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Mining News Pro - Canada’s First Vanadium is extending its Nevada-based Carlin project, considered the largest, highest grade primary vanadium deposit in North America, by acquiring the southern extension of the asset.
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.
Short Link:
https://www.miningnews.ir/En/News/332763
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