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Cornerstone Metals Completes Major Milestone at its Carlin Vanadium Project in Nevada Infill Drilling Completed as Company Moves to Next Phase
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2018) - Cornerstone Metals Inc. (T...
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[{"type":"text","content":"Cornerstone Metals Completes Major Milestone at its Carlin Vanadium Project in Nevada Infill Drilling Completed as Company Moves to Next PhaseVancouver, British Columbia--(Newsfile Corp. - February 8, 2018) - Cornerstone Metals Inc. (TSXV: CCC) (OTCQB: CCCCF) (FSE: 1PY) (\"Cornerstone\" or the \"Company\") announces that it has completed the infill diamond drilling program on its Carlin Vanadium Project with the completion of 20 vertical holes in 1629.61 metres of HQ core.The Carlin Vanadium Project contains one of North America's largest, richest known primary deposits of vanadium with unsurpassed accessibility. The deposit has a historic Inferred mineral resource estimate of 28 million tons at 0.515% vanadium pentoxide (V2O5), having a total metal content of 289 million pounds V2O5, based on a 0.3% V2O5 cut-off grade. The historical estimate does not include any recent data available to the Company. The Company is not treating this historical estimate as current mineral resources and as such, should not be relied upon. The work needed to upgrade the historical estimate as current mineral resources is to use current costs and metal prices and include the results from the infill diamond drilling program.Vanadium is also growing in importance to key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 85 percent of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 10 percent of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.The objective of the infill drilling program was to verify the Carlin Vanadium Deposit model and grade and increase confidence in the vanadium deposit that had been defined by 152 holes completed by Union Carbide in the late 1960s. The recent infill drilling program has tightened the drill spacing from the systematic 60 metre to 45 metre centres along the spine of the deposit. Lithological aspects of the deposit have been visually verified by the core program. Samples from the infill drilling program are in the lab, with the final holes making their way there shortly. \"Another planned milestone has been reached with the completion of this drill program, with the next milesto...