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Delrey Metals Announces Signing of Term Sheet on the Four Corners Vanadium-Iron-Titanium Project in Newfoundland and Labrador Retains Omni8 Media to Manage Marketing and Communications Initiatives
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC PINK: DLRYF) ("Delrey" or the "Company") is ple
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 21, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC PINK: DLRYF) (\"Delrey\" or the \"Company\") is pleased to announce the signing of a non-binding term sheet (the \"Term Sheet\") with respect to the right and option to acquire an 80% interest (the \"Option\") in and to certain mineral licences which comprise the Four Corners Project, as more fully described below (the \"Project\"), from Four Corners Mining Corporation/Triple Nine Resources Ltd. (the \"Optionor\") and to establish a joint venture therewith (the \"Joint Venture\"). Highlights of the Four Corners Project: Strong drill defined vanadium mineralization at the Keating Hill Zone, with a potential strike length in excess of 4.5 kilometers, as well as four other vanadium mineralized zones on the Project which have never been drill tested. Independent interpretation and modeling by SJ Geophysics demonstrates that 5 target zones on the Project could potentially host in excess of 10 billion tonnes of mineralized rock. Work in 2012 by global firm SRK Consulting (US) Inc. (\"SRK\") noted a highly favourable hillside mining architecture exists on the project. SRK report notes positive vanadium recoveries of 90% from preliminary metallurgical tests. The Burgeo Highway provides access to an ice-free deep water port within 40 km of the Project, as well as a commercial airport and industrial service centre at Stephenville, Newfoundland, which could act as a potential brownfield site for primary and secondary processing. Low exploration and development costs with no need for helicopter or camp support, and an additional rebate of up to 50% of exploration expenditures from the Newfoundland and Labrador government under the Junior Exploration Assistance Program. Newfoundland and Labrador consistently rated as one of the top mining jurisdictions in the world by the Fraser Institute. Excellent community relations with strong support for the development of the Project. Drilling planned for 2019 to add to the currently defined vanadium mineralization at Keating Hill as well as test four other large targets zones on the Project. Victor French, President and COO of Four Corners Mining Corporation/Triple Nine Resources Ltd. states: \"The Four Corners Vanadium project is one of the largest and most accessible vanadium projects in...