Vancouver, British Columbia–(Newsfile Corp. – March 15, 2021) – First Vanadium Corp. (TSXV: FVAN) (OTCQX: FVANF) (FSE: 1PY) (“First Vanadium” or the “Company”) is pleased to provide initial results from its Induced Polarization (IP) survey over the gold system on its Carlin Gold-Vanadium Property on the Carlin Gold Trend of Nevada. Dave Mathewson, Geological Advisor and Jim Wright, former Newmont senior geophysicist, have identified part of the large north-south oriented root system to the much larger sulfide plume related to the gold system by IP. The Company’s IP survey to date demonstrates the large root system with a strike length of at least 1.2 kilometres (0.75 miles) long (north-south), up to 750 metres (2460 ft) wide (east-west) and >500 metres (>1640 ft) vertically. The root system is open-ended to the north and south and remains untested by drilling to date.
IP was largely used in the discovery of the Betze, Screamer, Rodeo, Griffin and Deep Star gold mines on the Carlin Gold Trend. Root systems of Carlin-type gold systems generally contain higher sulfide content (detected by IP) and higher-grade gold portions of Carlin systems.
Figure 1: Line 2 IP Chargeability Inverted Section – untested root system/Chargeability anomaly and RC20-01
Dave Mathewson states, “This is an exciting development. Our IP survey solidifies and advances our thinking significantly, forming a new stage of probability. Our drilling results coupled with the IP survey is a powerful combination of exploration tools to vector into the hot spots comprising the gold feeder zones of the system. The positive surprises from both drilling and IP demonstrate the system is bigger than anticipated and thus the significance of the system and the importance of smart vectoring tools in such a large system. The one exploration tool complements and enhances the other. The geology (rock type, breccias and depths) and extent and zonation of sulfides, multi-element mineralization and alteration found in drilling allowed for best design criteria to set-up the IP survey, a more reliable interpretation of the IP results and better vectoring into the more favourable portions of the root system. The IP now shows the overall size, shape and location of the root system and points to higher sulfide portions. I am very encouraged with these results and keen to test the root system with our next stage of sharpshoot drilling.”
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