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Delrey Metals Signs Definitive Agreement on the Four Corners Vanadium-Iron-Titanium Project in Newfoundland
Increases Land Position by over 50% Vancouver, British Columbia--(Newsfile Corp. - May 21, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC: DLRYF) ("Del
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Increases Land Position by over 50% Vancouver, British Columbia--(Newsfile Corp. - May 21, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE: 1OZ) (OTC: DLRYF) (\"Delrey\" or the \"Company\") is pleased to announce that, further to its news release on March 21, 2019 and subsequent clarification of that news release dated March 22, 2019, it has entered into a definitive property option agreement (the \"Definitive Agreement\") 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 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 East Zone, with a potential strike length in excess of 4.5 kilometers, as well as four other Fe-Ti-V mineralized zones on the Project which have never been drill tested. Global firm SRK Consulting (US) Inc. (\"SRK\") report notes positive vanadium recoveries of >90% in 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 and Labrador, 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 select 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. Work in 2012 by SRK noted a highly favourable hillside mining architecture exists on the project. Excellent community relations with strong support for the development of the Project. 2019 field season will include drilling aimed at expanding Fe-Ti-V mineralization at the Keating Hill East Zone, as well additional exploration over the four other target zones on the Project. Morgan Good, President and Chief Executive Officer of the Company, commented: \"Finalizing the Definitive Agreement with Triple Nine Resources on The Four Corners Project, an...