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First Vanadium Corp. Files NI 43-101 Technical Report for the Carlin Vanadium Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2019) - First Vanadium Corp. (TSXV: ...
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[{"type":"text","content":"First Vanadium Corp. Files NI 43-101 Technical Report for the Carlin Vanadium Project, NevadaVancouver, British Columbia--(Newsfile Corp. - April 10, 2019) - First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (\"First Vanadium\" or the \"Company\") is pleased to announce that a National Instrument 43-101 Technical Report titled \"NI 43-101 Technical Report, Carlin Vanadium Project, Carlin, Nevada\" has been filed on SEDAR (www.sedar.com).The report documents a maiden mineral resource estimate (Table 1) completed by SRK Consulting (U.S.), Inc. (\"SRK\") on the Carlin Vanadium Deposit located 6 miles south of Elko, Nevada, as initially reported by way of the Company's news release dated February 27, 2019. Table 1. Carlin Vanadium Mineral Resource Statement at 0.3% V2O5 Cut-off grade (CoG) (Effective January 31, 2019)ClassificationCoG (% V2O5)Grade (% V2O5 )Tons (in millions)V2O5 lb (in millions) Indicated0.30.61524.64303Inferred0.30.5207.1975Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the Inferred Resources tabulated above as an Indicated or Measured Mineral Resource. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.The mineral resources listed in Table 1 are confined within a Whittle Pit Shell with a 45⁰ pit slope and a strip ratio of 2.6:1 waste to ore including all categories. The following parameters were used to construct the Whittle pit shell and to derive the mineral resource cut-off grade of 0.3% V2O5: Metal prices: US$12.50/lb V2O5 flake, Mining: US$2.50/t, Processing: US$52.50/t, G&A: US$1.50/t, Product Transport: $2.00/t, Process Recovery: 85%.Contained pounds may not add due to rounding.This is the first time Indicated mineral resources have been established for the deposit. The resource as defined within the pit shell has a defined strike length of approximately 1,830 metres (6,000 ft) a...