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Vanadium One Energy completes Mont Sorcier Claims Earn-ln

Mining News - Published on Fri, 11 Jan 2019

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Vanadium One Energy Corp announced it has fulfilled its $1,000,000 financial commitment for exploration expenditures to Chibougamau Independent Mines Inc in accordance with the "Option to Purchase Agreement" dated September 29,2016 and amended on October 14,2016. As a result, Vanadium One Energy Corp. will acquire title to 100% of all 37 claims of the Mont Sorcier Magnetite Iron Ore and Vanadium Project. Company CEO Martin Walter said "This is a major milestone for the Company as it provides clarity to our shareholders on ownership of our 37 claims that comprise the Mont Sorcier Magnetite Iron Ore and Vanadium Project.”

Documents detailing all exploration expenditures since October 2016 were submitted to CIM on December 12,2018 and an acceptance letter was issued by CIM the same day. The transfer of claim ownership is in progress and will be completed in due course.

Further to this, the Company expects to receive assay results from its recent drilling campaign. The drilling was completed in early December, 2018. Assay results will be published in the very near future.

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Posted By : Rabi Wangkhem on Fri, 11 Jan 2019
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