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VanadiumCorp Reports New High-Grade V2O5 Drill Core Intercepts at Lac Doré, Québec − 37.1 m Grading 0.73% V2O5 and 55.72% Fe2O3; Additional Davis Tube Testing Results Include  8.3 m Grading 22.9% Magnetics with 1.5% V2O5

TSX-V: “VRB”

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VANCOUVER, BRITISH COLUMBIA, May 21, 2020 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (“VanadiumCorp” or the “Company”), is pleased to release the latest assay results for an additional ten drill holes from the Company’s summer-fall 2019 infill and extension drilling program at its Lac Doré Vanadium property, as well as new Davis Tube magnetic separation testwork results for 33 additional composite core samples from eight drill holes. Assay results are reported for holes LD-19-003, LD-19-004, LD-19-005, LD-19-008, LD-19-013, LD-19-015, LD-19-018, LD-19-021, LD-19-032 and LD-19-035, bringing the total number of holes with complete assay results received to 24  out of 37 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 property to the North (Vanadium One Iron Corp).

The 2019 drill program targeted the Company’s Lac Doré Vanadium Main 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:

  • Complete assay results received for an additional ten drill holes (Figure 1).
  • All ten holes intersected significant VTM
  • Best intercepts include:
    • Hole LD-19-003 intersected 4 m* grading 0.69% V2O5, including 3.50 m* grading 0.91% V2O5 (Table 2; Figure 2);
    • Hole LD-19-004 intersected 6.3 m* grading 0.97% V2O5 (Table 2; Figure 2);
    • Hole LD-19-005 intersected 27.6 m* grading 0.69% V2O5 (Table 2; Figure 3);
    • Hole LD-19-008 intersected 37.1 m* grading 0.69% V2O5, including 4.8 m* grading 0.81% V2O5 (Table 2; Figure 4)
    • Hole LD-19-013 intersected 32.7 m* grading 0.73% V2O5 (Table 2; Figure 5);
    • Hole LD-19-015 intersected 41.7 m* grading 0.68% V2O5 (Table 2; Figure 6);
    • Hole LD-19-018 intersected 40.7 m* grading 0.62% V2O5, including 6.0 m* grading 0.72% V2O5 (Table 2; Figure 7);
    • Hole LD-19-021 intersected 36.4 m* grading 0.62% V2O5, including 10.2 m* grading 0.73% V2O5 (Table 2; Figure 8);
    • Hole LD-19-032 intersected 29.1 m* grading 0.62% V2O5 (Table 2; Figure 9);
    • Hole LD-19-035 intersected 36.6 m* grading 0.65% V2O5 (Table 2; Figure 10);
  • Mineralization occurs as layers of massive, semi-massive and disseminated magnetite.
  • Davis Tube magnetic separation testwork on composite samples of VTM mineralized core from drill holes LD-19-003, LD-19-004, LD-19-016, LD-19-017, LD-19-025, LD-19-029, LD-19-33, and LD-19-034 (Table 1) show magnetite contents ranging from ~6% to 65%, and included the following results:
  • 3 m* containing 28.6% magnetics with 1.48% V2O5 (LD-19-016)
  • 0 m* containing 21.0% magnetics with 1.62% V2O5; (LD-19-017)
  • 2 m* containing 33.6% magnetics with 1.31% V2O5 (LD-19-033)
  • 3 m* containing 22.9% magnetics with 1.5% V2O5 (LD-19-034)
  • 9 m* containing 26.39% magnetics with 1.42% V2O5 (LD-19-003)
  • 0 m* containing 60.93% magnetics with 1.42% V2O5 (LD-19-004)
  • 4 m* containing 41.67% magnetics with 1.42% V2O5 (LD-19-025)
  • 4 m* containing 42.08% magnetics with 1.54% V2O5 (LD-19-029)
  • Davis Tube magnetic separation testwork results are consistent with previous results, showing that lower (P1 or P0) stratigraphic units have elevated V2O5 in the magnetite concentrate (typically >1.5%V2O5) whereas the upper unit (P3) has lower V2O5 in the concentrate (typically <1.0%V2O5).

1 High-grade V2O5 intercepts in drill core are defined by the Company as a minimum of 0.6 % V2O5 over a minimum true thickness of 0.5 m.

*True thickness is 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-19-003, LD-19-004, LD-19-016, LD-19-017, LD-19-33, and LD-19-034, -60° for LD-19-025 and LD-19-029).

