercepts include:
    • Hole LD-19-001 drilled at -45o to a depth of 396 m intersected 1 m* grading 0.67% V2O5 (from 185.1 m to 214.5 m, core-length; Table 2; Figure 2), including 6.0 m* grading 0.81% V2O5 (from 205.5 to 211.5 m, core-length);
    • Hole LD-19-019 drilled at -55o to a depth of 180 m intersected 24.5 m* grading 0.64% V2O5 (from 67.3 m to 96.9 m, core-length; Table 2; Figure 3), including 6.2 m* grading 0.78% V2O5 (from 74.3 m to 80.5 m core-length; Table 2; Figure 3);
    • Hole LD-19-023 drilled at -45o to a depth of 300 m intersected 22.2 m* grading 0.65% V2O5 (from 168.5 to 193.0 core-length; Table 2; Figure 4); including 7.1 m* grading 0.77 % V2O5 (from 168.5 m to 175.6 m core-length; Table 2; Figure 4); 6.8 m* grading 0.72 % V2O5 (from 177.5 m to 184.3 m core-length; Table 2; Figure 4); and 5.0 m* grading 0.80 % V2O5 (from 188.0 m to 193.0 m core-length; Table 2; Figure 4).
    • Hole LD-19-033 drilled at -45o to a depth of 282 m intersected 23.3 m* grading 0.60% V2O5 (from 122.3 to 148.0 core-length; Table 2; Figure 5); including 2.7 m* grading 0.72 % V2O5 (from 127.5 m to 130.5 m core-length; Table 2; Figure 5); 3.9 m* grading 0.73 % V2O5 (from 136.5 m to 140.8 m core-length; Table 2; Figure 5); and 3.8 m* grading 0.75 % V2O5 (from 143.85 m to 148.0 m core-length; Table 2; Figure 5).
  • Mineralization occurs as layers of massive, semi-massive and disseminated magnetite. Davis Tube results from drillholes LD-19-022 and LD-19-024 (Table 2) show magnetite contents ranging from ~12% to ~53%.

* True thickness. True thicknesses have been estimated by assuming a dip of the layering of 70° to the SE, and the plunge of the drill hole towards the NW (-45° for LD-19-001, LD-19-022, LD-19-023 and LD-19-033, -60° for LD-19-024 or -55° for LD-19-019).

Adriaan Bakker, President and CEO of VanadiumCorp, states: “We are very encouraged by the initial Davis Tube test results that indicate that V2O5 grades of up to 1.7% can be obtained in the magnetite concentrate.  These early positive metallurgical test results, combined with our latest drilling results continue to support our objective of advancing our Lac Doré Vanadium project to the mineral resources estimation stage and beyond.”

Davis Tube testwork results

Results from the first batch of samples submitted for Davis Tube Testwork is shown in Table 2 below.

Table 1: Summary of Davis Tube results for drillholes LD-19-022 and LD-19-024, with percentages of magnetics and magnetite concentrates grades for Fe2O3, V2O5, TiO2, SiO2 and Al2O3, intersected core lengths, estimated true thicknesses, and magnetite-bearing stratigraphic zones.

Sample BHID FROM

(m)

TO

(m)

CORE LENGTH (m) ESTIMATED TRUE THICKNESS (M) Zone Mag

(%)

Fe2O3 mags (%) V2O5

mags (%)

TiO2

mags (%)

SiO2

mags (%)

Al2O3

mags (%)

DT1-1 LD-19-022 42.9 52.5 9.7 8.75 P3 30.5 90.70 1.03 9.08 0.98 0.75
DT1-2 52.5 58.5 6.0 5.44 P3 51.4 90.00 1.11 11.00 0.78 0.74
DT1-3 102.9 115.0 12.1 10.97 P2 46.0 87.70 1.24 11.50 1.02 0.80
DT1-4 118.4 123.7 5.4 4.85 P2 35.7 89.50 1.44 8.32 1.42 1.27
DT1-5 219.5 225.0 5.5 4.98 P1 24.7 93.20 1.61 4.84 1.04 1.06
DT1-6 252.5 255.3 2.9 2.58 P1/P0 11.8 94.00 1.44 3.34 1.38 0.93
DT1-7 LD-19-024 27.9 35.0 7.1 5.44 P3 39.1 88.10 1.06 10.40 1.16 0.95
DT1-8 104.0 109.0 5.1 3.87 P2 53.4 89.50 1.18 10.30 0.55 0.78
DT1-9 127.0 135.7 8.7 6.66 P2 33.4 94.30 1.46 6.15 0.74 0.70
DT1-10 175.0 186.3 11.3 8.62 P2 47.2 94.80 1.51 5.90 0.56 0.63
DT1-11 203.7 219.4 15.7 11.99 P2/P1 29.9 97.30 1.69 2.23 0.69 1.03
DT1-12 226.5 231.9 5.4 4.10 P1 24.3 96.50 1.70 2.86 0.93 0.82

