VanadiumCorp Resources Inc. (VRBFF): TGR: What are some other companies with...

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Monday, 02/21/2011 11:07:05 AM

Monday, February 21, 2011 11:07:05 AM

TGR: What are some other companies with vanadium projects?

CB: There is one in Canada called Apella Resources Inc. (TSX.V:APA; Fkft:NWN). I just started learning more about it. The company has two deposits in Quebec, one of which is the Iron-T iron/vanadium/titanium deposit. It has an inferred resource that's getting bigger as the company continues to drill. It's actually just in the early stages, putting together an NI 43-101 resource estimate this year. I'm interested to see what that will look like. But because the price of vanadium is making these projects economic, we're starting to see more of these companies poke their heads above water.

TGR: Apella's Lac Dore Vanadium Deposit is considered the second largest vanadium deposit in the world. But the geology there is somewhat different from American Vanadium's deposit in Nevada.

CB: Apella is a bit more focused on the Iron-T vanadium deposit than Lac Dore, even though Lac Dore is potentially one of the world's largest vanadium deposits. My understanding is that there's a disagreement at Lac Dore over staking, and Apella is working with the Quebec government to resolve the issues. But if that situation can be resolved favorably for Apella, this could be another one to watch.

TGR: How far is Apella from producing vanadium?

CB: The company tells me probably 36 months at Iron-T; it's got a long way to go. It needs to update the 43-101, and then the prefeasibility study, etc. But if Apella can keep moving forward and drilling, it will be one of the few companies with a major North American vanadium deposit to keep your eye on.

TGR: And there's some titanium in the Iron-T deposit, as well.

CB: Yes, Apella is billing Iron-T as an iron/vanadium/titanium deposit. I'm not sure about the grade of the titanium. I know the iron ore is about 30%, which isn't lights-out but it's nice to have. You really have two strategic metals there, which makes that deposit more economic.

http://house-mountain.com/wp-content/uploads/2011/01/Vanadium-Article.pdf