Adriaan Bakker, President and CEO of VanadiumCorp, states: “These latest drill core assay and of Davis Tube test results from our Lac Doré Vanadium Main prospect continue to show consistent zones where VTM mineralization grades a minimum of 0.6% V2O5 and magnetite concentrate grades exceed 1.5% V2O5. We look forward to more positive results from our ongoing drill core assays and Davis Tube testwork programs over the coming weeks.”

Davis Tube testwork results

Results from the first batch of samples submitted for Davis Tube testwork is shown in Table 1 below.

Table 1: Summary of Davis Tube results for drill holes LD-19-003, LD-19-004, LD-19-016, LD-19-017, LD-19-025, LD-19-029, LD-19-33, and LD-19-034, 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 TO CORE LENGTH (m) ESTIMATED TRUE THICKNESS (m) Zone Mag % Fe2O3 (%) TiO2 (%) V2O5 (%) SiO2 (%) Al2O3 (%)
(m) (m)
01-Mar LD-19-016 2.9 15.0 12.1 11.0 P3 34.60 87.70 12.10 0.93 0.67 0.53
02-Mar 66.9 76.5 9.6 8.7 P2 47.60 87.60 11.80 1.16 0.87 0.76
03-Mar 119.0 124.5 5.5 5.0 P2 36.40 90.00 8.77 1.49 0.57 0.72
04-Mar 142.6 150.7 8.1 7.3 P1 28.60 91.00 8.51 1.48 0.57 0.71
05-Mar 173.7 186.0 12.3 11.2 P0 22.70 92.60 7.06 1.46 0.83 0.66
06-Mar LD-19-017 18.0 28.5 10.5 9.5 P2 39.60 90.30 8.60 1.35 0.98 0.74
07-Mar 39.0 50.4 11.4 10.3 P2 36.30 92.60 7.70 1.47 0.58 0.46
08-Mar 82.9 90.6 7.8 7.0 P1 21.00 93.90 5.22 1.62 0.64 0.57
09-Mar LD-19-033 123.0 132.0 9.0 8.2 P2 33.60 90.30 8.86 1.31 0.94 0.74
10-Mar 193.5 201.4 7.9 7.1 P1 16.20 91.10 7.55 1.40 1.15 0.54
11-Mar LD-19-034 99.1 107.9 8.8 8.0 P2 35.80 82.00 13.30 0.72 2.44 1.68
12-Mar 201.0 209.0 8.0 7.3 P2 24.90 94.40 5.47 1.52 0.85 0.53
13-Mar 248.3 257.4 9.1 8.3 P1 22.90 94.70 4.44 1.50 0.80 0.68
01-Apr LD-19-003 36.0 42.0 6.0 5.4 P3 47.23 85.20 11.50 0.99 1.69 1.31
02-Apr 47.3 48.0 0.7 0.6 P3 52.69 83.70 12.40 1.15 1.92 1.70
03-Apr 213.5 221.2 7.7 6.9 P1 26.39 89.10 7.29 1.42 2.25 1.89
04-Apr 228.0 229.5 1.5 1.4 P1 24.50 92.50 6.32 1.57 1.10 0.92
05-Apr LD-19-004 48.0 51.0 3.0 2.7 P2 64.67 90.40 6.70 1.43 1.17 1.52
06-Apr 97.9 98.9 1.0 0.9 P2 59.92 85.80 8.73 1.34 2.40 2.23
07-Apr 100.2 103.7 3.5 3.1 P2 13.41 92.10 5.96 1.37 1.58 1.23
08-Apr 103.7 104.8 1.2 1.0 P2 60.93 87.10 9.37 1.42 1.70 1.72
09-Apr 146.5 148.8 2.3 2.1 P1 36.51 94.20 2.02 1.59 1.84 1.54
10-Apr 148.8 154.5 5.7 5.2 P1 11.75 97.90 0.70 1.56 1.00 0.75
11-Apr 185.8 187.3 1.5 1.4 P1 6.28 98.00 1.16 1.51 0.94 0.71
12-Apr LD-19-025 45.2 56.5 11.4 8.7 P2 40.46 87.80 12.20 0.86 0.69 0.50
13-Apr 188.5 206.0 17.5 13.4 P2 41.67 90.40 6.49 1.42 1.71 1.55
14-Apr 248.4 254.3 5.9 4.5 P1 31.96 93.40 5.17 1.55 1.53 1.50
15-Apr LD-19-029 12.0 22.0 10.0 7.7 P3 40.05 85.00 12.90 0.81 1.62 1.16
16-Apr 109.0 123.0 14.0 10.7 P2 50.48 85.10 10.70 1.18 1.86 2.28
17-Apr 139.5 151.5 12.0 9.2 P2 46.87 85.00 11.40 1.28 1.64 2.04
18-Apr 178.5 183.0 4.5 3.5 P2 52.76 85.00 11.30 1.31 1.75 2.27
19-Apr 230.9 234.1 3.2 2.4 P2/P1 42.08 91.70 4.91 1.54 1.60 1.57
20-Apr 250.8 253.5 2.7 2.1 P1 31.32 92.70 6.99 1.51 0.55 0.49

