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News Update


Firm Provides Update on Gold Target at Carlin Trend Project
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First Vanadium provides visual observations from the four holes drilled in November and December at the Carlin Vanadium-Gold Property.

First Vanadium Corp. (FVAN:TSX.V; FVANF:OTCQX; 1PY:FSE) announced in a news release information about the gold target at the Carlin vanadium-gold project in Nevada's Carlin Trend, in which it placed seven drill holes late in 2020. The company noted it draws this information from drill results of holes RC20-01 through RC20-03 and visual assessment regarding holes RC20-04 through RC20-07, assays for which are pending.

"The target is evolving very nicely with many positive qualities of substance," First Vanadium's Geological Adviser Dave Mathewson said in the release. "Drilling to date has delivered proof of a gold system with widespread solid attributes, similar to deposits and mines in the Carlin Trend; favorable depth, rock host, size and intensity and extent of brecciation, sulfides, pathfinder metallization and alteration."

The company noted that all seven holes indicate that upper plate Woodruff rocks occur from surface to an average depth of about 850 feet. The next layer down to about 1,600 feet is made up of lower plate Rodeo Creek rocks, and below those are Popovich rocks. "These are the host rocks, in particular Rodeo Creek and Popovich, to the majority of the big, and also the compact high grade gold deposits and mines in the Carlin Trend," according to the company.

First Vanadium also stated, "The amount of disseminated and veined pyrite in holes RC20-05 through -07 varies between 2 and 10 % within the Rodeo Creek and Popovich units (the Rodeo Creek in hole 4 was oxidized). This amount of sulfide not only signifies a large sulfide plume indicative of a large system, but is strikingly similar to typical amounts in the major mines in the Carlin Trend. It also means the geophysical IP program in progress will provide a vital picture of the size, shape and orientation of the system, including, prospectively, the important feeders to the system, a critical vectoring tool for subsequent drilling."

The company additionally noted that "approximately 65% of the Rodeo Creek and Popovich rocks cut in RC20-05 and -07 show collapse brecciation, and approximately 50% in RC20-06. Collapse breccias are a clear sign of decalcification leading to increased porosity for gold solutions to migrate into and mineralize the open spaces. Collapse breccias are a vital element to most of the large deposits in the Carlin Trend. The amount of brecciation in holes RC20-01 and RC20-04 through -07 is similar to deposits and mines in the Carlin Trend."

Many of the Rodeo Creek rocks cut in RC20-01 and RC20-04 through -07 are "significantly silicified, pervasively and veined," the release noted. Similarly, the Popovich rocks cut in RC20-01 and RC20-05 through -07 are extensively silicified throughout. Some of the holes also showed the presence of dolomite and ferro-dolomite in the Rodeo Creek and Popovich rocks.

"Results from RC20-01 through -03, previously reported, define a Carlin-style gold system with dimensions of at least 500m vertically and 1.4 kilometer long," Fist Vanadium reported.

The current IP geophysical survey has completed two of the planned six lines, the company stated.

First Vanadium has the option to earn a 100% interest in the Carlin project.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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