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Cornerstone Metals Inc.
Summary
| Project: | Carlin Vandium | |
|---|---|---|
| Deposit: | Carlin Vandium | |
| Location: | United States | |
| Commodities: | Vanadium-Zinc-Silver | |
| Date: | 4/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-4-2018: Cornerstone Metals Inc. announces an Exploration/Drilling Update report for its Carlin Vandium deposit at the Carlin Vandium project. Drilling results incl. 46.50m @ 1.47% V2O5, 0.33% Zn, 7.5g/t Ag from 10.0m. “Many of our verification holes | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Paul Cowley (Internal) | |
| ABSTRACT: | “Many of our verification holes within the confines of the historic resource area have returned higher grades than their neighbouring historic holes. Now, with this first twinned hole, there is growing evidence to suggest that historic grades may be understated”, said Cornerstone President and Chief Executive Officer Paul Cowley. The Carlin Vanadium deposit has a historic Inferred mineral resource estimate of 28 million tons at 0.515% vanadium pentoxide (V2O5), having a total metal content of 289 million pounds V2O5, defined by Dr. Bart Stryhas of SRK in 2010. The estimate was based on a 0.3% V2O5 cutoff grade with the reasonable potential for economic extraction under a conceptual open pit mining and milling scenario and defined by 127 rotary holes completed by Union Carbide in the late 1960s. V2O5 grades were estimated using an Inverse Weighting to the second power. The results of the 2010 resource estimation provided a CIM classified Inferred Mineral Resource. The quality of the historical data was good and the Mineral Resource was classified as inferred mainly due to the fact that the rotary drilling had not been verified by a modern program. The historical estimate does not include any recent data available to the Company. The Company is not treating this historical estimate as current mineral resources and as such, should not be relied upon. The work needed to upgrade the historical estimate as current mineral resources is to use current costs and metal prices and include the results from the verification diamond drilling program. | |
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