Metals

Stina Announces Exploration Program for Bisoni McKay Vanadium

CBCIE Time:Apr 11, 2018 18:10 Source:Stina Resources Ltd.

Stina Resources Ltd. ("Stina" or the "Company") (CSE: SQA) (OTCQB: STNUF) (Frankfurt: 01X) is pleased to announce plans for an extensive spring /summer work program at its Bisoni McKay / Bisoni-Rio vanadium project near Eureka, Nevada.

Stina's Bisoni McKay and Bisoni-Rio project is one of the largest pure play vanadium projects in North America totaling 4,115 acres contiguous to Prophecy's Gibellini deposit. Furthermore, vanadium is more often found in association with other metals such as iron, lead, or uranium that must be first removed before vanadium recovery. Exploration to date has indicated that the Bisoni McKay's pure play vanadium resource does not possess significant concentrations of any of these metals.

"Only 12% of the Bisoni McKay area has been drilled and none of the Bisoni-Rio. At that time of earlier exploration, vanadium was primarily a steel catalyst. A lot has changed," explained Brian Stecyk, CEO of Stina.  "It's a completely different situation now, particularly after Stina's acquisition of the vanadium CellCube assets of Gildemeister GmbH. The new company, Enerox, will require vanadium for its battery technology. Not only is the demand for vanadium increasing, but there have been improvements in assaying and metallurgical recovery." 

Previous Stina work at the project resulted in the estimation of an NI 43-101 Indicated Resource of 11,900,000 tons at an average grade of 0.39% V2O5, and an Inferred Resource of 7,000,000 tons at an average grade of 0.42% V2O5 (see company news release September 13, 2016). The Indicated Resources are contained in a zone approximately 200 m in strike length, while the Inferred Resources covers approximately an additional 200 m of strike length extending to the south. The mineralized zone appears to be open at depth and extends to the north into the Bisoni-Rio property. In 2017, Stina staked 162 claims on the Bisoni-Rio property, from the Bisoni McKay right up to and abutting the Gibellini vanadium property.

The program is designed to improve confidence in existing defined mineral resources and to add to those resources.  The program will include approximately 1,600 meters of core drilling and approximately 9,000 meters of reverse circulation drilling.  In addition, the Company plans to collect a 20 tonne bulk sample of mineralized material for additional metallurgical testing.  The budget for the program is approximately US $1.5 million and is expected to start in early spring. This extensive exploration with the technical advances in drilling, sampling, and recovery testing over that time gives Stina excellent prospects of enriching the quality and value of its asset.

"The Bisoni McKay (including the adjacent Bisoni-Rio section) is very unique and may well have far more potential than initially thought," adds Stecyk.

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