Date: Nov 21, 2018

In mid-2018, First Vanadium drilled 69 reverse circulation holes as part of the phase two drilling program at its Carlin vanadium project, 9.6 km south of Carlin, Nevada

Of those, 33 were step out holes and 36 were infill holes. The company recently reported results from 10 of those step out holes.

The drilling focused on a 300 metre by 220 metre area and connected shallow near horizontal mineralization from the nearest previously existing drill holes. Highlights include 32 metres grading 0.81% vanadium from 9 metres downhole, 27.5 metres at 0.44% vanadium from 6 metres downhole and 15.2 metres at 0.45% vanadium from 15.2 metres downhole.

The project is now defined by 216 holes from First Vanadium’s summer and winter 2018 drill programs as well as Union Carbide’s 1960s drilling.

Union Carbide discovered the project in the 1960s and drilled 127 holes.In the last year, vanadium has out-performed all other metals, and it’s just kind of the right time and right place for the right project

“In those days the only metallurgical procedure was a roast and they could only get 50% out,” First Vanadium president and CEO Paul Cowley explains in an interview with The Northern Miner. “Over time the claims expired.”

SRK Consulting calculated a National Instrument 32-101 compliant resource based on the historical Union Carbide drilling in 2010.

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