🕐19.12.14 - 15:54 Uhr
LAC DORE FIELD PROGRAM COMPLETE
TSX-V: "VRB"
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Lac Dore Field Program Complete
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VANCOUVER, BRITISH COLUMBIA - December 19, 2014 - Vanadiumcorp Resource Inc.
(TSX-V:
"VRB") (the "Company") is pleased to announce that the Company has successfully
completed its Lac Dore SIDEX funded Lac Dore field program.
VanadiumCorp has successfully completed all of the objectives set forth in the previously
announced SIDEXs program "Field Action 2014".
In November, 2014, management coordinated
aspects of the program and assisted the field crew in a site visit to the Lac Dore
Project.
Proceeds from the SIDEX financing, completed in September, 2014, were
utilized for the program.
The successfully completed objectives included:
1.
Exact location of the majority of 26 historical drill holes collars or pads for
integration into the resource calculation.
These holes were drilled by the Québec
Government in 1970, SOQUEM in 1979 and McKenzie Bay Resources in 1999 and 2002.
Of the historic holes, only nine were not pinpointed.
2.
Sampling of trenches previously dug to create continuity in the sampling pattern.
All the trenches dug in 1997 were revisited, and previously unsampled mineralized
intervals were sampled wherever accessible.
A total of 28 samples for 28 meters
was collected, which are currently being assayed and tested by Davis tube magnetic
separation.
3.
Geological mapping and sampling of the trenches excavated over the Lac Doré North
portion of the deposit, which were excavated approximately 5 years ago by the Company.
Special care was taken for structural analysis.
4.
Re-sampling (101 samples) and re-assaying (128 samples) of drill core for drilling
completed by the Company, including Davis tube testing to ensure proper quality
assurance and control for comparisons with historic assay results from previous
operators.
SIDEX Limited Partnership was created in 2001 by the government of Québec and the
Solidarity Fund QFL.The mission of SIDEX is to invest in companies engaged in mineral
exploration in order to diversify Quebecs mineral base and open new territories
to exploration and investment.
"Field Action 2014" is a $3-Million financing program
launched in the spring by SIDEX to encourage junior mineral exploration companies
to pursue field work during the summer and fall 2014, employ young professionals
and service companies and make way for new discoveries.
About VanadiumCorp
VanadiumCorp is a rapidly growing strategic metals company with projects in Quebec,
Canada.
VanadiumCorp has a vision to be the first primary producer of Vanadium in
North America.
The current growth strategy is focused on development of its most
advanced project in mining friendly Quebec, Canada, the Lac Dore Project.
This
project encompasses the Lac Dore deposit that was historically subject to over $20M
of completed work, a completed NI 43-101 report and is adjacent to various infrastructure.
The Lac Dore deposit has the potential supply and scale for North America to make
vanadium-strengthened steel and vanadium batteries, a reality for years to come.
VanadiumCorp is targeting production of metallurgical grade Vanadium Pentoxide
as well as high purity Vanadium chemicals for the battery industry.
Regarded as
a "super metal," vanadium is the number-one steel strengthener in the world and
is internationally acclaimed as the "ultimate energy storage solution." The Lac
Dore Project, coupled with the Companys Iron-T Vanadium-Titanium-Iron Project positions
VanadiumCorp at the forefront of global vanadium exploration and development.
VanadiumCorps
experienced management and technical teams are dedicated to project development
and building shareholder value.
(This release was approved by Mr.
Rejean Girard, P.
Geo.
Mr.
Girard is a qualified
person as defined by National Instrument 43-101.)
FOR MORE INFORMATION CONTACT:
Adriaan Bakker, President and Chief Executive Officer - Direct: 604-385-4485
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements - The information in this news
release includes certain "forward-looking statements" All statements, other than
statements of historical fact, included herein including, without limitation, plans
for and intentions with respect to the companys properties, statements regarding
intentions with respect to obligations due for various projects, strategic alternatives,
quantity of resources or reserves, timing of permitting, construction and production
and other milestones, are forward looking statements.
Statements concerning Mineral
Reserves and Mineral Resources are also forward-looking statements in that they
reflect an assessment, based on certain assumptions, of the mineralization that
would be encountered and mining results if the project were developed and mined
in the manner described.
Forward-looking statements involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in such
statements.
Important factors that could cause actual results to differ materially
from VRBs expectations include the uncertainties involving the need for additional
financing to explore and develop properties and availability of financing in the
debt and capital markets; uncertainties involved in the interpretation of drilling
results and geological tests and the estimation of reserves and resources; the need
for cooperation of government agencies and local groups in the exploration, and
development of properties; and the need to obtain permits and governmental approval.
VRBs forward looking statements reflect the beliefs, opinions and projections of
management on the date the statements are made.
VRB assumes no obligation to update
the forward looking statements if managements beliefs, opinions, projections, or
other factors should they change.
Website: www.vanadiumcorp.com
Follow the companys developments:
Twitter: VanadiumCorp
Facebook: Vanadiumcorp
Copyright@ VanadiumCorp Resource Inc.
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For More Information Contact:
Tim Halyk
Business Development
Direct 604.385.4489
EM: [mailto:]
Skype: VanadiumCorp
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