Toronto, Ontario–( November 22, 2021) – Currie Rose Resources Inc. (TSXV: CUI) (“Currie” or the “Company”) is pleased to advise that the Company has filed the requisite documents with the Exchange and expects to resume trading effective Wednesday November 24, 2021.
Currie has been in a trading halt since 27th October 2021 when it advised the market that the Company would acquire 100% of two Vanadium (Battery Metal) Projects (the “Project”) located in Central North Queensland, Australia (Figure 1).
Figure 1 – North Queensland Vanadium Project Location
To view an enhanced version of this graphic, please visit:
The North Queensland Vanadium Project (“NQVP”) is the merger of the Toolebuc and Flinders River Vanadium Projects and is situated approximately 400km west of the port of Townsville (Figure1).
NQVP covers an area of approximately 124,000Ha and is close to rail, road, and power infrastructure.
Third party developments in the area have identified the region as a potential Vanadium Hub.
Table 1 – Historic Cambridge Inferred Resource Estimate1
|Resource Category||Million tonnes||V2O5 %||MoO3ppm|
Notes – See Footnote 1
- Reported above a V2O5 cut-off grade of 0.25%
- Tonnages and grade have been rounded to reflect the relative uncertainty of the estimate
Preliminary independent metallurgical studies by Liontown, have confirmed that the historic Cambridge Resource is shallow, oxidised, soft, friable and free digging. The ore is considered suitable for pre-concentration with potential pathways to economic processing.
Wide spaced geological and geophysical data is also at hand and priority targets for first pass exploration have also been identified. See Company’s news release dated 27 October 2021 for further project and transaction details.
Vanadium has been identified by the Canadian, United States and Australian Governments as a critical mineral for both alloy steel production and large low carbon power applications – Vanadium Redox Flow Batteries (VRB) for large scale modular energy storage.
Demand for Vanadium is expected to increase over the next few years especially in the battery area and, also within the steel industry due to anticipated significant global infrastructure developments planned because of the global pandemic. Company management is of the view that the current significant Vanadium shortages due to increasing global steel demand could be further exacerbated with expected commercialisation and supply of VRB.
The North Queensland Vanadium Project (“NQVP”) has large scale potential in a mining friendly, 1st world jurisdiction and is well poised to be a strong contributor to the world market. The Project is well advanced in terms of drilling and preliminary metallurgical testing.
VRB development is advancing at pace. Compared to other commercial scale renewable battery solutions the VRB offers:
- Low carbon footprint of both the production and battery life.
- Significantly faster charging than peers.
- Significantly higher charging capacity.
- Large, scalable energy storage for electrical grids and microgrids.
- Rapid release of large quantities of energy.
- Increased safety – non-flammable.
- Reduced cost versus lithium-based energy Storage and batteries
- Re-usable Vanadium electrolyte are recyclable, resulting in longer life span compared to other batteries
For Additional Information please contact:
Mike Griffiths, CEO
Catherine Beckett, Manager Corporate Affairs
About Currie Rose Resources Inc.
Currie Rose is a precious and battery metal explorer focused on identifying high value assets in Canada and Australia. Our immediate focus is the advanced North Queensland Vanadium Project in Queensland Australia.
Please visit our website located at www.currierose.com
The Currie Rose 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 Currie Rose Resources by Michael Griffiths, FAusIMM, President & CEO for Currie Rose Resources, a Qualified Person.
Forward Looking Statements
Neither the 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.
This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. Statements about the closing of the transaction, expected terms of the transaction, the number of securities of Currie Rose that may be issued in connection with the transaction, and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.