Currie Rose Resources Inc. (TSXV: CUI) (“Currie Rose” or the “Company”) today announces that it has filed the technical report titled “Technical Report and Maiden Mineral Resource Estimate, North Queensland Vanadium Project, Queensland, Australia” on SEDAR for the previously announced updated Mineral Resource Estimate for its Cambridge Vanadium Deposit that forms part of the North Queensland Vanadium Project (“NQVP”) situated within the “Vanadium Hub” approximately 450 km west of the port of Townsville, Queensland, Australia.
Highlights:
Indicated Resource of 61.33Mt @ 0.34% V2O5. The initial 2018 MRE contained no indicated mineral resources.
Inferred Resource increased by 61Mt to 144.87Mt @ 0.33% V2O5, representing a 72% increase from the initial 2018 resource.
Updated resource estimate was based on 65 drill holes, using 30 drill holes not included in the initial 2018 resource.
Estimated Molybdenum (MOO3) grade of 239.7ppm, up 51.8ppm ~28% increase.
Mineral Resource Estimate for the NQVP at 0.25 % Vanadium Cut-Off Grade
| Cut-Off | Classification | Ore Tonnes (Mt) | V2O5 | V2O5 | MoO3 | MoO3 (ppm) |
| V2O5 (%) | (t) | (%) | (t) | |||
| 0.25 | Indicated | 61.33 | 210,300 | 0.34 | 14,600 | 234.6 |
| Inferred | 144.87 | 483,400 | 0.33 | 35,500 | 241.9 |
Notes:
Indicated and Inferred Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. The estimate of mineral resources may be materially affected by environmental, permitting, legal, marketing or other relevant issues. The mineral resources have been classified according to the Canadian Institute of Mining (CIM) Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (2019).
The Mineral Resource Estimate is constrained in an LG pit optimization utilizing V2O5 at $USD 7.5/lb, Mining at $AUD 2.86/tonne, Processing and G&A at $AUD 7.86/tonne, pit slopes at 35o.
Differences may occur in totals due to rounding.
Tonnage estimates are based on a bulk density of 1.8 g/cm3.
Mr. Mike Dufresne, P.Geol., P.Geo. and Mr. Steven Nicholls, M.AIG of APEX Geoscience Ltd. (“APEX”), who are deemed a qualified person as defined by NI 43-101 is responsible for the completion of the updated mineral resource estimation.
About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals explorer and developer focused on identifying high-value assets in mining-friendly jurisdictions. The Company’s immediate focus is the advanced North Queensland Vanadium Project in Queensland, Australia.
www.ferroalloynet.com