Estimated true thickness is calculated 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-19-003, LD-19-004, LD-19-016, LD-19-017, LD-19-33, and LD-19-034, -60° for LD-19-025 and LD-19-029).

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 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-19-003 7.5 14.3 6.9 6.2 0.57 59.96 14.40 P3
INCLUDING 12.0 14.3 2.4 2.1 0.67 66.58 15.99
LD-19-003 34.2 51.3 17.1 15.5 0.59 57.10 13.22 P3
INCLUDING 47.3 49.9 2.6 2.3 0.73 65.86 15.16
LD-19-003 92.0 99.2 7.2 6.5 0.63 53.74 11.95 P2
LD-19-003 141.4 168.9 27.5 24.9 0.65 51.44 9.74 P2
INCLUDING 152.5 154.9 2.4 2.2 0.84 62.64 12.08
AND 157.7 162.0 4.3 3.9 0.86 62.25 11.64
AND 166.9 168.9 2.0 1.8 0.85 62.68 11.83
LD-19-003 178.1 198.4 20.4 18.4 0.69 50.41 8.89 P2
INCLUDING 178.1 183.4 5.4 4.8 0.82 60.12 11.02
AND 184.3 188.5 4.2 3.8 0.80 57.38 10.15
AND 194.6 198.4 3.9 3.5 0.91 63.24 10.94
LD-19-003 210.0 222.3 12.3 11.1 0.61 42.65 7.04 P2
INCLUDING 212.1 213.5 1.4 1.3 0.91 61.60 10.40
AND 216.0 218.2 2.2 2.0 0.80 54.74 9.12
AND 221.2 222.3 1.2 1.0 0.97 66.20 11.20
LD-19-003 228.0 232.6 4.6 4.2 0.78 54.04 8.89 P2
INCLUDING 229.5 232.6 3.1 2.8 0.88 60.84 10.06
LD-19-003 242.4 242.9 0.5 0.5 0.80 52.60 8.99 P1
LD-19-003 248.0 252.7 4.7 4.2 0.51 35.47 5.50 P1
LD-19-003 255.7 261.2 5.5 5.0 0.51 36.73 5.52 P1
INCLUDING 255.7 259.5 3.8 3.4 0.60 42.80 6.42
LD-19-003 314.3 316.5 2.2 1.9 0.43 28.29 4.79 P0
LD-19-004 2.2 10.2 8.0 7.3 0.59 46.34 8.22 P3
INCLUDING 2.2 5.9 3.7 3.4 0.71 54.57 10.14
INCLUDING 7.7 10.2 2.5 2.3 0.73 55.40 9.80
LD-19-004 44.1 51.0 6.9 6.3 0.97 70.13 11.76 P2
LD-19-004 91.5 104.8 13.3 12.1 0.56 40.34 6.65 P2
INCLUDING 93.0 93.7 0.7 0.6 0.93 66.60 11.10
AND 97.9 100.2 2.3 2.1 0.83 58.77 9.69
AND 103.7 104.8 1.2 1.0 0.96 67.60 11.10
LD-19-004 112.5 116.5 4.0 3.6 0.76 53.91 8.65 P2
INCLUDING 113.9 116.5 2.6 2.4 0.86 60.66 9.73
LD-19-004 137.5 157.5 20.0 18.1 0.45 33.18 5.00 P1
INCLUDING 137.5 146.5 9.0 8.2 0.52 36.97 5.62
AND 146.5 148.8 2.3 2.1 0.76 53.27 8.35
LD-19-004 187.3 189.6 2.3 2.1 0.43 29.70 4.68 P1
LD-19-005 25.1 27.9 2.8 2.5 0.43 52.76 11.84 P2
LD-19-005 35.1 38.9 3.9 3.5 0.70 68.94 16.75 P2
LD-19-005 54.2 56.9 2.8 2.5 0.60 57.42 13.48 P2
LD-19-005 59.6 76.5 16.9 15.3 0.51 53.92 12.55 P2
INCLUDING 64.0 74.2 10.3 9.3 0.57 59.35 14.11
LD-19-005 79.8 80.6 0.8 0.7 0.71 61.90 15.00 P2
LD-19-005 83.1 84.0 0.9 0.8 0.55 54.80 12.90 P2
LD-19-005 88.1 108.7 20.6 18.7 0.53 52.68 11.55 P2
INCLUDING 88.1 99.8 11.8 10.6 0.63 61.45 13.92
AND 104.2 106.1 1.9 1.7 0.69 62.91 14.11
AND 107.6 108.7 1.1 1.0 0.69 60.20 13.70
LD-19-005 121.3 135.9 14.6 13.2 0.61 53.21 11.56 P2
LD-19-005 143.2 173.7 30.5 27.6 0.69 53.59 10.59 P2
INCLUDING 164.0 166.3 2.3 2.1 0.86 63.09 12.10
AND 170.4 173.4 3.0 2.7 0.70 52.80 9.68
