Date: Sep 20, 2018
Cornerstone Metals Inc. (TSXV: CCC) (OTCQX: CCCCF) (FSE: 1PY) (“Cornerstone” or the “Company”) is pleased to provide an update on drilling on its Carlin Vanadium Project, located south of Carlin, Nevada.
The Phase 2 Reverse Circulation drilling program on the Carlin Vanadium Project is ongoing with a total of 33 drill holes completed to date. Two drill rigs are currently turning on the property and plans are to complete approximately 60 holes before the end of September. The objectives of this drill program are to infill and expand the deposit. Assay results are pending due to the general uptick in exploration activities resulting in an increased volume to laboratories. Initial results are expected to be out shortly.
The Carlin Vanadium deposit is considered one of the largest, highest grade primary vanadium deposits in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States—Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).
Vanadium prices for 98% flake V2O5 have steadily risen from under US$3.00/lb less than 3 years ago. This week prices reached US$19.30/lb reflecting the higher demand for vanadium over its supply, globally.
