Stina Resources Ltd. is providing the go-forward plan for its Bisoni McKay vanadium property in northern Nevada.
New uses and improved demand for vanadium are accelerating Stina's development of its Bisoni McKay vanadium assets in Nevada. New battery technology including the vanadium redox flow battery and other new energy storage solutions incorporating vanadium have come to the forefront as installation of grid-storage battery technologies are now taking place worldwide.
Additionally, the spot price of vanadium has risen to above $6.00 (U.S.) per pound for the first time in almost 10 years, and short stack small orders are even fetching close to $6.50 (U.S.) per pound. Several new developments, including the recent acquisition of the Gibellini vanadium property (immediately adjacent to the Bisoni McKay) by Prophecy Development Corp. indicate a renewed high interest in the Nevada vanadium belt.
Following up on the 2016 National Instrument 43-101 technical report recommendations to advance metallurgical recovery studies, Stina will immediately send both core and reverse circulation drill samples to Hazen Research for further testing. In 2006, the company had Hazen conduct the initial bench recovery tests on three zones of mineralization: oxidized zone (mudstone), transition zone (mudstone to carbonaceous shale) and unoxidized zone (carbonaceous shale) using various recovery methods. The objective of the tests was to maximize V2O5 (vanadium pentoxide) output.
In addition to advancing recovery studies and new end-product alternatives for its vanadium material, the company is considering a pilot processing operation on the property to evaluate costs. The company would acquire the necessary permitting for its Bisoni McKay operations from the NV BML.
The opportunity for researching and developing refined vanadium redox flow battery electrolyte, based upon a specifically formulated vanadium and other element solution, are also being evaluated and will become a specific focus for Stina moving forward.
The 309-hectare Bisoni McKay vanadium property lies in northern Nevada, approximately 50 kilometres southeast of Eureka, Nev., in what is known as the vanadium belt, which also includes the Gibellini and Bisoni McKay vanadium properties. Stina acquired the Bisoni McKay property in 2005 and is now fully vested, and has conducted over $1-million of exploration, including 1,024 feet of core drilling on a fence and 19 RC holes for a total of 5,130 feet on northern section A. The recent NI 43-101 technical report from Aug. 29, 2016, details indicated resources of 11.8 million tons of V2O5 and an additional seven million tons of inferred resources of V2O5 at a cut-off of 0.2 per cent on the combined north and south sections of area A. This is the area of the previous drilling attention. Areas B and C have yet to be explored and could add to the mineralization.
The Bisoni McKay property is located in mining-friendly Nevada with easy logistical access, shows high levels tonnage and grade, is open-pittable with mineralization close to surface, has considerable areas yet to be explored, remains open at depth in some areas and is potentially leachable.
The company's new management team is also currently evaluating a new environmentally friendly technological vanadium recovery initiative in addition to other potential acquisitions that further shareholder value. Updates are forthcoming.
The disclosure of the technical information contained in this news release has been reviewed and approved by Tony Hammond, who is a geologic consultant and director for the company, and a qualified person as defined under NI 43-101.
