Announcement Date: 2022-11-01
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Currie Rose Resources Inc.
Project name: North Queensland Vanadium
Location: Australia
Commodities: Vanadium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Toronto, Ontario–(Newsfile Corp. – November 1, 2022) – Currie Rose Resources Inc. (TSXV: CUI) (“Currie Rose” or the “Company”) is pleased to announce an updated independent mineral resource estimate (“MRE”) for its Cambridge Vanadium Deposit that forms part of the NorthQueensland Vanadium Project (“NQVP”) situated within the “Vanadium Hub” approximately 450 km west of the port of Townsville, Queensland, Australia. The updated MRE is based on “reasonable prospects for eventual economic extraction” and is constrained in a Lerchs Grossman (LG) open pit shell that was constructed using $AUD 23,152/tonne ($USD 7.5/lb) for V2O5 . The MRE has an effective date of October 27, 2022 and is based on historical drilling from 2008 to 2019. Details of the MRE are shown in Table 1 below. Additionally, the NorthQueensland Vanadium Project has multiple characteristics that are positive for potential future development. These include Indicated and Inferred MineralResources are not MineralReserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the Inferred MineralResources could be upgraded to Indicated MineralResources with continued exploration.
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