VanadiumCorp Closes $1 Million Private Placement
VANCOUVER, BRITISH COLUMBIA – June 17, 2020 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the Company”) is pleased to announce it has engaged Vancouver- based mining consulting firm CSA Global to carry out a Mineral Resource Estimate on the Company’s Lac Doré Vanadium property. Work on the Mineral Resource Estimate is expected to commence as soon as the complete assay results from the two remaining drill holes from the summer-fall 2019 infill and extension drilling program (total: 37 holes) are received. The maiden mineral resource estimate for the Lac Doré Vanadium property will be prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
CSA Global (an ERM Group Company) is an international mining consulting company that provides technical and expert services, training, and independent corporate advice to public and private mining companies, financial and legal groups. CSA has provided services to clients across all mineral commodities and regions globally for over 35 years. The work on the Mineral Resource Estimate will be led by Dr. Luke Longridge, a senior structural and economic geologist with CSA Global. Dr. Longridge has extensive experience exploring for and developing vanadiferous titanomagnetite deposits, having formerly worked as Exploration Manager for Bushveld Minerals before moving to Canada. Dr. Longridge is a registered Professional Geoscientist (P.Geo) in British Columbia and Québec.
Mr. Adriaan Bakker, President, and CEO of VanadiumCorp states, “We are pleased to have engaged CSA Global to prepare the maiden mineral resource estimate (MRE) for our Lac Doré Vanadium property. The MRE is an important piece of work that will be required by the Company to advance the project onto the preliminary economic assessment, the next stage of the resource appraisal process. We look forward to CSA Global completing the maiden MRE for Lac Doré by year-end 2020.”
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:
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.
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.