Davis Tube tests were carried out at SGS Canada Inc.’s facilities in Val d’Or, Quebec. Samples were composited over the intervals in Table 1 using pulp rejects from samples previously prepared for assay. The samples had already been pulverized to 85% passing 75 μm. Composites were prepared using relative proportions based on weights of the core samples submitted (i.e. these are weighted-average composites). The composite was further pulverized to 80% passing 38 μm, and a 20g subsample of the composite was taken for the Davis Tube testing. Samples were added to the Davis tube and the tube was allowed to agitate for a period of four (4) minutes, after which the magnets were interrupted, and the magnetic concentrate was collected. The tailings were collected in a pail.  Both the magnetic concentrate and non-magnetic tailings were filtered, dried, and weighed. The two products were analyzed for Major elements SiO2, Al2O3, Fe2O3, MgO, CaO, Na2O, K2O, TiO2, P2O5, MnO, Cr2O3, V2O5, and LOI  by  Whole Rock Analysis (WRA), as per the procedure outlined below. QAQC protocol was for two samples to be subject to repeat tests.

Table 2: Summary of the significant intersections, with weighted average grades for V2O5, Fe2O3 and TiO2, intersected core lengths, and estimated true thicknesses.

HOLE-ID FROM

(m)

TO

(m)

CORE LENGTH (m) ESTIMATED TRUE THICKNESS
(m)
V2O5
(%)
Fe2O3
(%)
TiO2
(%)
Zone
LD-19-001 54.50 58.70 4.2 3.8 0.47 45.24 12.68 P3
LD-19-001 94.30 103.70 9.4 8.6 0.56 54.71 12.44 P2
LD-19-001 108.90 122.10 13.2 12.1 0.65 61.99 14.20 P2
LD-19-001 126.50 139.40 12.9 11.9 0.66 58.01 12.84 P2
LD-19-001 161.30 164.90 3.6 3.3 0.66 56.23 11.93 P2
LD-19-001 185.10 214.50 29.4 27.1 0.67 53.09 10.65 P2
INCLUDING 205.50 211.50 6.0 5.5 0.81 61.63 11.65
LD-19-001 218.00 225.50 7.5 6.9 0.78 59.34 10.86 P2
LD-19-001 231.30 233.80 2.5 2.3 0.71 53.05 9.26 P2
LD-19-001 240.00 244.70 4.7 4.1 0.69 50.07 8.78 P1
INCLUDING 240.00 243.00 3.0 2.6 0.76 54.30 9.67
LD-19-001 251.60 257.40 5.8 5.0 0.64 47.49 7.88 P1
INCLUDING 254.50 257.40 2.9 2.5 0.80 58.66 9.74
LD-19-001 269.00 278.50 9.5 8.2 0.55 40.12 6.55 P1
INCLUDING 272.80 275.60 2.8 2.4 0.73 51.98 8.83
LD-19-001 289.00 292.70 3.7 3.2 0.78 55.20 8.81 P1
LD-19-001 307.00 318.10 11.1 9.6 0.54 38.17 5.77 P1
INCLUDING 316.00 318.10 2.1 1.8 0.66 46.40 7.01
LD-19-019 38.25 43.20 5.0 4.0 0.68 60.64 14.22 P2
LD-19-019 47.80 63.85 16.1 13.2 0.68 57.88 12.66 P2
LD-19-019 67.25 96.90 29.7 24.5 0.64 48.13 8.85 P2
INCLUDING 74.30 80.50 6.2 5.1 0.78 57.44 11.10
AND 81.80 96.90 15.1 12.5 0.59 43.80 7.44
AND 90.20 96.90 6.7 5.6 0.64 46.05 7.83
LD-19-019 106.75 113.70 7.0 5.8 0.49 37.40 5.55 P2
LD-19-019 119.85 122.80 3.0 2.5 0.90 60.30 9.73 P2
LD-19-019 134.25 145.35 11.1 8.3 0.50 34.71 5.25 P1
INCLUDING 135.50 140.50 5.0 3.7 0.60 41.16 6.28
LD-19-023 18.70 30.30 11.6 9.3 0.59 59.12 14.72 P3
LD-19-023 52.70 56.40 3.7 3.3 0.59 58.18 13.23 P2
LD-19-023 69.00 80.80 11.8 10.6 0.69 60.26 13.90 P2
INCLUDING 70.50 78.00 7.5 6.7 0.74 63.94 14.56
LD-19-023 97.90 112.20 14.3 12.9 0.67 58.54 13.11 P2
INCLUDING 105.50 108.50 3.0 2.7 0.74 63.30 14.20
LD-19-023 130.70 135.80 5.1 4.6 0.71 59.63 12.61 P2
LD-19-023 149.50 160.80 11.3 10.2 0.65 52.82 10.81 P2
INCLUDING 155.00 160.80 5.8 5.2 0.71 56.79 11.39
LD-19-023 168.50 193.00 24.5 22.2 0.65 51.23 9.51 P2
INCLUDING 168.50 175.60 7.1 6.4 0.77 59.96 11.71
AND 177.50 184.30 6.8 6.2 0.72 56.29 10.46
AND 188.00 193.00 5.0 4.5 0.80 59.56 10.96
LD-19-023 199.50 204.50 5.0 4.5 0.83 60.43 10.90 P2
LD-19-023 213.00 230.90 17.9 16.2 0.69 50.00 8.63 P2
INCLUDING 213.00 223.25 10.3 9.3 0.77 55.60 9.78
AND 224.80 226.20 1.4 1.3 0.87 62.40 10.90
AND 228.40 230.90 2.5 2.3 0.89 61.50 10.60
LD-19-023 240.50 251.10 10.6 9.6 0.62 43.99 7.22 P2
INCLUDING 240.50 246.70 6.2 5.6 0.72 50.75 8.38
AND 250.20 251.10 0.9 0.8 0.92 64.40 10.80
LD-19-023 257.50 268.70 11.2 9.4 0.49 34.44 5.22 P1
INCLUDING 264.80 266.50 1.7 1.4 0.69 47.50 7.16
LD-19-033 39.00 47.55 8.6 6.9 0.38 51.61 12.33 P3
LD-19-033 89.70 98.80 9.1 8.2 0.49 53.45 12.42 P2
INCLUDING 95.70 98.80 3.1 2.8 0.62 62.30 14.81
LD-19-033 115.55 118.50 3.0 2.7 0.61 58.13 12.99 P2
LD-19-033 122.30 148.00 25.7 23.3 0.60 48.81 9.40 P2
INCLUDING 127.50 130.50 3.0 2.7 0.72 59.45 12.30
AND 136.50 140.80 4.3 3.9 0.73 56.40 10.54
AND 143.85 148.00 4.2 3.8 0.75 56.42 10.07
LD-19-033 152.15 164.00 11.9 10.8 0.46 36.87 5.80 P2
INCLUDING 155.15 158.00 2.9 2.6 0.68 50.12 8.63
LD-19-033 166.95 178.40 11.5 10.5 0.49 37.34 5.76 P2
INCLUDING 175.00 178.40 3.4 3.1 0.78 55.59 9.29
LD-19-033 186.00 198.40 12.4 11.4 0.39 31.44 4.41 P2
LD-19-033 214.70 224.00 9.3 7.9 0.48 34.82 5.36 P1

