Inomin, Sumitomo partner up on British Columbia nickel project
Sumitomo will have the right to earn up to an 80% interest in the project by spending at least C$8 million on exploration.
VanadiumCorp Resource Inc (TSXV: VRB) reported on Friday that the 8,500-metre infill and extension drilling program currently underway at its Lac Doré vanadium project has passed the 50% completion mark.
The company also reported that a review of historical drilling data by mining industry consultants CSA Global has outlined the potential for elevated V2O5 grades in two of the three stratigraphic units that host vanadiferous titanomagnetite (VTM) mineralization.
“With 4,346 m now drilled, the 8,500 m drill program should be completed on schedule, in less than 4 weeks,” Adriaan Bakker, President and CEO of VanadiumCorp, said in a press release.
The Lac Doré vanadium project is located 27 km east-southeast from the city of Chibougamau in Eeyou Istchee James Bay Territory, Northern Québec.
The current drill program targets the Lac Doré main vanadium prospect, where previous drilling and outcrop channel sampling conducted between 1958 and 2013 revealed the presence of a 2 km long by 200 m wide and at least 200 m deep zone of banded VTM mineralization within property limits.
