First Vanadium Extending The Carlin Vanadium Deposit in Nevada

 

VANCOUVER - First Vanadium Corp. has made a strategic acquisition of the southern extension of the Carlin Vanadium deposit located 6 miles south of Carlin, Nevada. The Company has gained mineral rights to an additional 200m strike length of the Carlin Vanadium deposit through an Access and Mineral Lease Agreement to approximately 80 acres of private (fee simple) land immediately adjacent to the Carlin Vanadium property. Six vertical holes drilled by Union Carbide in the 1960's on this adjacent ground demonstrated a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67m to 28.96m (average 18.54m; 60.8ft) and grades ranging from 0.37% to 0.82% V2O5 (average 0.57% V2O5).

President and Chief Executive Officer Paul Cowley said, "This is a timely acquisition just prior to a mineral resource estimate that will now be able to include these additional holes and deposit extension."

The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% 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 company’s address is Four Bentall Centre, 1055 Dunsmuir Street, Suite 2200, Vancouver, BC V7X 1L2, (778) 655-4311, [email protected].