2019 exploration program

The summer-fall 2019 exploration program conducted at the Lac Doré Vanadium property was designed by the Company with the aid of mining industry consultants InnovExplo of Val-d’Or, Québec and CSA Global of Vancouver, BC. The exploration program was managed by InnovExplo of Val-d’Or, Québec under the supervision of the Table Jamésienne de Concertation Minière (TJCM) of Chibougamau, Québec.

  • The infill and extension drilling program was the main component of the 2019 exploration program. Thirty-five (35) holes were drilled (total: 9,196 m) within the outline of the corridor hosting banded VTM mineralization that was the focus of historic drilling, including 28 holes drilled to map the continuity of VTM mineralization between historic holes (7,642 m) and seven (7) holes drilled to twin historic holes (total: 1,554 m). The drilling was carried out by Miikan Drilling Ltd of Chibougamau.
  • Drill core samples (half-core) are submitted to SGS Canada Inc.’s facilities in Val d’Or and Quebec City, Quebec for preparation. The entire sample is 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 are 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 analysed 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.

The QAQC Protocol is as follows:

  • Minimum 5% appropriate VTM standards to be inserted into the sample stream (i.e. 1 standard per 20 samples);
  • Minimum 5% blanks to be inserted into the sample stream;
  • All coarse rejects and pulps to be collected from the laboratory;
  • 5% of pulps to be resubmitted to SGS in later batches as duplicates with new sample numbers;
  • 5% of pulps to be submitted to an umpire laboratory.

Figure 1: Drill hole locations for the 2019 drilling program

Figure 2: Section LD-19-001

Figure 3: Section LD-19-019

Figure 4: Section LD-19-023

Figure 5: Section LD-19-033

The details of the first results received from the laboratory are presented in table below (Lengths are expressed along drill core axis. The true thickness was not determined):

