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First Vanadium Corp.
Summary
| Project: | Carlin Vandium | |
|---|---|---|
| Deposit: | Carlin Vandium | |
| Location: | United States | |
| Commodities: | Vanadium | |
| Date: | 5/11/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-5-2020: First Vanadium Corp. announces a PEA report for its Carlin Vandium deposit at the Carlin Vandium project. Initial PEA results incl. post-tax NPV (6%) of US$29M and IRR of 7.02%. May 11, 2020- - Vancouver, British Columbia – First Vanadium Corp. | |
| Resources: | (Resources): 24.64Mt @ 0.615% V2O5 (ind.) & 7.19Mt @ 0.52% V2O5 (Inf.) | |
| CP/QP: | [Overall Report]: Susana Gonzales (Wood Plc) | |
| ABSTRACT: | May 11, 2020- - Vancouver, British Columbia – First Vanadium Corp. (TSX-V: FVAN) (OTCQX®: FVANF) (FSE: 1PY) (“First Vanadium” or the “Company”) announces positive results on its Preliminary Economic Assessment (PEA) for the Company’s Carlin Vanadium Project located 6 miles south from the town of Carlin, Nevada in the United States. The PEA has been prepared by independent consultant Wood Canada Limited (Wood) in accordance with National Instrument 43-101. The PEA is based on the Mineral Resource Estimate outlined in the Company’s Technical Report dated April 9, 2019. The PEA demonstrates positive economics for a large-scale open pit mining operation, with 16 years of Vanadium production and 4 additional years of acid/power sales. Paul Cowley, President and Chief Executive Officer, said, “The PEA crystalizes potential economics for the Company’s vanadium asset and provides for design options and enhancement opportunities. Unit Operating costs averaging US$4.81/lb V2O5 in the first 10 years and US$5.17/lb V2O5 over Life of Mine are of significant note, and in the range of lower quartile operating costs of vanadium producers. We can see numerous opportunities to lower both Capex and Opex to benefit the vanadium asset which we will act upon to advance the project.” | |
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