Stina Significantly Expands It's Vanadium Assets In Nevada
June 6, 2017
Stina Resources Ltd. (CSE: SQA) (OTC: STNUF) (the “Company” or “Stina”) is pleased to announce it is increasing its land assets adjacent to the Company’s Bisoni McKay property in Nevada.
A total of 154 new claims covering 3,182 acres have been staked to extend control of the land between the Company’s Bisoni McKay property and the nearby Gibellini property (Prophecy Development Corp.) The Company sees an advantage to securing the additional lands because of the increasing world demand for vanadium largely resulting from its non-traditional use in (VRB) vanadium redox flow battery technology.
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.
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.
This was the case of the uranium-vanadium deposits in the Colorado Plateau, which were the largest source of vanadium during the period between World War II and the late 1980s, when depressed uranium prices and the downsizing of the American steel industry resulted in the closing of the mining operations in the Colorado Plateau. Currently, there are no primary vanadium mines in North America and the demand for this metal is met by imports from other countries. Collectively China, Russia and South Africa control 92% of the world’s vanadium mine production and the US Government does not have a vanadium stockpile.
The concentration of the past exploration drilling campaigns at Bisoni McKay was within a relatively small portion of the project area and was designed to evaluate and characterize the vanadium continuity, grade distribution, and spatial characteristics of the vanadiferous beds. The results confirmed the continuity of mineralization within a persistent kerogen-rich carbonaceous shale, which hosts the high grade ore. It also revealed the presence of a zone reporting grade surges of 50% to 150% (as high as 1.79% V2O5) up to 35 feet thick, immediately below the redox zone that is likely due to a supergene enrichment processes. This enrichment zone is not well understood at this time and will be the target of the next exploration drilling campaign.
The disclosure of the technical information contained in this news release has been reviewed and approved by Mr. Tony Hammond, who is a geologic consultant and director for the company, and a qualified person as defined under NI 43-101.