Hole Id From To Core length V2O5 (%) High Grade interval V2O5 (>0.6%) Grade interval V2O5 (>0.3%) Fe2O3 (%) High Grade interval Fe2O3 (>45%) Grade interval Fe2O3 (>30%) TiO2 (%) High Grade interval TiO2 (>9%) Grade interval TiO2 (>5%)
LD-19-001 54.5 56 1.5 0.43 0.47 % over 39.6 45.24 % over 12.2 12.68 % over
56 57.5 1.5 0.5 4.2 m 48.9 4.2 m 13.3 4.2 m
57.5 58.7 1.2 0.47 47.7 12.5
94.3 95.6 1.3 0.69 0.64 % over 0.56 % over 65.7 61.52 % over 54.71 % over 14.9 14.11 % over 12.44 % over
95.6 97 1.4 0.6 4.1 m 9.4 m 59.4 4.1 m 9.4 m 13.4 4.1 m 9.4 m
97 98.35 1.35 0.63 59.7 14.1
98.35 100.1 1.75 0.55 53.9 12.2
100.1 101.5 1.4 0.08 15.3 1.96
101.5 103.7 2.2 0.73 0.73 % over 2.2 m 67.9 67.90 % over 2.2 m 16.2 16.20 % over 2.2 m
108.9 110.5 1.6 0.64 0.65 % over 62.6 61.99 % over 14.5 14.20 % over
110.5 112 1.5 0.72 13.2 m 70 13.2 m 16.6 13.2 m
112 113.5 1.5 0.72 68.1 16.2
113.5 115 1.5 0.73 69.5 16.3
115 116.5 1.5 0.77 71.1 16.4
116.5 118.6 2.1 0.66 63.9 14.2
118.6 119.8 1.2 0.05 14 1.18
119.8 122.1 2.3 0.73 64.8 15.1
126.5 128 1.5 0.72 0.66 % over 63.2 58.01 % over 14.3 12.84 % over
128 129.5 1.5 0.75 12.9 m 65.5 12.9 m 14.5 12.9 m
129.5 132 2.5 0.6 54.4 11.8
132 133.5 1.5 0.61 56.3 12
133.5 135 1.5 0.58 52 11.5
135 136.5 1.5 0.7 59.5 13.9
136.5 138 1.5 0.65 56.8 12.5
138 139.4 1.4 0.68 58.8 12.9
161.3 163 1.7 0.63 0.66 % over 54.7 56.23 % over 11.4 11.93 % over
163 164.9 1.9 0.68 3.6 m 57.6 3.6 m 12.4 3.6 m
170.8 171.9 1.1 0.63 0.63 % over 1.1 m 54.7 54.70 % over 1.1 m 11.6 11.60 % over 1.1 m
185.1 186.5 1.4 0.7 0.67 % over 57.5 53.09 % over 12.2 10.65 % over
186.5 188 1.5 0.78 29.40 m 64.7 29.40 m 13.6 29.40 m
188 190 2 0.66 55.1 11.4
190 192 2 0.73 55.2 12.4
192 193.5 1.5 0.73 58.4 12.1
193.5 195 1.5 0.53 42.4 9.16
195 196.7 1.7 0.7 56.8 11.9
196.7 198 1.3 0.05 8.78 1.03
198 199.5 1.5 0.58 46.4 9.47
199.5 201 1.5 0.76 59.9 12.1
201 202.5 1.5 0.7 55.3 11.2
202.5 204 1.5 0.63 51.4 9.8
204 205.5 1.5 0.74 57.9 11.2
205.5 207 1.5 0.79 0.81 % over 60.1 61.63 % over 11.5 11.65 % over
207 208.5 1.5 0.75 6.0 m 58.1 6.0 m 11 6.0 m
208.5 210 1.5 0.8 61.1 11.5
LD-19-001 210 211.5 1.5 0.89 67.2 12.6
211.5 212.8 1.3 0.73 54.5 10
212.8 214.5 1.7 0.45 33.3 6.43
218 219.5 1.5 0.75 0.78 % over 57.1 59.34 % over 10.6 10.86 % over
219.5 221 1.5 0.75 7.5 m 56.6 7.5 m 10.5 7.5 m
221 222.5 1.5 0.74 56 10.2
222.5 224 1.5 0.8 60.6 11
224 225.5 1.5 0.87 66.4 12
231.3 233 1.7 0.74 0.71 % over 55.8 53.05 % over 9.7 9.26 % over
233 233.8 0.8 0.64 2.5 m 47.2 2.5 m 8.32 2.5 m
240 241.5 1.5 0.71 0.76 % over 0.69 % over 52.6 54.30 % over 50.07 % over 9.34 9.67 % over 8.78 % over
241.5 243 1.5 0.8 3.0 m 4.7 m 56 3.0 m 4.7 m 10 3.0 m 4.7 m
243 244.7 1.7 0.58 42.6 7.21
251.6 253 1.4 0.47 0.64 % over 35.5 47.49 % over 5.95 7.88 % over
253 254.5 1.5 0.49 5.8 m 37.1 5.8 m 6.1 5.8 m
254.5 256 1.5 0.77 0.80 % over 56.2 58.66 % over 9.5 9.74 % over
256 257.4 1.4 0.84 2.9 m 61.3 2.9 m 9.99 2.9 m
269 271.2 2.2 0.68 0.55 % over 49.7 40.12 % over 8.26 6.55 % over
271.2 272.8 1.6 0.18 9.5 m 15.9 9.5 m 2.43 9.5 m
272.8 274.5 1.7 0.69 0.73 % over 48.6 51.98 % over 8.55 8.83 % over
274.5 275.6 1.1 0.78 2.8 m 57.2 2.8 m 9.25 2.8 m
275.6 277 1.4 0.29 23.8 3.25
277 278.5 1.5 0.64 45 7.28
289 290.7 1.7 0.68 0.78 % over 48.5 55.20 % over 7.82 8.81 % over
290.7 292.7 2 0.87 3.7 m 60.9 3.7 m 9.66 3.7 m
307 308.5 1.5 0.59 0.54 % over 41.6 38.17 % over 6.47 5.77 % over
308.5 310 1.5 0.28 11.1 m 20.9 11.1 m 3.08 11.1 m
310 311.5 1.5 0.55 39.7 5.98
311.5 313 1.5 0.62 44 6.41
