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Be the first with the news that moves the market- First Vanadium (TSXV:FVAN) is seeking tenders to drill a gold target at its Carlin Gold Trend property, in Nevada
- The gold target was identified by former Newmont Regional Exploration Manager, Dave Mathewson
- Of the six gold targets identified in the region, one falls within First Vanadium’s claim
- The site sits on the historic Carlin Gold trend, one of most prolific gold mining sites in the world
- First Vanadium (FVAN) is down 2.7 per cent and is trading at C$0.17 per share, with a market cap of $4.6 million
First Vanadium (TSXV:FVAN) is seeking tenders to drill a gold target at its Carlin Gold Trend property, in Nevada.
The target was identified by the former Newmont Regional Exploration Manager, Dave Mathewson.
Six gold targets were identified in the immediate area surrounding Canadian Vanadium’s property. One of these deposits is located within Canadian Vanadium claim.
Thus far, the identified target has not been drilled and all surrounding exploration work has been shallow, at just 60 metres.
Drilling to date on the site has identified multiple zones of vanadium mineralization, both in the overlying grey-brown oilstone and the brown shale.
The site sits on the historic Carlin Gold trend, in Elko County Nevada. The Carlin Gold trend is the one of the world’s largest and richest gold mining districts and is roughly eight kilometres wide and 64 kilometres long
Nine million gold ounces have been pulled from the region within five to 10 kilometres of Canadian Vanadium’s property on the Carlin trend.
President and CEO of First Vanadium, Paul Cowley said the company is now planning to drill test the target.
Canadian Vanadium’s 150 mining claims cover 2,608 acres in the northern-central portion of the Carlin trend.
The property was explored by Union Carbide Corporation in the late 1960’s, which resulted in a defined vanadium resource being discovered at the site.
Through an earn-in agreement First Vanadium retains the option to earn a 100 per cent interest in the project.
First Vanadium (FVAN) is down 2.7 per cent and is trading at C$0.17 per share at 2:45 pm EDT.
