Date: Sep 18, 2018
Vanadium One Energy Corp. (the “Company”) (VONE)(frankfurt:9VR1), is pleased to announce the commencement of its Phase 2B drilling campaign at its Mont Sorcier Vanadium-Magnetite Project. The drill rig was mobilized on September 10, 2018 and drilling began on September 11, 2018. Our Phase 2B plan is targeting approximately 2,000 meters of drilling in 10 drill holes, with each hole to average approximately 200 meters in length.
The objective for Phase 2B is to continue drilling in the South Zone, between historical sections 52E and 68E. Our goal is to complete and extend drilling at 45° to 60° drill angles across the 150 meter thick iron formation, on a 100 meter spacing grid. Phase 2B will complete the drilling program recommended in our NI 43-101 technical report dated October 29 [th] , 2016 (available on SEDAR).
John Priestner, President and Chief Executive Officer, said, “We have had two very successful drilling campaigns so far, demonstrating the widespread correlation to the mineralization reported in the historical records. Our goal is to confirm that our continuing results are consistent with the historical records and to deliver a NI 43-101 compliant mineral resource estimate in the first quarter of 2019.”
As in our previous two drilling campaigns, the drilling contract was awarded to Chibougamau Diamond Drilling Ltd. and calls for ten (10) new NQ sized drill holes. Drilling is expected to be completed over the next two weeks with core logging, cutting and sampling to be completed at the Vanadium One Core Shack, located in Chibougamau, shortly thereafter. Core samples will be sent regularly to ACT Laboratories during this period of logging and assessment.
