Resource World Magazine

A P R I L / M A Y 2 0 1 8 www.resourceworld.com 49 zones, including 0.8 g/t gold over 7.2 metres at the Segala West Zone. The program comprised 60 holes total- ling 4,356 metres. Because of the unique style of mineralization at Baroya NW, sam- ples have been sent out for mineralogical analysis and study. Additional holes are recommended to test this area and other areas that display stock-work type hema- tite alteration. Follow-up drilling is planned at Baroya and Yetia West later this year. Drilling at the Segala West Zone extended gold mineralization to depth, below a large artisanal mining pit with an intersection of 0.8 g/t gold over 7.2 metres. The Segala West Zone lies along trend of Endeavour's currently mined Segala underground mine and the previously mined Segala Northwest open pit. More work needs to be done at Segala West to test this well mineralized structural trend. Scharf said, "As a first pass drill program, our team is very pleased with these results. We have learned a great deal from this short program where we are only beginning to understand the potential at Segala West. A great deal of follow up work is justified and we will aim to begin a second phase of drill- ing in Q2 of this year." Down the line, the company plans to complete advanced metallurgy, social, environmental and hydrological studies, a scoping study and eventually a feasibility study. Desert Gold also holds the Djimbala Project in Mali and the Byumba Project in Rwanda – the first significant gold resource discovered in the country. Djimbala is surrounded by the Hummingbird Resources Yanfolila Gold Mine (Komana) which recently went online and was officially commissioned earlier this year at Indaba. This project was previously owned by Goldfields. n Golden Share Resources Corporation [GSH-TSXV], which has interests in the Bernes River polymetallic project, the Band Ore gold project, and the Okogi diamond project, all in northern Ontario, is ponder- ing a spin-off due to recent developments. According to Nick Zeng, President and CEO, the new technology company (SpinCo) would be focused on vanadium-based energy storage. SpinCo will be continu- ally advancing vanadium redox flow batteries (VRFB) suitable for utility-scale stationary power storage applications, and jointly research and develop a novel vana- dium-based solid state battery technology which could potentially be a revolutionary development in the battery industry. A Letter of Intent has been signed with Hunan Vanadium Valley New Energy Technology Co. Ltd. (HVVNET) of China to jointly develop a custom-built VRFB based on Golden Share's licensed vana- dium electrolyte (VE). The licensed vanadium electrolyte, developed by Pacific Northwest National Laboratory (PNNL) in Richland, Washington State, has advan- tages over previous generations, including a wider temperature operating range and higher energy density. The licensed VE is commonly regarded as the most advanced VE. And so, the contract manufactured VRFB from HVVNET exclusively for Golden Share is expected to result in an overall better battery performance. There are a few key advantages of VRFB systems over other battery storage sys- tems, a virtually unlimited life cycle, and an almost unlimited energy capacity using larger electrolyte storage tanks. It is safer with aqueous electrolytes and a flexibil- ity of design separating energy (kwh) and power (kw). The vanadium will be sourced through a strategic partnership between Golden Share and the Chinese State-owned Northwest Mining & Exploration (NWME) signed in May 2016 for high purity vana- dium from NWME's Qianjiaping Vanadium Mine in China. Qianjiaping is the larg- est primary vanadium operating mine in China since initial production in 2011. In addition, Golden Share has signed an agreement with PNNL to further develop newer VEs and research and develop vanadium based solid state battery tech- nologies. In the proposed solid-state form, the vanadium battery will have various advantages: high energy density and a potentially significantly simplified battery cell design different from traditional solid- state and redox flow batteries. The pieces of the company's business strategy are now coming together. Zeng explained the business model to Resource World. "Golden Share is excited for such a great opportunity to potentially become a leader in the energy storage industry," he said. "Golden Share is assembling a group of industry leaders for the vanadium based energy storage project, including a reliable supplier for the best possible source of bat- tery grade vanadium, a national laboratory developed the most advanced VRFB and VE technologies, and a professional VRFB manufacturer capability of producing megawatt-scale VRFB. The team will help make VRFB more competitive in order to eventually domi- nate the utility scale, ultra large electricity storage market," he said. Zeng added that VRFB is in an advanced development stage: energy density must be significantly increased, reliability must be improved as wider temperature oper- ating ranges and costs must be reduced. "Golden Share will continue to advance the technology through research and development," he said. "More importantly, Golden Share is to engineer a sustainable business model suitable for VRFB based on main its extremely long life span as defined as decades, not years." n Golden Share entering vanadium-based energy storage sector MINING

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