Currie Rose Resources Commences Core Drilling at the North Queensland Vanadium Project in Australia
Toronto, August 22, 2023 - Currie Rose Resources Inc. (TSXV: CUI) ("Currie Rose" or the "Company") is pleased to announce that the Company has commenced core drilling at its 100%-owned North Queensland Vanadium Project ("NQVP") located about 500 km west of Townsville, Australia, in the Julia Creek-Richmond critical mineral zone. The program is designed to provide large diameter core (100mm) from within the defined Cambridge vanadium deposit that hosts the NI 43-101 compliant Indicated Resource of 61.33 Mt @ 0.34% V2O5 and Inferred Resource of 144.87 Mt @ 0.33% V2O5.
A ten (10) drill hole, multi-use program is planned to provide sufficient sample for:
- Ore zone metallurgical testwork
- Overburden and footwall studies
- Additional multielement data
- Basic geotechnical data for mining studies
- Comprehensive stratigraphic data from compressive detailed geological logging and downhole geophysical gamma and density logging
- Detailed mineralogy studies
In addition, one or two holes will be selected and conditioned for water monitoring purposes.
The Cambridge deposit sits within the Toolebuc Formation, a flat lying sequence that consists of black carbonaceous and bituminous shale, minor siltstone with limestone lenses and coquinites with previous drilling indicating that V2O5 mineralisation sits from surface to 30m vertical depth.
Drilling will target the full depth of mineralisation and is "infill" drilling, bringing drill spacing to 500m centres for most of the previously defined deposit.
The completion of this work and the various studies will culminate in an updated Mineral Resource Estimate (MRE).
President and CEO Simon Coyle said: "We are excited to get this program underway and look forward to bringing shareholders updates on the various studies as they come to hand. We expect this work to add significant detail to our knowledge base and provide the springboard to accelerate our project to the next level."
"Vanadium has been getting a lot of attention lately, specifically in Queensland where the government recently invested into a multi-billion infrastructure project which would trial vanadium battery technology as well as support local industry players. We know this is just the beginning of the journey where vanadium is widely recognized as an effective and sustainable solution to static energy storage, and Currie Rose is excited to be part of the movement," added Mr. Coyle.
Currie Rose's NQVP covers approximately 1,250 km2 in northwest Queensland and hosts NI 43-101 compliant Indicated Cambridge Resource of 61.33 Mt @ 0.34% V2O5 and Inferred Resource of 144.87 Mt @ 0.33% V2O5, open for expansion.
Figure 1 - North Queensland Vanadium Project Location
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About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals exploration and development company identifying high-value assets in resource- and research-friendly jurisdictions. The Company's immediate focus is the advanced NQV Project in Queensland, Australia. The NQV Project hosts the Cambridge Deposit with an Indicated Mineral Resource of 61.33 Mt @ 0.34% V2O5 and 234.6 ppm MoO3 along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V2O5 and 241.9 ppm MoO3 (Dufresne et al., 2022). The Company additionally owns Kotai Energy and the option to acquire 100% of the intellectual property rights associated with the Hydrogen Project from Curtin University in Western Australia. Please visit our website at www.currierose.com.
For additional information, please contact:
Iryna Zheliasko, Investor Relations - Canada
Office: (+1) 647-249-9298
Email: communications@currierose.com
Andrew Rowell, Investor Relations - Australia
M: +61 400 466 226
Email: andrew@whitenoisecomms.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Persons
The scientific and technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf of Currie Rose Resources by Michael Griffiths, FAusIMM, VP Exploration and Director for Currie Rose Resources, a Qualified Person.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the Company's plans regarding the NQV Project. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-Looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will receive the required corporate and regulatory approvals, including TSXV's final approval, that that general business and economic conditions will not change in a material adverse manner and assumptions regarding political and regulatory stability in financial and capital markets.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not be able to proceed with the NQV Project as intended, or that the Company does not receive the required regulatory approvals, including the TSXV's final approval, recent market volatility and potentially negative capital raising conditions, the conflict in Eastern Europe, the Company's ability to raise the necessary capital or to be fully able to implement its business strategies and other risks and factors that the Company is unaware of at this time. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