LD-19-005 181.4 202.4 21.0 19.0 0.74 51.62 9.32 P2
INCLUDING 183.7 184.8 1.1 1.0 0.97 67.80 12.40
AND 189.4 193.6 4.2 3.8 0.85 58.15 10.64
AND 200.3 202.4 2.2 1.9 1.00 67.07 11.92
LD-19-005 211.6 214.3 2.7 2.4 0.67 45.97 7.71 P2
LD-19-005 218.3 223.4 5.1 4.6 0.59 42.16 6.79 P1
INCLUDING 219.6 220.3 0.8 0.7 1.00 70.10 11.10
AND 222.6 223.4 0.8 0.7 0.96 66.60 10.80
LD-19-005 227.6 230.1 2.5 2.3 0.81 56.86 9.11 P1
LD-19-005 243.0 254.0 11.0 10.0 0.48 35.11 5.28 P1
INCLUDING 251.0 252.4 1.4 1.3 0.73 51.90 7.83
LD-19-005 257.4 259.5 2.1 1.9 0.34 26.24 3.81 P1
LD-19-005 262.5 265.0 2.5 2.3 0.34 25.22 3.72 P1
LD-19-008 2.4 37.6 35.2 31.9 0.45 52.21 12.67 P2
INCLUDING 8.0 19.2 11.2 10.2 0.53 60.40 15.48
AND 30.0 37.6 7.6 6.9 0.52 57.75 13.80
LD-19-008 43.1 71.3 28.2 25.6 0.60 56.29 12.64 P2
INCLUDING 58.5 64.5 6.0 5.4 0.75 66.53 15.23
LD-19-008 79.6 120.5 40.9 37.1 0.69 53.77 10.64 P2
INCLUDING 102.0 109.5 7.5 6.8 0.74 55.00 10.78
AND 115.3 120.5 5.3 4.8 0.81 59.91 10.85
LD-19-008 129.8 138.1 8.3 7.5 0.71 52.32 9.03 P2
LD-19-008 140.3 149.2 8.9 8.1 0.61 45.18 7.51 P2
LD-19-008 156.9 167.8 10.9 9.9 0.57 41.29 6.56 P2
LD-19-008 172.2 175.8 3.6 3.2 0.78 55.63 8.67 P1
LD-19-008 191.1 203.0 11.9 10.8 0.49 34.89 5.28 P1
LD-19-008 230.2 234.0 3.8 3.4 0.44 31.44 4.54 P0
LD-19-013 89.2 115.2 26.1 20.0 0.61 58.43 13.56 P2
INCLUDING 111.0 114.0 3.0 2.3 0.72 60.95 14.00
LD-19-013 142.4 185.2 42.8 32.7 0.73 55.72 11.21 P2
INCLUDING 171.0 175.8 4.8 3.6 0.82 60.87 11.81
AND 181.5 185.2 3.7 2.8 0.86 61.98 11.63
LD-19-013 191.8 209.7 17.9 13.7 0.70 51.63 9.01 P2
INCLUDING 191.8 195.0 3.2 2.5 0.84 61.44 11.01
AND 199.5 202.5 3.0 2.3 0.84 60.00 10.59
AND 208.5 209.7 1.2 0.9 0.94 66.70 11.30
LD-19-013 216.0 225.3 9.3 7.1 0.60 42.70 7.04 P1
LD-19-015 4.7 7.4 2.7 2.3 0.44 49.40 12.57 P3
LD-19-015 73.3 80.7 7.4 6.4 0.49 50.74 11.83 P2
INCLUDING 75.0 77.5 2.5 2.2 0.64 63.62 15.26
LD-19-015 88.4 136.5 48.2 41.7 0.68 54.73 11.26 P2
INCLUDING 96.0 102.0 6.0 5.2 0.75 66.20 14.50
AND 118.5 128.3 9.8 8.5 0.76 58.20 11.04
AND 132.4 136.5 4.2 3.6 0.80 58.85 10.63
LD-19-015 146.9 150.0 3.1 2.7 0.41 31.96 5.31 P2
INCLUDING 155.4 171.3 15.9 13.8 0.68 49.29 8.32 P2
AND 155.4 158.3 2.9 2.5 0.84 60.15 10.55
AND 161.2 164.0 2.8 2.4 0.79 56.55 9.70
AND 169.7 171.3 1.6 1.4 0.95 66.80 11.10
LD-19-015 180.2 193.0 12.8 11.1 0.52 37.63 5.97 P2
INCLUDING 181.2 185.4 4.2 3.6 0.66 46.60 7.46
AND 190.8 193.0 2.2 1.9 0.65 47.22 7.53
LD-19-015 223.5 234.4 10.9 9.4 0.50 35.72 5.36 P1
INCLUDING 223.5 225.0 1.5 1.3 0.65 44.80 6.95
LD-19-018 10.3 17.7 7.5 6.8 0.41 54.34 13.22 P3
LD-19-018 21.8 44.9 23.0 20.9 0.51 56.49 13.56 P2
INCLUDING 40.5 43.2 2.7 2.5 0.67 65.09 15.58
LD-19-018 74.0 118.9 44.9 40.7 0.62 50.00 9.32 P2
