NEWS
Precious Metals   Energy  

First Vanadium says Nevada project resource estimate exceeds expectations

Canada’s First Vanadium (TSX-V: FVAN) has published indicated mineral resources for its Nevada-based Carlin project, considered the largest, highest grade primary vanadium deposit in North America.

The company, which in March more than doubled the size of the vanadium property from 1,331 acres to 3,177 acres, said Carlin’s maiden resource has far exceeded expectations and will provide a base for an economic study.

More than 90% of the world's vanadium is currently used in steel manufacturing applications, but the metal’s importance to the energy sector is also growing rapidly

Based on the 43-101 technical report filed by Fist Vanadium, Carlin's indicated resource stands at 24.64 million tonnes at 0.615% V2O5 for 303 million pounds, and inferred at 7.19Mt at 0.52% V2O5 for 75Mlb.

Both the inferred and indicated categories used a 0.3% cut-off grade and the results replace an historic 2010 resource estimate.

First Vanadium has the option to earn 100% of the project, which now exceeds the numbers quoted in a 2017 USGS paper.

The news comes at a time of high prices for silvery-grey metal, used to harden steel and in the making of flow batteries, which are long-lasting, durable and can hold large amounts of energy.

More than 90% of the world's vanadium is currently used in steel manufacturing applications, but the metal’s importance to the energy sector is also growing rapidly, with more than 5% of global output used in energy storage.

Vanadium prices more than doubled in 2018, reaching historic peaks. Fastmarkets’ price assessment of ferro-vanadium, basis 78% min, free delivered duty-paid to consumer works in Europe stood at $126-128 per kg on November 23, 2018, the highest it has ever been.

News No: 4318
Date: 2019/04/11 - 14:44
News Source: MINING.COM

Vanadium  Nevada  Canada  energy 

Comments:

Leave a Comment:

   
   
   
 

US Sanctions on Nord Stream 2 Coming

United States Energy Secretary Rick Perry said on Tuesday that a sanctions bill putting onerous restrictions on companies involved in the Nord Stream 2 project would come in the “not too distant future”.
 

Victory Metals’ big vanadium find

Vancouver-based Victory Metals (TSX-V:VMX) has big ambitions for its flagship Nevada vanadium project, Iron Point, based on a recent expansion to 5,382 hectares, drill results, and a $3.6 million private placement.
 

Canada’s Pure Gold starts trading in London

Canada’s Pure Gold Mining (TSX-V: PGM) has begun trading on the main market of the London Stock Exchange under the ticker PUR, in a move aimed at lifting the company’s international profile ahead of its transition to producer from developer.
 

Lynas to move upstream processing of rare earths from Malaysia to Australia

Rare earths miner Lynas Corp (ASX: LYC) said Tuesday it intended to relocate its contentious processing plant from Malaysia to one of two preferred sites in Western Australia, where its Mt Weld mine is located.
 

Iran to Offer Petrochemical Products, 10,000T Naphtha on Energy Bourse

Iran is due to offer 10,000 tons of light naphtha, 2,000 tons of heavy naphtha and large cargoes of petrochemical products to domestic buyers through its energy bourse on Sunday, in a direct sale to bypass the US unilateral sanctions.
 

Iran-Czech Ties to Widen Economic Areas

Officials from Iran and the Czech Republic signed a memorandum of understanding (MoU) to strengthen economic cooperation in energy, auto-making and rail transport sectors.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners