{"id":1103293,"date":"2019-03-04T17:32:02","date_gmt":"2019-03-04T17:32:02","guid":{"rendered":"http:\/\/resourceworld.com\/?p=55063"},"modified":"2019-03-04T17:32:02","modified_gmt":"2019-03-04T17:32:02","slug":"first-vanadium-unveils-resource-estimate-in-nevada","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1103293","title":{"rendered":"First Vanadium unveils resource estimate in Nevada"},"content":{"rendered":"
\"\"<\/a><\/p>\n

First Vanadium president and CEO Paul Cowley at the Carlin vanadium project in Nevada. Credit: First Vanadium.<\/p>\n<\/div>\n

First Vanadium Corp. [FVAN-TSXV, FVANF-OTCQX, 1PY-FSE] has announced a maiden resource estimate for its Carlin Vanadium deposit near Elko Nevada, a move that coincides with a steep rise in the value of the company\u2019s stock price.<\/span><\/p>\n

The company said the National Instrument 43-101-compliant estimate was completed by SRK Consulting (U.S.) Inc. and replaces an earlier estimate that was announced in 2010.<\/span><\/p>\n

As of February 1, 2019, First Vanadium has outlined an indicated resource of 24.64 million tonnes of grade 0.615% V205 or 303 million pounds using a cut-off grade of 0.3% V205.\u00a0 <\/span>On top of that is an inferred resource of 7.19 million tonnes of 0.520% vanadium or 75 million pounds.<\/span><\/p>\n

The deposit is now considered to be the largest, highest grade primary vanadium deposit in North America, First Vanadium said in a press release on February 27, 2019.<\/span><\/p>\n

Investors have reacted by sending the share price up strongly in recent trading. On Monday, March 4, 2019, the share price jumped 9.76% to 90 cents. That is up from 49 cents on February 21, 2019.\u00a0 <\/span>The shares trade in a 52-week range of $1.96 and 31 cents.<\/span><\/p>\n

Vanadium is growing in importance for key industrial manufacturing sectors, notably in steel and renewable energy. More than 85% of the world\u2019s vanadium is used in steel manufacturing applications.<\/span><\/p>\n

Its importance to the energy sector is also growing rapidly with more than 10% 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.<\/span><\/p>\n

In the last three years, prices for 98% flake V205 have steadily risen from under US$2 a pound to US$27.45, and now sits at US$17.60.<\/span><\/p>\n

The Carlin Vanadium deposit is a black shale-hosted flat to shallow dipping vanadium deposit located a shallow depths, from zero to 60 metres below surface.<\/span><\/p>\n

It is located on a property that consists of 72 unpatented mining claims, covering 1,140 acres.\u00a0 <\/span>First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin project, which is located six miles south of the mining community of Carlin, Nevada.<\/span><\/p>\n

The deposit was discovered by Union Carbide Corp. in the 1960s via 127 rotary drill holes. First Vanadium is now aiming to fast track the project in a bid to unlock its value.<\/span><\/p>\n

\u201cOur maiden resource estimate far exceeds our expectations,\u201d said First Vanadium President and CEO Paul Cowley. \u201cApproximately 77% of the estimation reports to the indicated category, grades are higher than expected in the indicated category, and contained pounds of V205 metal in the deposit in both indicated and inferred categories are higher than expected.\u201d<\/span><\/p>\n

First Vanadium said this marks the first time that indicated mineral resources have been established for the deposit. It said the estimate is justified by the company\u2019s two drilling campaigns, comprised of 89 holes. That program verified historic drilling, twinned six holes, either replacing or demonstrating improved grade, and in-filled to tighten the previous drill pattern.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

First Vanadium Corp. [FVAN-TSXV, FVANF-OTCQX, 1PY-FSE] has announced a maiden resource estimate for its Carlin Vanadium deposit near Elko Nevada, a move that coincides with a steep rise in the… Read more »<\/a><\/span><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622,410],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1103293"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1103293"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1103293\/revisions"}],"predecessor-version":[{"id":1103294,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1103293\/revisions\/1103294"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1103293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1103293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1103293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}