Sampling Program Identifies Significant Vanadium Concentrations
TORONTO, June 19, 2018 /CNW/ - Canada CellCube Energy Storage Systems Inc. (formerly Stina Resources Ltd.) ("CellCube" or the "Company") (CSE: CUBE) (CSE: CUBE.CN) (OTCQB: STNUF) (Frankfurt: 01X) is pleased to announce that a recent sampling program in three historic trenches has identified the presence of significant vanadium concentrations in both its Bisoni-Rio and Bisoni McKay properties. The claim groups are located adjacent to, and along the strike from Prophecy Resource's Gibellini property in central north eastern Nevada.
In the Bisoni-Rio property, the sampling program was conducted in two historic trenches where there is no historic data currently available. The northern trench of the Bisoni-Rio (south of Gibellini), is approximately 5 km from the north of the northern limit of the Bisoni McKay claims. The southern trench on the Bisoni-Rio is located approximately 2.5 km south of the northern trench.
Highlights
- Six 1.5m (5ft) channel samples that were across a 30m zone from the more northern trench on the Bisoni-Rio averaged 0.18% V205 over a sampled length of 30m (98 ft), the highest-grade sample contained 0.50% V2O5 over 1.5 m (5 ft). Note - since these samples were not continuous over the full zone, the reported grade may not be representative of the actual grade of the trench.
- To the south, 14 samples in a continuous channel (each three metres in length) were collected yielding 0.07% V205 over 42m (138 ft).
- In both trenches, the material sampled was highly weathered rubble, which appears to be Woodruff Formation shale, and is lying on surface. Such material would be expected to be depleted in vanadium concentrations.
- On Bisoni McKay, 15 continuous channel samples averaged 0.35% V2O5 over 45m.
"We are delighted that recent sampling program indicates the presence of highly significant concentrations of vanadium mineralization between the Gibellini property and our Bisoni McKay and Bisoni-Rio claims," stated Mike Neylan, President and CEO of CellCube.
In addition, one trench was sampled on the Bisoni McKay property at the south end of Area B. Continuous channel samples were collected at 3m (10ft) intervals across 45m (147 ft) of trench. Assays averaged 0.35% V205 over the whole width of the trench, with a maximum sample value of 0.45% V205.The material sampled is from the target Devonian Woodruff Formation and appears to be from the transition zone between oxidized and reduced zones. This trench is located approximately 1,300 m south of the southern most extent of the known Mineral Resources (which were reported in a company news release on September 13, 2016). The grade and width of the mineralized zone are consistent with grades and widths within the area of Indicated Mineral Resources further north.
Sample preparation was carried out by ALS Geochemistry Analytical Lab in Reno NV, and the samples were analysed by ICP-MS, after a four-acid digestion, also at ALS in Reno, NV.
Qualified Person
The disclosure of technical information contained in this release has been reviewed and approved by Chris M. Healey, P. Geo., who is a geological consultant for the company, and a qualified person as defined under NI 43-101. Mr. Healey also personally collected, or supervised the collection of, the samples reported in this release.
About CellCube Energy Storage Systems Inc.
Cellcube's acquisition of the assets of Gildemeister Energy Storage GmbH has transformed Cellcube and its wholly owned subsidiary, Enerox GmbH, into a leading integrated resource and energy storage company. Together with the Company's recent acquisition of Jet Power & Control Systems Ltd. (now renamed EnerCube Switchgear Systems Inc.) and Hillcroft Consulting Ltd. (now renamed PowerHaz Energy Mobile Solutions Inc.) and its investment in Braggawatt Energy Inc., Cellcube is gearing up to deliver fully vertically integrated energy storage solutions to utilities and independent power producers for both stand-alone energy storage projects as well as projects where energy storage enhances the value proposition from renewable energy generation.
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at http://www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
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SOURCE CellCube Energy Storage Systems Inc.
For further information: Glenda Kelly, Investor Communications, CellCube Energy Storage System Inc., Telephone: +1-800-882-3213, Email: [email protected]
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