313 314.5 1.5 0.49 34.8 5.18
314.5 316 1.5 0.51 36.5 5.76
316 318.1 2.1 0.66 0.66 % over 2.1 m 46.4 46.40 % over 2.1 m 7.01 7.01 % over 2.1 m
LD-19-019 34 35.25 1.25 0.59 0.59 % over 1.25 m 55.8 55.80 % over 1.25 m 12.1 12.10 % over 1.25 m
38.25 39.5 1.25 0.68 0.68 % over 62 60.64 % over 14 14.22 % over
39.5 41 1.5 0.66 5.0 m 60.6 5.0 m 13.9 5.0 m
41 42.5 1.5 0.67 61.2 14
42.5 43.2 0.7 0.76 57.1 15.8
47.8 48.5 0.7 0.49 0.68 % over 44.5 57.88 % over 8.85 12.66 % over
LD-19-019 48.5 50 1.5 0.71 16.1 m 57.5 16.1 m 12.3 16.1 m
50 51.5 1.5 0.77 67 15.4
51.5 53 1.5 0.77 68.1 15.6
53 54 1 0.73 63.9 14.7
54 54.9 0.9 0.72 63.2 14.4
54.9 55.4 0.5 0.03 10.3 0.67
55.4 56 0.6 0.75 61.4 15
56 57 1 0.7 60 13.1
57 58.5 1.5 0.65 54.8 12
58.5 60 1.5 0.68 56.7 12.2
60 61.5 1.5 0.69 57.9 12
61.5 63 1.5 0.69 56.4 11.7
63 63.85 0.85 0.68 55.8 11.8
67.25 68.7 1.45 0.77 0.64 % over 60.3 48.13 % over 12.3 8.85 % over
68.7 69.4 0.7 0.59 29.7 m 46.2 29.7 m 9.22 29.7 m
69.4 70.65 1.25 0.78 58.8 12.3
70.65 71.9 1.25 0.58 45 9.06
71.9 73 1.1 0.65 52.2 10.4
73 73.8 0.8 0.7 55.5 11.1
73.8 74.3 0.5 0.29 34.5 4.56
74.3 75 0.7 0.73 0.78 % over 56 57.44 % over 11.1 11.10 % over
75 76 1 0.74 6.2 m 56.4 6.2 m 10.9 6.2 m
76 77 1 0.81 59.3 11.8
77 78 1 0.78 55.5 10.7
78 79 1 0.76 56.3 10.6
79 80 1 0.81 60.1 11.4
80 80.5 0.5 0.81 58.7 11.3
80.5 81 0.5 0.57 41.7 8
81 81.8 0.8 0.32 25.1 4.53
81.8 82.8 1 0.66 0.69 % over 50 50.55 % over 9.17 9.30 % over
82.8 84 1.2 0.66 2.6 m 48.3 2.6 m 8.85 2.6 m
84 84.4 0.4 0.85 58.7 11
84.4 85 0.6 0.52 37.5 7.59
85 85.6 0.6 0.18 22.1 2.31
85.6 86.25 0.65 0.66 44.5 7.99
86.25 87.7 1.45 0.38 30.7 4.44
87.7 89 1.3 0.73 51.6 8.97
89 89.8 0.8 0.53 42.1 6.26
89.8 90.2 0.4 0.31 28.5 3.62
90.2 91.2 1 0.75 0.64 % over 49.2 46.05 % over 9 7.83 % over
91.2 92.5 1.3 0.29 6.7 m 26.7 6.7 m 3.81 6.7 m
92.5 93.65 1.15 0.78 56.6 9.85
93.65 94.9 1.25 0.41 29.1 5.03
LD-19-019 94.9 96 1.1 0.83 59.7 10
96 96.90 0.9 0.93 63.9 11
103.25 103.9 0.65 0.9 0.90 % over 0.7 m 62 62.00 % over 0.7 m 10.4 10.40 % over 0.7 m
106.75 107.45 0.7 0.52 0.49 % over 39.9 37.40 % over 5.93 5.55 % over
107.45 108.85 1.4 0.41 7.0 m 35.3 7.0 m 4.83 7.0 m
108.85 109.85 1 0.84 0.84 % over 1 59.1 59.10 % over 1 9.65 9.65 % over 1
109.85 111 1.15 0.36 25.4 4.17
111 111.9 0.9 0.42 29.7 4.65
111.9 112.9 1 0.33 30.4 3.45
112.9 113.7 0.8 0.6 0.60 % over 0.8m 46.4 46.40 % over 0.8m 6.98 6.98 % over 0.8m
119.85 121.3 1.45 0.85 0.90 % over 57.3 60.30 % over 9.24 9.73 % over
121.3 122.8 1.5 0.94 3.0 m 63.2 3.0 m 10.2 3.0 m
134.25 135.5 1.25 0.44 0.50 % over 30.8 34.71 % over 4.76 5.25 % over
135.5 136.5 1 0.76 0.60 % over 11.1 m 51.6 41.16 % over 11.1 m 8 6.28 % over 11.1 m
136.5 137.7 1.2 0.16 5.0 m 11.2 5.0 m 1.74 5.0 m
137.7 139 1.3 0.72 49.3 7.54
139 140.5 1.5 0.73 51.1 7.68
140.5 141.1 0.6 0.33 25 3.48
141.1 142 0.9 0.14 10.6 1.56
142 143 1 0.58 40.3 6.05
143 145.35 2.35 0.45 32.4 4.86
149 150 1 0.4 0.39 % over 29.2 28.72 % over 4.05 4.06 % over
150 151 1 0.4 5.0 m 29.5 5.0 m 4.23 5.0 m
151 152 1 0.25 21.5 2.68
152 153 1 0.6 40.1 6.09
153 154 1 0.3 23.3 3.23
163 163.5 0.5 0.52 0.52 % over 0.5 m 37.5 37.50 % over 0.5 m 5.83 5.83 % over 0.5 m
179 180 1 0.55 0.55 % over 1.0 m 41.7 41.70 % over 1.0 m 5.26 5.26 % over 1.0 m
LD-19-023 18.7 19.8 1.1 0.52 0.59 % over 54.2 59.12 % over 13.5 14.72 % over
19.8 22 2.2 0.49 11.6 m 52.7 11.6 m 13.3 11.6 m
22 24 2 0.59 58.5 14.7
24 25.5 1.5 0.55 55.2 13.7
25.5 26.9 1.4 0.58 56.6 14.1
26.9 28.5 1.6 0.72 0.71 % over 68.9 68.00 % over 16.9 16.74 % over