INCLUDING 83.0 86.0 3.0 2.7 0.73 59.10 11.65
AND 91.5 98.2 6.7 6.0 0.72 55.82 10.48
AND 102.5 103.6 1.1 1.0 0.89 65.70 11.60
LD-19-018 124.4 132.2 7.8 7.1 0.61 44.96 7.07 P2
INCLUDING 128.8 129.7 0.9 0.8 0.90 63.80 10.30
AND 131.7 132.2 0.6 0.5 1.01 69.50 11.30
LD-19-018 135.8 138.5 2.7 2.5 0.82 58.59 9.07 P1
INCLUDING 137.5 138.5 1.0 0.9 0.91 63.80 9.88
LD-19-018 148.0 153.9 5.9 5.3 0.54 38.73 5.78 P1
INCLUDING 152.1 153.9 1.8 1.6 0.78 55.09 8.23
LD-19-021 12.0 43.0 31.0 28.1 0.44 49.60 11.60 P3
INCLUDING 19.8 34.4 14.6 13.2 0.50 54.84 13.17
AND 34.7 39.9 5.2 4.7 0.59 59.77 14.13
LD-19-021 48.0 63.3 15.3 13.9 0.46 47.21 10.36 P2
INCLUDING 48.0 51.6 3.6 3.3 0.61 62.36 13.97
AND 59.9 63.3 3.4 3.1 0.58 55.70 12.65
LD-19-021 81.8 122.0 40.2 36.4 0.62 51.55 10.08 P2
INCLUDING 81.8 85.7 3.9 3.5 0.73 64.96 14.64
AND 87.8 99.9 12.1 11.0 0.69 57.15 12.02
AND 104.3 115.5 11.2 10.2 0.73 55.92 10.69
AND 121.0 122.0 1.0 0.9 0.90 66.50 11.80
LD-19-021 128.1 151.5 23.4 21.2 0.46 36.78 5.68 P2
INCLUDING 132.6 135.6 3.0 2.7 0.66 49.55 8.28
AND 148.6 151.5 2.9 2.6 0.67 49.94 8.02
LD-19-021 158.5 171.0 12.5 11.3 0.39 32.10 4.39 P1
LD-19-021 185.2 188.4 3.2 2.9 0.56 41.50 5.99 P1
LD-19-021 200.3 206.3 6.0 5.4 0.49 34.40 5.20 P1
LD-19-021 209.8 212.1 2.3 2.1 0.29 22.05 3.21 P1
LD-19-021 232.9 236.2 3.3 3.0 0.62 38.36 6.42 P0
LD-19-032 109.9 142.0 32.1 29.1 0.62 46.78 8.88 P2
INCLUDING 111.5 117.5 6.0 5.4 0.74 59.03 12.30
AND 120.8 125.2 4.4 4.0 0.80 59.31 11.37
AND 137.0 139.5 2.5 2.3 0.81 56.20 10.00
AND 141.3 142.0 0.7 0.6 0.94 62.30 11.20
LD-19-032 149.2 153.1 4.0 3.6 0.62 47.24 7.11 P2
INCLUDING 151.0 153.1 2.1 1.9 0.86 60.20 9.71
LD-19-032 165.0 177.0 12.0 10.9 0.50 34.89 5.42 P2
INCLUDING 172.5 173.5 1.0 0.9 0.81 54.70 8.40
LD-19-032 178.5 183.0 4.5 4.1 0.32 24.77 3.56 P1
LD-19-035 32.9 39.4 6.5 5.3 0.25 46.42 9.04 P3
LD-19-035 47.5 100.6 53.1 43.5 0.43 48.01 11.09 P2
INCLUDING 78.5 86.1 7.6 6.2 0.68 65.76 15.98
AND 96 97.8 1.8 1.5 0.76 69.92 17.04
AND 99 100.6 1.6 1.3 0.71 66.58 16.04
LD-19-035 104.9 107.5 2.6 2.1 0.53 55.43 11.48 P2
LD-19-035 110.3 154.9 44.6 36.5 0.65 54.12 11.61 P2
INCLUDING 116.8 154.9 38.1 31.2 0.70 57.59 12.33
LD-19-035 164.2 193.1 28.9 23.7 0.67 51.63 9.77 P2
INCLUDING 164.2 170.2 6 4.9 0.71 54.17 10.68
AND 174 185.6 11.6 9.5 0.78 58.58 11.30
AND 187.7 193.1 5.4 4.4 0.75 54.37 10.05
LD-19-035 199 218.6 19.6 16.1 0.59 43.51 7.17 P2
INCLUDING 201.5 204.5 3 2.5 0.79 57.20 10.10
AND 210.9 211.6 0.7 0.6 0.89 63.30 10.30
AND 217.6 218.6 1 0.8 0.83 61.00 9.50
LD-19-035 224 232.3 8.3 6.8 0.54 39.47 6.11 P1
INCLUDING 224 228.3 4.3 3.5 0.77 53.97 8.56 P1
LD-19-035 247.8 255.9 8.1 6.6 0.53 38.06 5.77 P1
LD-19-035 262.6 264.9 2.3 1.9 0.51 36.42 5.46 P0
LD-19-035 273.9 277.9 4 3.3 0.32 23.59 3.50 P0

