Voyager Metals Inc (the “Company”) (TSXV:VONE) is pleased to provide assay results for the final 6 holes from its 2021 infill drill program of 42 holes totaling 15,178 meters at its Mont Sorcier iron and vanadium project, Chibougamau, Quebec.
Cliff Hale-Sanders, President and CEO commented, “With the delivery of the final assay results from a very successful infill drill program, we expect to provide an updated resource report in Q2 to act as the backbone for the feasibility study that is now underway. These results continue to confirm our expectations in terms of grade and thickness of the mineralized zone and we are confident in upgrading a significant portion of the North Zone to the Measured and Indicated categories to support the pending feasibility study”.
As outlined previously, the goal of the 2021 drill program has been to upgrade a sufficient portion of the current North Zone Inferred Mineral Resources to the Measured and Indicated Categories to support a minimum 20-year mine life as the basis for a Feasibility Study that is currently underway. As reported in the compliant NI 43-101 Technical Report – Mineral Resource Estimate of the Mont Sorcier Project, Province of Quebec, Canada completed by CSA Global and dated June 25, 2021, the North Zone has 809.1 Mt Inferred mineral resources at 34.2% Magnetite and the South Zone contains 113.5 Mt Indicated mineral resources at 30.9% Magnetite and 144 Mt Inferred resources at 24.9% Magnetite.
Assay Results
Table 1 below presents assay results for the final 6 drill holes. As per the previous 36 drill holes reported, visual examination and magnetic testing (MPP) of the most recent drill core continues to support the intersection of mineralized material as predicted by the block model completed in 2020. Davis Tube Test work to confirm expected concentrate grades for both iron and vanadium is in progress. We expect to be able to present an updated NI 43-101 resource report in early Q2/22 to support the Feasibility Study (“FS”).
Table 1 shows the assays results for hole 47 which was drilled at surface directly into the iron mineralization from the crest of the Mont Sorcier Mountain. The additional holes 52 to 56 reported in Table 1 are located deeper in the middle of the target area of the program in the North Zone. The length of intersections in the iron formation averages 179.5 meters and grades average 29.3% Magnetite (Fe3O4). That is in line with previous results of drilling in 2018 and 2020 referred to above and in previous News Releases.
About Voyager Metals Inc.
Voyager Metals Inc is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier, Vanadium-rich, Magnetite Iron Ore Project, in Chibougamau, Quebec. As reported in the compliant NI 43-101 Technical Report – Mineral Resource Estimate of the Mont Sorcier Project, Province of Quebec, Canada completed by CSA Global and dated June 25, 2021, the South Zone contains 113.5 Mt Indicated mineral resources at 30.9% Magnetite and 144 Mt Inferred resources at 24.9% Magnetite and the North Zone has 809.1 Mt inferred mineral resources at 34.2% Magnetite.
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