28.5 30.3 1.8 0.71 3.4 m 67.2 3.4 m 16.6 3.4 m
32.8 34.5 1.7 0.36 0.41 % over 47.8 46.60 % over 8.67 9.60 % over
34.5 36 1.5 0.5 5.8 m 53.4 5.8 m 11.4 5.8 m
36 36.7 0.7 0.66 65.4 15.3
36.7 38 1.3 0.15 21.4 3.86
38 38.6 0.6 0.6 58.9 13.5
LD-19-023 52.7 54 1.3 0.61 0.59 % over 60.9 58.18 % over 13.9 13.23 % over
54 55.5 1.5 0.56 3.7 m 54.8 3.7 m 12.3 3.7 m
55.5 56.4 0.9 0.62 59.9 13.8
69 70.5 1.5 0.63 0.69 % over 56.3 60.26 % over 13.1 13.90 % over
70.5 72 1.5 0.74 0.74 % over 11.8 m 62.4 63.94 % over 11.8 m 14.3 14.56 % over 11.8 m
72 73.5 1.5 0.72 7.5 m 58.5 7.5 m 14.1 7.5 m
73.5 75 1.5 0.73 63.2 13.8
75 76.5 1.5 0.77 68.2 15.4
76.5 78 1.5 0.74 67.4 15.2
78 79.5 1.5 0.55 46.8 11.3
79.5 80.8 1.3 0.63 59.1 14
83 83.7 0.7 0.78 0.78 % over 0.7 m 68.1 68.10 % over 0.7 m 16 16.00 % over 0.7 m
97.9 99.5 1.6 0.71 0.67 % over 61.8 58.54 % over 14.4 13.11 % over
99.5 101 1.5 0.72 14.3 m 64 14.3 m 14.3 14.3 m
101 102.5 1.5 0.64 52.9 12.9
102.5 103.7 1.2 0.64 56.9 12
103.7 104.2 0.5 0.33 35.7 6.52
104.2 105.5 1.3 0.62 56.9 12.5
105.5 107 1.5 0.77 0.74 % over 65.7 63.30 % over 14.8 14.20 % over
107 108.5 1.5 0.71 3.0 m 60.9 3.0 m 13.6 3.0 m
108.5 110 1.5 0.64 56 12.5
110 112.2 2.2 0.69 58.6 12.9
119.2 120.2 1 0.55 0.55 % over 1.0 m 47.3 47.30 % over 1.0 m 10.3 10.30 % over 1.0 m
130.7 132 1.3 0.6 0.71 % over 52.4 59.63 % over 10.9 12.61 % over
132 134.3 2.3 0.73 5.1 m 61 5.1 m 13 5.1 m
134.3 135.8 1.5 0.76 63.8 13.5
149.5 151 1.5 0.72 0.72 % over 1.5 m 0.65 % over 60.6 60.60 % over 1.5 m 52.82 % over 12.7 12.70 % over 1.5 m 10.81 % over
151 151.7 0.7 0.54 11.3 m 43.4 11.3 m 9.41 11.3 m
151.7 154.2 2.5 0.67 53.7 11.7
154.2 155 0.8 0.08 14.9 1.46
155 155.5 0.5 0.69 0.71 % over 56.5 56.79 % over 11.1 11.39 % over
155.5 157 1.5 0.74 5.8 m 60.6 5.8 m 12.1 5.8 m
157 158.5 1.5 0.7 54.7 11.2
158.5 160 1.5 0.72 57.2 11.5
160 160.8 0.8 0.65 53 10.4
168.5 170 1.5 0.77 0.77 % over 0.65 % over 60.9 59.96 % over 51.23 % over 12.3 11.71 % over 9.51 % over
170 171.5 1.5 0.77 7.1 m 24.50 m 60.5 7.1 m 24.50 m 11.9 7.1 m 24.50 m
171.5 173 1.5 0.72 55.3 10.8
173 174.5 1.5 0.83 64.3 12.5
LD-19-023 174.5 175.6 1.1 0.73 58.4 10.8
175.6 177.5 1.9 0.2 24.7 3
177.5 179 1.5 0.74 0.72 % over 58.8 56.29 % over 11.3 10.46 % over
179 180.3 1.3 0.83 6.8 m 62.8 6.8 m 11.9 6.8 m
180.3 181.1 0.8 0.08 16.6 1.99
181.1 183 1.9 0.89 68 12.7
183 184.3 1.3 0.72 54.2 10
184.3 186 1.7 0.49 37.2 7.02
186 188 2 0.21 19.3 3.16
188 189.5 1.5 0.76 0.80 % over 57 59.56 % over 10.5 10.96 % over
189.5 191 1.5 0.74 5.0 m 55.8 5.0 m 10.3 5.0 m
191 193 2 0.88 64.3 11.8
199.5 201 1.5 0.83 0.83 % over 59.8 60.43 % over 10.9 10.90 % over
201 202.5 1.5 0.87 5.0 m 64.9 5.0 m 11.7 5.0 m
202.5 204 1.5 0.84 60.4 10.8
204 204.5 0.5 0.69 49 8.81
213 214.5 1.5 0.82 0.77 % over 0.69 % over 60.2 55.60 % over 50.00 % over 10.6 9.78 % over 8.63 % over
214.5 216 1.5 0.8 10.3 m 17.9 m 58.6 10.3 m 17.9 m 10.4 10.3 m 17.9 m
216 218.5 2.5 0.72 53.2 9.25
218.5 220 1.5 0.7 51.4 8.89
220 221.5 1.5 0.85 61.1 10.4
221.5 223.25 1.75 0.76 51.4 9.51
223.25 224.8 1.55 0.27 23 3.47
224.8 226.2 1.4 0.87 0.87 % over 1.4 m 62.4 62.40 % over 1.4 m 10.9 10.90 % over 1.4 m
226.2 228.4 2.2 0.28 22 3.23
228.4 230.9 2.5 0.89 0.89 % over 2.5m 61.5 61.50 % over 2.5m 10.6 10.60 % over 2.5m
240.5 242.4 1.9 0.92 0.72 % over 0.62 % over 64.3 50.75 % over 43.99 % over 10.8 8.38 % over 7.22 % over
242.4 243.5 1.1 0.31 6.2 m 10.6 m 23.2 6.2 m 10.6 m 3.78 6.2 m 10.6 m
243.5 245.85 2.35 0.75 52.7 8.54
