According to Mining News Pro - The strategic move, announced Thursday, gives the company mineral rights to an additional 200-metre strike length of Carlin.
"Strategic move gives the company mineral rights to an additional 200-metre strike length of Carlin — the largest, highest grade primary vanadium deposit in North America."

Six vertical holes drilled by Union Carbide in the 1960`s on the adjacent ground, known as Cole Creek, showed a southern continuance of the Carlin Vanadium deposit with thicknesses ranging from 10.67m to 28.96m (average 18.54m; 60.8ft) and grades ranging from 0.37% to 0.82% V2O5 (average 0.57% V2O5), the company said.

The news comes at a time of high prices for silvery-grey metal, used to harden steel and in the making of so-called flow batteries, which are long-lasting, durable and can hold large amounts of energy.

More than 90% of the world`s vanadium is currently used in steel manufacturing applications, but the metal’s importance to the energy sector is also growing rapidly, with more than 5% of global output used in energy storage.

Vanadium prices more than doubled in 2018, reaching historic peaks. Fastmarkets’ price assessment of ferro-vanadium, basis 78% min, free delivered duty-paid to consumer works in Europe stood at $126-128 per kg on November 23, 2018, the highest it has ever been. Year to date, the metal has averaged $76 per kg.