Vancouver February 13, 2024. Great Republic Mining Corporation (“Great Republic or the Company”) GRM.CSE is pleased to announce the results of the 2023 prospecting, sampling and ground geophysics program on Company’s Porcher Island Vanadium-Titanium-Iron Property (“Porcher Island” or “the Property”) in British Columbia, Canada. The field program expanded Vanadium mineralization discoveries on the Porcher Island Property located on tidewater, 40 kilometers from the deepwater, all-season port of Prince Rupert.
CEO of Great Republic Mining, Fred Davidson, comments “The Company recognizes the importance of vanadium for industrial uses as well as the emerging Vanadium battery technologies. Our project is advantageously located on the Pacific coast. Our field program has demonstrated both the presence of significant Vanadium values in the context of encouraging, large scale magnetic anomalies over an area of several square kilometres.”
2023 ProgramThe multi-disciplinary program consisted of sampling a plus a reconnaissance ground magnetic survey over the central portion of the complex to augment earlier airborne magnetics, where the target geology is anomalously magnetic (see figures 1 & 2).
- 30 rock samples were taken with values ranging with the highest being 0.17% V which is equivalent to 0.303% V205.
- 2019 airborne magnetic geophysics was utilized, and ground truthing confirmed a number of distinct high magnetic anomalies.
- 5 line-km of ground magnetics were conducted in a core area, highlighting numerous localized magnetic highs for future exploration.
- The 2023 field program confirmed the potential for mineralization of a large-scale stratified Vanadium-Iron-Titanium mineralized system on the Company’s Porcher Island Property.
- Historic airborne magnetics survey highlighted two other areas, 2.5 by 4.5km and 2 by 3km which were sampled, returning anomalous vanadium which will be followed up.
GEOLOGY AND MINERALIZATION
Great Republic’s Porcher Island Property contains strongly magnetic units of interbedded, coarse to fine gabbros and pyroxenite that intrude into fine-grained volcanics. Mafic units are composed of interbanded hornblende gabbro, anorthositic gabbro, and pyroxenite. Vanadium mineralization is found within seams of titaniferous magnetite and ilmenite in the gabbro and pyroxenite units. Clustered mineralized seams identified to date, individually of up to half a meter thick, run north to south and at a moderate dip primarily along ridges on the Property.
Vanadium mineralized units strongly correlate within strongly magnetic signatures trending north to south throughout the Porcher Island Property. A previous 2019 exploration program highlighted numerous seams associated with magnetic highs with values ranging from 0.04% V2O5 to 0.42% V2O5 (Figure 1). The 2023 field exploration program continued to focus on mapping and sampling of mineralized areas highlighted in the 2019 field program. Values ranging from below detection to 0.17% V validating previous work and highlighting new potential seams (Figure 2). 5 line-km at 100 meter spacing of ground magnetics were conducted over a core area of known Vanadium mineralization and airborne magnetic highs to validate the technique for future exploration campaigns. This 2023 ground magnetics survey highlighted numerous localized magnetic highs for future mapping and sampling as well as provided a higher resolution survey to help build a structural model of the Porcher Island Property (Figure 2). The 2019 airborne magnetic survey produced two large 2.5 by 4.5km and 2 by 3km anomalies leaving ample room for further ground magnetics and prospecting in future, more comprehensive campaigns.
Outcropping grab rock sampling returned a sample with 0.17% Vanadium, which is equivalent to 0.303% Vanadium Pentoxide. Assay values encountered at Porcher Island compare favorably to mineral resources of global peer projects like Tivan Limited Speedwah in Australia which hosts:
|
JORC Classification |
Tonnage (Mt) |
V (%) |
V205 (%) |
|
Measured |
322.00 |
0.18 |
0.32 |
|
Indicated |
1054.00 |
0.18 |
0.33 |
|
Inferred |
3335.00 |
0.16 |
0.29 |
Due to the effects of rounding, the total may not represent the sum of all components.
*V2O5 calculated as V x 1.785. Tivan Limited completed a Peer Review analysis of hard rock vanadium in titanomagnetite resources in Q1 2023, in accordance with Austral Stock Exchange ASX Compliance Update, 19 September 2018, Update no 08/18.
The qualified person has not verified the information on the Speedwah Project and the information disclosed is not necessarily indicative of mineralization on the Porcher Island property.
Sampling and Laboratory Methodology:
Samples were taken using rock hammers and placed in poly sample bags with a location point taken using a GPS. The samples were then taken to the ALS prep sample lab in Terrace, BC. Samples were prepared using PREP-31. Samples were then shipped to ALS Vancouver (an accredited laboratory) and analytical methods ME_XRF21n and ME-ICP61 were utilized run. ME_XRF21n is a lithium borate fusion and XRF finish to for the Vanadium, Iron, and Titanium potential. ME-ICP61 is a four acid digest to provide a strong geochemical dataset for results.
Vanadium
The commercial equivalent Vanadium Oxide V2O5 trades at market price of US$ 5.80 per pound (US$12,970/t) and converts to a factor of 1.7852 to 1 unit of Vanadium. Vanadium demand is growing in new battery technology applications such as stationary redox energy storage facilities supplementing the demand in traditional steel alloys.
About Great Republic Mining Corp.
Great Republic is a Canadian exploration company engaged in the business of acquiring and exploring mineral resource properties – founded by a team with extensive geological, mining, and capital markets experience. Great Republic has an option to acquire a 100% interest in the Porcher Property, which is composed of nine contiguous mineral titles covering an area of 3,560.4 hectares in the northwest part of British Columbia, Canada, approximately 40 kilometres southwest of the city of Prince Rupert on Porcher Island.
The technical information on this press release has been reviewed and approved by Derrick Strickland P.Geo. (100315) and Qualified Person undern NI43-101.
On Behalf of the Board of Directors
Jerry Huang
Chief Financial Officer and Director
For further information, please contact:
Jerry Huang
Chief Financial Officer and Director
Tel: 778-887-6489
Email: info@greatrepublic.ca
Website www.greatrepublic.ca
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding Great Republic’s exploration plans. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Great Republic will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.