245.85 246.7 0.85 0.74 50.7 8.5
246.7 249 2.3 0.31 23.3 3.65
249 250.2 1.2 0.46 33.4 5.37
250.2 251.1 0.9 0.92 0.92 % over 0.9 m 64.4 64.40 % over 0.9 m 10.8 10.80 % over 0.9 m
257.5 259 1.5 0.51 0.49 % over 36.1 34.44 % over 5.69 5.22 % over
259 260.5 1.5 0.37 11.2 m 25.7 11.2 m 4.07 11.2 m
260.5 262 1.5 0.48 34.6 5.17
262 263.5 1.5 0.57 39.1 5.95
263.5 264.8 1.3 0.33 23.4 3.49
264.8 266.5 1.7 0.69 0.69 % over 1.7 m 47.5 47.50 % over 1.7 m 7.16 7.16 % over 1.7 m
266.5 268.7 2.2 0.43 32.4 4.73
LD-19-033 39 40.6 1.6 0.31 0.38 % over 49.9 51.61 % over 11.1 12.33 % over
40.6 42.25 1.65 0.32 8.6 m 48.8 8.6 m 10.5 8.6 m
42.25 43.25 1 0.52 66 17
43.25 45 1.75 0.41 52.7 12.8
45 46 1 0.4 49.7 12
46 47.55 1.55 0.39 47.1 12.2
89.7 91.2 1.5 0.38 0.49 % over 47.1 53.45 % over 10.1 12.42 % over
91.2 92.7 1.5 0.5 9.1 m 57 9.1 m 13 9.1 m
92.7 94.2 1.5 0.37 41.9 9.66
94.2 95.7 1.5 0.47 49.5 12
95.7 97.2 1.5 0.6 0.62 % over 60.6 62.30 % over 14.4 14.81 % over
97.2 98.8 1.6 0.64 3.1 m 63.9 3.1 m 15.2 3.1 m
115.55 117 1.45 0.61 0.61 % over 59.3 58.13 % over 13.4 12.99 % over
117 118.5 1.5 0.61 3.0 m 57 3.0 m 12.6 3.0 m
122.3 123 0.7 0.55 0.60 % over 36.4 48.81 % over 10.5 9.40 % over
123 124.5 1.5 0.48 25.70 m 37.3 25.70 m 8.7 25.70 m
124.5 126 1.5 0.6 51.7 11.4
126 127.5 1.5 0.62 53.1 11.4
127.5 129 1.5 0.71 0.72 % over 59.3 59.45 % over 12.4 12.30 % over
129 130.5 1.5 0.73 3.0 m 59.6 3.0 m 12.2 3.0 m
130.5 132 1.5 0.69 56.4 11.4
132 133.65 1.65 0.64 49.5 10.1
133.65 135.2 1.55 0.07 23.7 1.3
135.2 136.5 1.3 0.61 50.9 9.33
136.5 138 1.5 0.76 0.73 % over 57.8 56.40 % over 11.2 10.54 % over
138 139.5 1.5 0.6 4.3 m 47.8 4.3 m 8.52 4.3 m
139.5 140.8 1.3 0.85 64.7 12.1
140.8 142.5 1.7 0.36 27.9 5.07
142.5 143.05 0.55 0.43 35.7 5.9
143.05 143.85 0.8 0.3 30.7 4
143.85 145 1.15 0.72 0.75 % over 54.4 56.42 % over 9.9 10.07 % over
145 146.5 1.5 0.72 4.2 m 54.5 4.2 m 9.58 4.2 m
146.5 148 1.5 0.8 59.9 10.7
152.15 153.65 1.5 0.45 0.46 % over 37.7 36.87 % over 5.95 5.80 % over
153.65 155.15 1.5 0.4 11.9 m 34.5 11.9 m 5.1 11.9 m
155.15 156.65 1.5 0.74 0.68 % over 54.1 50.12 % over 9.44 8.63 % over
156.65 158 1.35 0.61 2.8 m 45.7 2.8 m 7.72 2.8 m
158 158.7 0.7 0.44 34.8 5.19
158.7 160.1 1.4 0.18 19.4 2.29
160.1 161.6 1.5 0.32 27.2 3.93
161.6 163.1 1.5 0.35 29.6 4.28
163.1 164 0.9 0.77 0.77 % over 0.9 m 54.5 54.50 % over 0.9 m 9.37 9.37 % over 0.9 m
166.95 168 1.05 0.38 0.49 % over 30.7 37.34 % over 4.49 5.76 % over
LD-19-033 168 169.5 1.5 0.43 11.5 m 34.2 11.5 m 4.96 11.5 m
169.5 171 1.5 0.2 20.1 2.29
171 172.5 1.5 0.48 36.3 5.6
172.5 174 1.5 0.39 31.4 4.52
174 175 1 0.3 23.3 3.59
175 176.4 1.4 0.62 0.78 % over 45 55.59 % over 7.55 9.29 % over
176.4 177.4 1 0.91 3.4 m 64 3.4 m 10.8 3.4 m
177.4 178.4 1 0.89 62 10.2
186 187.5 1.5 0.38 0.39 % over 31.5 31.44 % over 4.44 4.41 % over
187.5 189 1.5 0.54 12.4 m 41.8 12.4 m 6.17 12.4 m
189 190.5 1.5 0.43 33.6 4.89
190.5 192 1.5 0.39 31.8 4.42
192 193.5 1.5 0.28 26 3.56
193.5 195 1.5 0.48 37.4 5.21
195 196.5 1.5 0.29 27.4 3.14
196.5 197.5 1 0.25 20.9 3.05
197.5 198.4 0.9 0.38 27.5 4.37
207 207.9 0.9 0.68 0.68 % over 0.9 m 48.4 48.40 % over 0.9 m 7.46 7.46 % over 0.9 m
214.7 216 1.3 0.53 0.48 % over 37.7 34.82 % over 5.9 5.36 % over
216 217.5 1.5 0.5 9.3 m 35.5 9.3 m 5.57 9.3 m
217.5 219.2 1.7 0.57 39.7 6.14
219.2 219.85 0.65 0.16 13.4 1.86
219.85 221.6 1.75 0.64 0.64 % over 1.8 m 45.2 45.20 % over 1.8 m 7.02 7.02 % over 1.8 m
221.6 223.1 1.5 0.37 28.6 4.29
223.1 224 0.9 0.35 26 3.89

