Welcome!

News Feed Item

VanadiumCorp Resource Inc.: Lac Dore NI 43-101 Technical Report Recommends and Outlines Development to Production

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/24/14 -- VanadiumCorp Resource Inc. (TSX VENTURE: VRB) (the Company) is pleased to report that the first-ever Lac Dore NI 43-101 Technical Report is complete. The Report exceeds the usual requirement of a standard NI 43-101 technical report, in the sense it provides an extensive review of the metallurgy of vanadium extraction as well as a market outlook. Its author, Rejean Girard, President of IOS Geoscientifique Inc. (IOS), had access to completed works spanning more than 60 years, over 200 archived reports, which includes 8 different pre-NI 43-101 non-current resource calculations. The Lac Dore project has now reached a new level of compliance to achieve "advanced stage" status, significantly decreasing the timeline to production.

Mr. Girard, who has had intimate knowledge and experience of Lac Dore since 1997, refers to the Lac Dore Project as "one of the largest undeveloped primary sources of vanadium in the world" and "an advanced-stage project that can be quickly brought into development." He concludes: "There is no doubt in the author's mind that abundant resources are present and these resources shall be of sufficient quality, grade and quantity to justify an economically viable production of high-purity vanadium."

The Report enables the Company to proceed directly to resource calculations. No supplementary drilling is needed, years of expensive drilling campaigns to establish a resource are not required. The Report has unlocked all of the relevant past data and knowledge that is technically in the public domain but accessible to very few people. VanadiumCorp has authorized immediate claim expansion that facilitates preparation for eventual mine planning.

Highlights of the Lac Dore NI 43-101 report include:


--  54 drill holes and 27 trenches with 3D modeling
--  Vanadium concentrate grade averaging 1.2 - 1.4%
--  8 historic resource calculations, the two latest conducted on standards
    almost compatible to CIM guidelines, although they cannot be considered
    as current NI-43-101 compliant
--  Over 200 reports dealing with exploration, drilling, metallurgy and
    economical aspects
--  Access to forecast rail spur, 161Kv power and new roads
--  Entire history of development from 1948
--  Vanadium extractive metallurgy review
--  Extensive beneficiation, smelting and salt-roasting testing by various
    groups
--  Ground and airborne geophysical surveys
--  Historical economic studies and feasibility studies
--  Current claim expansion underway
--  Comparable projects
--  2014 vanadium market study
--  Nearby infrastructure and permitting
--  Adjacent mine development and analysis
--  Conversion process for high-purity vanadium electrolyte can be easily
    redone
--  Commercialization of VRB and LVP batteries in North America depends on
    large-scale domestic primary production of high-purity vanadium
--  Recommendations and specific budgets to complete resource calculations
    and a PEA by end of 2014
--  Recommendations regarding the update or completion of a feasibility
    study

Adriaan Bakker, CEO of VanadiumCorp, states: "The first NI 43-101 Report ever completed at Lac Dore far exceeds expectations by dramatically reducing budgets, timelines and work necessary for our goal of taking the Lac Dore deposit to production. Production at Lac Dore would represent the first large-scale primary source of vanadium in North America. Alleviating the North American dependence on disruptive foreign supply of vanadium would provide price stability, security and independence. The Lac Dore deposit has the supply and scale for North America to make vanadium-strengthened steel, and vanadium batteries, a reality for years to come."

Regarded as a "super metal", vanadium is the number-one steel strengthener in the world and is internationally acclaimed as the "ultimate energy storage solution". The vision of VanadiumCorp is to become the lowest cost, primary producer of vanadium in the world.

(This release was approved by Mr. Rejean Girard, P. Geo. Mr. Girard is a qualified person as defined by National Instrument 43-101.)

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 Note Regarding Forward-Looking Statements

The information in this news release includes certain "forward-looking statements". All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the company's properties, statements regarding intentions with respect to obligations due for various projects, strategic alternatives, quantity of resources or reserves, timing of permitting, construction and production and other milestones, are forward looking statements. Statements concerning resource calculations and production are also forward-looking statements in that they reflect an assessment, based on certain assumptions, of the mineralization that would be encountered and mining results if the project were developed and mined in the manner described. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from VanadiumCorp's expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and local groups in the exploration, and development of properties; and the need to obtain permits and governmental approval. VanadiumCorp's forward looking statements reflect the beliefs, opinions and projections of management on the date the statements are made. VanadiumCorp assumes no obligation to update the forward looking statements if management's beliefs, opinions, projections, or other factors should they change.

Contacts:
VanadiumCorp Resource Inc.
Adriaan Bakker
CEO
604-385-4485
www.vanadiumcorp.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, shared the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...