Business
Western Uranium & Vanadium Provides Sunday Mine Complex Vanadium Project Update
TORONTO, March 13, 2019 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or ”Company”) provides a shareholder update re
About this update from Western Uranium & Vanadium Corp.
[{"type":"text","content":" TORONTO, March 13, 2019 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or ”Company”) provides a shareholder update regarding its previously announced plan to re-open the Sunday Mine Complex (“SMC”) for a vanadium project. Over the last several months, Western has advanced the re-opening of the SMC by: Preliminary Mine Planning and Budgeting; Evaluation of Equipment and Personnel Requirements and Availability; Pursuing Project Funding Options; and Expanding Vanadium Marketing Opportunities. The SMC Vanadium Project will be commenced within weeks of satisfactory project funding. The primary goals to be completed during the following six to nine months are: Identification of High-Grade Vanadium Zones measured by X-Ray Fluorescence Technology and Sample Assay Analysis; Long-Hole Drilling and Bulk Sampling from the Extensive Underground Mine Workings of the Sunday Mine Complex; Expand Resource Estimates with New Defined High-Grade Vanadium Resource. Delivery of Samples to Various Vanadium Processors and End-Users for Analysis; and Negotiation of Vanadium Term Contracts to catalyze Mine Production. Vanadium pentoxide prices have increased significantly over the past several years to a current level over $17 per pound of V2O5. Independent market analysis by several recognized organizations suggest sustained vanadium price levels for the next three to five years. Western management believes these market conditions would make SMC vanadium production attractive over this period. As Western advances with its plans for re-opening of the SMC and is able to report on the timing of preparations, anticipated start dates and other milestones, Western will provide shareholders and investors with further updates. About Western Uranium & Vanadium Corp. Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of Ablation Mining Technology. Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statem...