VanadiumCorp is pleased to announce a non-brokered flow-through financing of up to $1 million and non-flow-through financing of up to $3 million for a total aggregate of up to $4 million. And announces new Quebec director.
VANCOUVER, BRITISH COLUMBIA, June 09, 2017 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce sample production of vanadiferous titanomagnetite “VTM” concentrate for integration into phase II of VanadiumCorp-Electrochem Technology has commenced. In April 2017, IOS Services Geoscientifiques Inc. “IOS” in Saguenay, Quebec was mandated by VanadiumCorp to produce a clean VTM concentrate from drill core of The Company’s 100% owned Lac Dore Vanadium Project in Quebec, Canada. Phase I testing by VanadiumCorp-Electrochem Technology established required specifications to be met for feedstocks for further processing. Aside from grain size and purity controls, iron filing is eliminated from VTM concentrate produced from the milling circuit by utilizing ceramic-based equipment. The VTM concentrate is transported to Boucherville, Quebec for direct processing with VanadiumCorp-Electrochem Technology.
VanadiumCorp is partnered with Electrochem for development of patent-pending and patented technologies to develop high performance vanadium electrolyte for energy storage and solving conventional supply chain constraints by enabling a wider spectrum of raw materials and several diversified products. The entire process is 100% green with zero emissions and low energy consumption. The first stage of the technology converts VTM concentrate into copperas crystal. High purity iron is then recovered by electro-winning while vanadium remains in solution and titanium dioxide is left as marketable residue. The process is expected to be applicable to various types of feedstock, such as:
- VTM from 100% owned Lac Dore Vanadium Project – Preliminary economic assessment pending
- VTM from 100% owned Iron-T vanadium project – Re-evaluation pending
- Calcine from existing primary vanadium producers
- VTM slag from existing steel, iron and vanadium producers
- Fly ash waste from oil producers
- Mining and industrial waste from other multicommodity producers
Conventional pyrometallurgical processes used for vanadium, titanium and steel production utilize either direct soda ash roasting of the magnetite followed by water leaching, or the arc smelting and slagging of the magnetite followed by soda ash roasting of the vanadium-rich slag. Smelting or roasting is capital intensive, energy intensive, with high operating costs, technical risks and significant emissions of greenhouse gases that add to other environmental issues. Hydrometallurgical processes for the extraction of vanadium have been proposed in the last decade as a higher efficiency alternative in replacement of the conventional processes but failed to be robust without iron production and acid recycling. The Vanadiumcorp-Electrochem Technology addresses these key issues and allows the full recovery of vanadium chemicals used for preparing Vanadiumcorp ElectrolyteTM as well as the concurrent production of a high quality and competitive iron co-product.
Electrochem Technologies & Materials Inc. is a research and development company that invents, develops, patents, scales-up and commercializes proprietary metallurgical and electrochemical technologies that are innovative, and sustainable. VanadiumCorp-Electrochem Technology is located at Electrochem’s facilities in Boucherville, Quebec.
The Vanadiumcorp plan for Canada includes 100% owned NI 43-101 vanadium-iron-titanium resources, green process technology and global partnerships. Vanadiumcorp ElectrolyteTM can be reused indefinitely by vanadium redox flow batteries and represents a unique opportunity for cost reduction potential and increase of battery life.
This release was approved by Mr. Rejean Girard, P. Geo. Mr. Girard is a qualified person as defined by National Instrument 43-101.
On behalf of the board of VanadiumCorp:
Adriaan Bakker, President and Chief Executive Officer
For more information, contact VanadiumCorp:
John Hewlett, Director, Business Development
By phone: 604-560-8251
By email: email@example.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.