Business
Delrey Metals Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC Pink: DLRYF) ("Delrey" or the "Company") is pleas
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 5, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC Pink: DLRYF) (\"Delrey\" or the \"Company\") is pleased to provide a corporate update regarding 2019 exploration activities on its flagship Fe-Ti-V Four Corners Project, located near Stephenville, Newfoundland and Labrador, as well as its wholly-owned Peneece property, located near Port Hardy, British Columbia. Highlights Delrey to complete up to 5,000m of drilling over a proposed 20 drill holes, and 1,600m of trenches on the Four Corners Project during the 2019 exploration season, with work focusing on the Keating Hill East, Four Corners, and Bullseye Zones. 2019 drilling designed to complete infill and step out drill targets as necessary to advance project towards a maiden NI 43-101 resource calculation. 2012 initial SRK Consulting (Canada) Inc.'s metallurgical results returned a magnetic concentrate grading 63.10% Fe, and 0.643% V205, as well as a low intensity magnetic concentrate returning an impressive 26.80% Ti02, at an 80% recovery. Permit Application The Company has submitted an application to the Newfoundland and Labrador Department of Natural Resources to establish up to 20 drill sites, and 1,600m of trenches over the Projects Four Corners, Bullseye, and flagship Keating Hill East Zones. The Newfoundland and Labrador Department of Natural Resources are well known for their expediency with respect to permitting applications and Delrey anticipates receiving permits over the coming weeks with a planned drilling start date of July 15, 2019. The Company also recently submitted an application form to the province's Junior Exploration Assistance Program which provides financial support of 40-75% of approved exploration costs, to a maximum of $150,000/year, for projects located on the island of Newfoundland. Recent Surge in Iron Prices The Company is very pleased with the recent surge in iron prices above $100USD/tonne which adds significant value to the Four Corners Project, highlighted by SRK Consulting (Canada) Inc.'s initial metallurgical results, which returned a magnetic concentrate grading an impressive 63.10% Fe, and 0.643% V205. The Company also believes the Projects Ti02 potential has been overlooked at this point, with the same report returning a composite sample head grade of 9.8% Ti02, with a Wet High I...