Currie Rose Completes Drilling Program and Commences Environmental Studies at the North Queensland Vanadium Project in Australia
Toronto, September 27, 2023 - Currie Rose Resources Inc. (TSXV: CUI) ("Currie Rose" or the "Company") is pleased to announce that the "infill" large diameter (100 mm) core drilling program at the Cambridge Vanadium Deposit1 has been completed successfully and also advises that the Company has engaged specialist environmental consultancy, Epic Environmental Pty Ltd ("Epic Environmental"), to commence environmental baseline assessments at the Company's 100%-owned North Queensland Vanadium Project ("NQVP") located about 450 km west of Townsville, Queensland, Australia, in the Julia Creek-Richmond critical mineral zone.
Highlights:
- Ten (10) large diameter (100 mm) 4C core drill holes completed
- Downhole Gamma and Density geophysics completed on all drill holes
- All core dispatched to Mitra PTS Laboratory for processing
- Desktop ecological study underway
- Flora and water studies initiated
Simon Coyle, Currie Rose's President and CEO, commented:
"Completion of our first drill program at the Cambridge Deposit is another milestone for the Company. This work will provide the platform for several workstreams over the wet season, but most importantly, we have a good quantity of sample for metallurgical test covering the bulk of the Cambridge deposit."
"We are also pleased to have started our first environmental studies at the NQVP. Investing in the environmental baseline data in the early planning stages of the Project will facilitate timely and science-based approvals necessary for the subsequent development stages. Starting the work now ensures we are on track for production success in the near term."
NQVP covers over 300 km2 of the outcropping Toolebuc Formation (vanadium host rock) within approximately 1,250 km2 of granted 100%-owned tenure in northwest Queensland. The centrally located Cambridge Vanadium Deposit hosts NI 43-101 compliant Indicated Mineral Resource2 of 61.33 Mt @ 0.34% V2O5 and Inferred Mineral Resource of 144.87 Mt @ 0.33% V2O5.
Figure 1 - North Queensland Vanadium Project Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2005/182002_a0377e17b421d979_001full.jpg
Drilling Program
A total of ten (10) drill large diameter 4C core (100 mm) drill holes, totaling 333 metres, have been completed from within the Cambridge Deposit (Table 1). Downhole Gamma and Density geophysics was also completed on all drill holes for stratigraphic analysis and to assist with planned metallurgical studies.
Two holes (NQVP23-004 and NQVP23-007) have been conditioned for water monitoring purposes and part of the ground water studies conducted by Epic Environmental.
Core has been dispatched to Mitra PTS in Gladstone, Queensland for processing, and all data collected from the program is now being collated. The Company will provide further updates on the drill program data as they come to hand.
Photo 1 - NQVP23_005 - Typical Oxide Zone - Cambridge Deposit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2005/182002_a0377e17b421d979_002full.jpg
Environmental Studies
Epic Environmental Pty Ltd is a highly experienced environmental group with extensive experience in the Richmond-Julia Creek region of Queensland. Their engagement at this stage in the Project is to ensure that there are no delays to the development of the Project due to baseline data collection for potential development of the project.
The scope of work includes an initial desktop ecological assessment, collating all the public data for the area, and first pass "on-ground" flora and fauna observations. In addition, studies have also included surface water, groundwater, and air quality monitoring. These studies are long term, and the Company will provide further updates as available.
| Hole ID | Core Type | Easting_X | Northing_Y | Depth (m) |
| NQV23_001 | 4C Core | 692239 | 7734776 | 30 |
| NQV23_002 | 4C Core | 692122 | 7733776 | 31 |
| NQV23_003 | 4C Core | 693171 | 7734158 | 37 |
| NQV23_004 | 4C Core | 693047 | 7733163 | 36 |
| NQV23_005 | 4C Core | 694351 | 7735523 | 37 |
| NQV23_006 | 4C Core | 694201 | 7734286 | 25 |
| NQV23_007 | 4C Core | 695095 | 7733418 | 36 |
| NQV23_008 | 4C Core | 695221 | 7734412 | 26 |
| NQV23_009 | 4C Core | 692334 | 7735515 | 20 |
| NQV23_010 | 4C Core | 693297 | 7735149 | 55 |
| Total | 333 | |||
| EPSG:7854 - GDA2020 / MGA zone 54 | ||||
Table 1 - 4C Core Holes Location
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 Solid-State Hydrogen Storage 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.
1 Refer to TSXV Announcement dated 22 August 2023 - Currie Rose Commences Core Drilling at the North Queensland Vanadium Project in Australia
2 Refer to TSXV Announcement dated 1 November 2022 - Currie Rose Announces Updated Mineral Resource Estimate at its North Queensland Vanadium Project
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182002