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News Update


Explorer Identifies Root Network to Gold System in Nevada's Carlin Trend
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An induced polarization survey revealed this root system at First Vanadium's Carlin Gold-Vanadium Property.

First Vanadium Corp. (FVAN:TSX.V; FVANF:OTCQX; 1PY:FSE) provided in a news release "initial results from its Induced Polarization (IP) survey over the gold system on its Carlin Gold-Vanadium Property on the Carlin Gold Trend of Nevada."

The company noted that "Dave Mathewson, geological advisor, and Jim Wright, former Newmont senior geophysicist, have identified part of the large north-south oriented root system to the much larger sulfide plume related to the gold system by IP."

This root system, identified through initial IP survey results, spans up to 750 meters (750m) in width, oriented east to west, has a strike length perpendicular to that of at least 1.2 kilometers long and extends more than 500m vertically. The system remains open to the north and to the south.

"This is an exciting development. Our IP survey solidifies and advances our thinking significantly, forming a new stage of probability. Our drilling results coupled with the IP survey is a powerful combination of exploration tools to vector into the hot spots comprising the gold feeder zones of the system. The positive surprises from both drilling and IP demonstrate the system is bigger than anticipated," Dave Mathewson said in the release. "The IP now shows the overall size, shape and location of the root system and points to higher sulfide portions."

Jim Wright noted that the "IP data quality is excellent with clear depth penetration in the order of 800 m (2625 ft), giving rise to a good solid moderate to strong chargeability anomaly, typical of abundant sulfides." The anomaly coincides with Rodeo Creek and Popovich units, host rocks to most of the Carlin Trend's sizable and compact high-grade gold deposits.

Assays and geochemical analyses from First Vanadium's final four drill holes of last season, RC20-04 through RC20-07, have been received. "Reflecting proximity to the root system, all typical pathfinder elements used to define a Carlin gold system are strongly present in these holes; arsenic, antimony and mercury and to a lesser extent thallium, silver, barium and zinc," the company noted.

"The zonations displayed from these pathfinder elements point favorably immediately westward towards the root system," the release stated.

"I am very encouraged with these assay and geochemistry results and keen to test the root system with our next round of sharpshoot drilling," Mathewson stated.


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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