* True thickness is 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-19-003, LD-19-004, LD-19-005, LD-19-008, LD-19-018, LD-19-021 and LD-19-32, -50° for LD-19-015, -55º for LD-19-035 and -60º for LD-19-013).

  • LD-19-003 drilled at -45o to a depth of 375 m
  • LD-19-004 drilled at -45o to a depth of 240 m
  • LD-19-005 drilled at -45o to a depth of 270 m
  • LD-19-008 drilled at -45º to a depth of 246 m
  • LD-19-013 drilled at -60º o to a depth of 231 m
  • LD-19-015 drilled at -50o to a depth of 252 m
  • LD-19-018 drilled at -45o to a depth of 180 m
  • LD-19-021 drilled at -45º to a depth of 246 m
  • LD-19-032 drilled at -45o to a depth of 201 m
  • LD-19-035 drilled at -55o to a depth of 279 m

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 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 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-19-003 and LD-19-004

Figure 3: Section LD-19-005

Figure 4: Section LD-19-008

Figure 5: Section LD-19-013

Figure 6: Section LD-19-015

Figure 7: Section LD-19-018

Figure 8: Section LD-19-021

Figure 9: Section LD-19-032

Figure 10: Section LD-19-035

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

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 an integrated technology and mining company focused on developing an exclusive clean energy storage supply chain with XRG® vanadium redox flow battery technology, jointly owned process technology and it’s wholly owned and strategic vanadium resource base in mining friendly Quebec, Canada. The Company’s key mining assets contain vanadium, titanium and iron in VTM and include the Lac Doré Project adjacent to Blackrock Metals Inc. and the Iron-T Project near the Glencore (Bracemac-McLeod) Matagami Copper-Zinc Mine.

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) accept 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.