Stina Increases It's Vanadium Assets in Nevada
June 19, 2017
Stina Resources Ltd. (CSE: SQA) (OTC: STNUF) (the “Company” or “Stina”) is pleased to announce it is further increasing its land assets by adding 10 new claims adjacent to the Company’s Bisoni McKay property in Central Nevada.
The 10 new claims are in addition to the 154 claims reported in the news release dated June 6, 2017. This consolidates ownership of the land along the Vanadium Belt between the north end of the Bisoni McKay Project and the southern boundary of the Gibellini property (Prophecy Development Corp.). The new set of 164 claims covers an area of 3,361 acres.
These new 164 claims, combined with the Company’s original 37 claims covering 754 acres on the Bisoni McKay Property, brings the total Stina land claims in the Nevada Vanadium Belt to 201, and covers a total area of 4,115 acres.
This new set of claims cover the Bisoni prospect, located 3 miles north of the Bisoni Mckay Project. The Bisoni prospect was the site of limited past exploration conducted by Union Carbide Nuclear Co. in 1958 and 1959. The mineralization is similar to that found at the Bisoni McKay project. It is described as occurring in sheared and contorted black shale of the Woodruff formation. The black shale is interlayered with bedded chert and calcareous shale and a little limestone. The past exploration at the Bisoni prospect was conducted by means of trenches and adit and reported grades in the order of 0.4% V2O5. Initial field inspection identified the presence of iron oxidation on fractures and bedding planes and some crackle breccias in the Newark formation which cuts through the middle of the Bisoni prospect area. Similar iron oxidation is evidenced at Bisoni McKay in the enriched zone situated below the redox zone, which reports grade surges in the order of 50% to 150%.
The Bisoni McKay project has NI 43-10 Indicated Resources amounting to 11,879,590 tons at an average grade of 0.39% V2O5 and Inferred Resource estimated at 7,048,056 at an average grade of 0.42.% V2O5. These estimates are calculated using a 0.2% V2O5 mineralized cutoff.
The company plans are to conduct a drilling campaign at the Bisoni McKay and Bisoni prospect. The target at Bisoni McKay is to further delineate the mineralization in the west side along the fault and contact with the Devils Gate formation and to evaluate the enrichment zone. At the Bisoni prospect, the objective is to confirm the continuity of mineralization from the north end of Bisoni McKay into the Bisoni prospect, all the way toward the boundary with the Gibellini property.
Stina’s motivation for increasing its vanadium land assets in central Nevada stems from a changed world-wide interest in vanadium. Previously vanadium was primarily used for steel production but now new uses such as an electricity storage media in vanadium redox flow batteries is accelerating demand for the metal. This trend is anticipated to continue as grid energy storage becomes more and more prevalent as the new technology is adopted. The US Department of Energy reports that there are currently 59 Vanadium Redox Battery installations throughout the world.
The Vanadium Belt of Central Nevada is host to an important concentration of single-product vanadium deposits in North America. Stina Resources’ Bisoni McKay property is a high-grade, pure-play vanadium project located in the Vanadium Belt of Central Nevada. Past exploration drilling reveals the occurrence of high grade V2O5 in the primary (carbonaceous shale) mineralized rock which contains the largest vanadium resource in the property. Several drill holes terminated in primary mineralization which suggests the deposit is open at depth in some areas.
Pure play vanadium deposits of economic value are very rare. Vanadium most commonly occurs in association with other metals forming complex mineral deposits such as titaniferous magnetite and uranium-vanadium deposits where vanadium is mined as a co-product. This results in vanadium extraction being dependent on the economic value of other commodities.
The disclosure of the technical information contained in this news release has been reviewed and approved by Mr. Tony Hammond, P. Eng., and SME Registered Member, who is a geologic consultant and director for the company, and a qualified person as defined under NI 43-101.