logo-loader
92 Resources Corp

92 Resources buys Silver Sands vanadium project in eastern British Columbia

The spot price of vanadium is approaching its highest level since 2005 and has climbed more than 550% since September 2016, according to the miner

The chemical symbol for vanadium
92 Resources expects vanadium prices to extend their gains as vanadium-redox flow batteries experience a boost in demand

Mining company 92 Resources Corp (CVE:NTY, OTCMKTS:RGDCF) said Tuesday that it has acquired the Silver Sands vanadium project in eastern British Columbia.

The spot price of vanadium is approaching its highest level since 2005 and has climbed more than 550% since September 2016, the Vancouver-based 92 Resources said in a press release.

The company added that prices are expected to extend their gains as vanadium-redox flow batteries experience a boost in demand.

READ: 92 Resources finds lithium-bearing pegmatite at Pontax

The vanadium project covers 3,735 hectares (9,229 acres), located about 200 kilometers (125 miles) north of Prince George, British Columbia.

“The Silver Sands vanadium project offers an opportunity to discover black shale-hosted vanadium mineralization at a location with excellent access within a mining friendly jurisdiction," 92 Resources CEO Adrian Lamoureux said in a statement.

Under the agreement, 92 Resources is paying staking costs of C$15,000, with the seller retaining a 2% net smelter return on the property.

Last month 92 Resources announced that sampling at its Pontax property in the James Bay region of Quebec led to the discovery of lithium-bearing pegmatite.

Contact Dennis Fitzgerald at [email protected]

 

Quick facts: 92 Resources Corp

Price: $0.03

Market: TSX-V
Market Cap: $2.2 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: The Green Organic Dutchman delivers first order to Ontario...

The Green Organic Dutchman (TSE:TGOD-US: TGODF) Director of National Sales, Ed Corcoran joined Steve Darling from Proactive Vancouver to discuss the company delivering their first order to the Ontario Cannabis Store. Corcoran telling Proactive when their product will be available in retail...

18 hours, 51 minutes ago

2 min read