The company states that three highlight intervals from this round of drilling encountered 41.15m grading 0.84% vanadium, 38.1m grading at 0.75% and 27.43m grading at 0.84%. The average grade of these 17 holes is 0.54%. The average estimated true thickness of the zone in these 17 holes is 33.7m.
First Vanadium President & CEO, Paul Cowley commented: "We continue to be pleased with these drill results that reinforce continuity of a thick, shallow, near horizontal bed of high-grade vanadium mineralization, correlating well to the nearest previous drill holes and improving drill density. Remaining drill assay results from an additional 25 exploratory holes, are expected to be released next week."
The Carlin Vanadium deposit is considered the largest, highest grade primary vanadium deposit in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).
Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 90% of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 5% of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas.
First Vanadium (formerly Cornerstone Metals Inc.) has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County, 6 miles south from the town of Carlin, Nevada.