work started in June 2012, with the project expected to come on stream in Q4
2013, producing V2O5 and, by 2016, ferrovanadium (FeV). Measured and indicated
resources stand at 24.6 million tonnes,
grading 1.11% vanadium. With a mine life
estimated at 29 years, the project���s annual
output for years 2-11 is expected to average 6,376 tonnes V2O5 and 4,899 tonnes
vanadium in FeV. An offtake agreement has
already been penned with Glencore, which
will purchase 100% of vanadium products
for the first six years of operation.
PacificOre Mining Corp. [PC-TSXV;
APAFF-OTCQX; NWN-Frankfurt] changed
its name from Apella Resources Inc. in
late May 2012. The company has two
vanadium-iron-titanium
projects
in
Qu��bec: Lac Dore and Iron-T. It also holds
the early-stage Game Changer Project in
Ontario, which has similar characteristics
to the two Qu��bec-located properties. On
December 14, the company announced it
had received encouraging results from a
recent surface magnetometric geophysical
survey carried out over Lac Dore and Lac
Dore North. The interpretation confirms
the presence of the 2.6-km long and 200metre wide magnetic anomaly.
Stina Resources Ltd. [SQA-TSXV] is
developing the Bisoni McKay vanadium
project near Eureka, Nevada. The property
remains open to the north and is known to
extend to the south; it is at least 600ft in
depth, with a 2,000ft strike length on its
Northern Section A. In April 2012, the company released a clarification relating to the
project and NI 43-101 compliance issues.
Effective April 2, 2012, and using a cut-off
grade of 0.3% V2O5, indicated resources at
Bisoni McKay���s north half stand at just over
8.07 million tons for a weighted average
grade of 0.43% V2O5. With a cut-off grade
of 0.3% V2O5, the inferred mineralization for
both the north and south halves is just over
5.49 million tons with a weighted average
grade of 0.48% V2O5.
Ironstone Resources Ltd. is privately
held and focused on the development
of the Clear Hills iron-vanadium project
in northwest Alberta. The project���s NI
43-101-compliant resources currently
MARCH 2013
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