Results from final 6 holes confirm consistent grade and thickness expectations at the Mont Sorcier Deposit
Mineral Resource Update Expected in Q2/22
TORONTO, ON / ACCESSWIRE / March 29, 2022 / Voyager Metals Inc (the "Company") (TSXV:VONE) is pleased to provide assay results for the final 6 holes from its 2021 infill drill program of 42 holes totaling 15,178 meters at its Mont Sorcier iron and vanadium project, Chibougamau, Quebec.
Cliff Hale-Sanders, President and CEO commented, "With the delivery of the final assay results from a very successful infill drill program, we expect to provide an updated resource report in Q2 to act as the backbone for the feasibility study that is now underway. These results continue to confirm our expectations in terms of grade and thickness of the mineralized zone and we are confident in upgrading a significant portion of the North Zone to the Measured and Indicated categories to support the pending feasibility study".
As outlined previously, the goal of the 2021 drill program has been to upgrade a sufficient portion of the current North Zone Inferred Mineral Resources to the Measured and Indicated Categories to support a minimum 20-year mine life as the basis for a Feasibility Study that is currently underway. As reported in the compliant NI 43-101 Technical Report - Mineral Resource Estimate of the Mont Sorcier Project, Province of Quebec, Canada completed by CSA Global and dated June 25, 2021, the North Zone has 809.1 Mt Inferred mineral resources at 34.2% Magnetite and the South Zone contains 113.5 Mt Indicated mineral resources at 30.9% Magnetite and 144 Mt Inferred resources at 24.9% Magnetite. The Technical report is available on SEDAR and on the Company website (www.voyagermetals,com).
Table 1 below presents assay results for the final 6 drill holes. As per the previous 36 drill holes reported, visual examination and magnetic testing (MPP) of the most recent drill core continues to support the intersection of mineralized material as predicted by the block model completed in 2020. Davis Tube Test work to confirm expected concentrate grades for both iron and vanadium is in progress. We expect to be able to present an updated NI 43-101 resource report in early Q2/22 to support the Feasibility Study ("FS").
Table 1 shows the assays results for hole 47 which was drilled at surface directly into the iron mineralization from the crest of the Mont Sorcier Mountain. The additional holes 52 to 56 reported in Table 1 are located deeper in the middle of the target area of the program in the North Zone. The length of intersections in the iron formation averages 179.5 meters and grades average 29.3% Magnetite (Fe3O4). That is in line with previous results of drilling in 2018 and 2020 referred to above and in previous News Releases.
Table 1Assay Results of 6 drill holes of the 2021 Drill Program (all Assays are in %)
Figure 1: 2021 Drill Location Map
Qualified Persons Statements
The technical information contained in this news release has been reviewed and approved by Pierre-Jean Lafleur, P.Eng. (OIQ), who is a Qualified Person with respect to the Company's Mont Sorcier Project as defined under National Instrument 43-101.
About Voyager Metals Inc.
Voyager Metals Inc is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier, Vanadium-rich, Magnetite Iron Ore Project, in Chibougamau, Quebec. As reported in the compliant NI 43-101 Technical Report - Mineral Resource Estimate of the Mont Sorcier Project, Province of Quebec, Canada completed by CSA Global and dated June 25, 2021, the South Zone contains 113.5 Mt Indicated mineral resources at 30.9% Magnetite and 144 Mt Inferred resources at 24.9% Magnetite and the North Zone has 809.1 Mt inferred mineral resources at 34.2% Magnetite.
ON BEHALF OF THE BOARD OF DIRECTORS OF VOYAGER METALS INC.
President and CEO
Nicholas Campbell, CFA
Director, Corporate Development
Cautionary Note Regarding Forward-Looking Statements:
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This news release contains "forward looking statements" or "forward-looking information" (collectively "Forward-Looking Statements") that involve a number of risks and uncertainties. Forward Looking Statements are statements that are not historical facts and are generally, but not always, identified by the use of forward looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "guidance", "outlook", "intends", "anticipates", "believes", or variations of such words and phrases or that state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The Forward-Looking Statements in this press release relate to, among other things: the future exploration performance of the Company. Forward Looking Statements are based on certain key assumptions and the opinions and estimates of management and Qualified Persons (in the case of technical and scientific information), as of the date such statements are made, and they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any other future results, performance or achievements expressed or implied by the Forward Looking Statements. In addition to factors already discussed in this news release, such factors include, among others: there being no assurance that the Company will upgrade a significant portion of the North Zone to the Measured and Indicated categories to support the pending feasibility study; as well as those risk factors discussed or referred to in the Company's MD&A under the heading "Risk Factors" and under the heading "Forward-looking statements and use of estimates" which include further details on material assumptions used to develop such Forward Looking Statements and material risk factors that could cause actual results to differ materially from Forward Looking Statements, and other documents filed from time to time with the securities regulatory authorities in all provinces and territories of Canada and available on SEDAR at www.sedar.com.
The reader has been cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward Looking Statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that Forward Looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company's Forward Looking Statements reflect current expectations regarding future events and speak only as of the date hereof. Other than as it may be required by law, the Company undertakes no obligation to update Forward Looking Statements if circumstances or management's estimates or opinions should change. Accordingly, readers are cautioned not to place undue reliance on Forward Looking Statements.
SOURCE: Voyager Metals Inc.