 

Qualified Persons

The scientific and technical information disclosed in this news release has been prepared, reviewed and approved by Mr. Carl Pelletier, B.Sc., P.Geo. (Québec) from InnovExplo, a consultant to the Company and an Independent Qualified Person under NI 43-101 – Standards of Disclosure for Mineral Projects.

About VanadiumCorp Resource Inc.

VanadiumCorp is developing an integrated supply chain enabling scalable, safe, sustainable, low cost, long duration energy storage solutions for the clean energy future. VanadiumCorp is developing vanadium redox flow battery technology under its XRG® brand, a wholly owned vanadium resource base in Quebec, Canada and jointly owned process technology that recovers vanadium sustainably and efficiently.

On behalf of the board of VanadiumCorp:

Adriaan Bakker
President and Chief Executive Officer

For more information:

Adriaan Bakker,
President and CEO, VanadiumCorp Resource Inc.
(TSX-V: “VRB”)
By phone: 1-604-385-4489
By email: ab@vanadiumcorp.com
Website: www.vanadiumcorp.com

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.

 Cautionary & Forward-Looking Statements
 This release contains forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements with respect to the anticipated use of Private Placement proceeds and anticipated receipt of final TSX Venture Exchange acceptance for the Private Placement.  Forward-looking statements include words or expressions such as “will”, “subject to”, “expect” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets and risks that may impact the Company’s business, operations and financial condition. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect the Company’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.