VANCOUVER, Feb. 28, 2018 /CNW/ - VANADIUMCORP RESOURCE INC. February 28, 2018, VanadiumCorp Resource Inc. (TSX-V: "VRB") and Electrochem Technologies & Materials Inc. ("Electrochem") are pleased to announce that they have jointly filed for an international patent application under the Patent Cooperation Treaty (PCT) on February 21st, 2018 in order to secure IP rights for the new VanadiumCorp-Electrochem technology worldwide.
The technology invented by Dr. Francois Cardarelli addresses the efficient recovery of vanadium compounds including vanadyl sulfate and vanadium pentoxide, ferrous sulfate heptahydrate (copperas), titania and silica by-products from vanadiferous feedstocks. The disclosed subject matter of the PCT application is strongly supported by results of metallurgical and chemical trials conducted at Electrochem's facilities located in Boucherville, QC, Canada.
The PCT Application is a unified international patent application with 152 participating independent states and countries. With the filing of the PCT Application, the VanadiumCorp Electrochem Process Technology is now protected and once the PCT will be issued patent applications will be filed in selected countries and become patent pending in the chosen national jurisdictions.
VanadiumCorp and Electrochem continue to receive expressions of interest from global energy storage companies, specialized chemicals and vanadium producers, specialty iron and steel companies to evaluate the technology and to negotiate commercial licensing agreements.
The current mandate is to focus on the steady production of large batches of vanadium compounds from various sources for final qualification by targeted end-users while interacting with the technical staff of several interested companies for on-site deployment followed by pilot testing.
Conventional pyrometallurgical processes utilize either direct soda ash roasting of the magnetite followed by water leaching, or the arc smelting and slagging of the magnetite followed by soda ash roasting of the vanadium-rich slag. Smelting or roasting is capital intensive with high operating costs, technical risks and significant emissions of greenhouse gases that pose serious environmental issues. Hydrometallurgical processes for the extraction of vanadium have been proposed in the last decade as a lower cost alternative in replacement of the conventional processes but they fail to produce a high quality iron co-product. The Vanadiumcorp-Electrochem Technology addresses these key issues and allows the full recovery of vanadium for the production of vanadium electrolyte (VE) or vanadium chemicals as well as the concurrent production of copperas, titania and silica by-products.
VanadiumCorp Resource Inc. is developing and exploring licensing potential for an innovative, carbon-free process technology that unlocks a new strategic supply of vanadium and coproducts such as titanium. Jointly developed and owned with Electrochem, this innovative chemical process allows for integrated and carbon-free recovery of critical metals needed on a global scale. VanadiumCorp also holds a significant vanadium-titanium-iron bearing resource base in mining friendly Quebec, Canada.
Electrochem Technologies & Materials Inc. is a private Canadian corporation that invents, develops, patents, scales-up and commercializes proprietary chemical, metallurgical and electrochemical technologies that are innovative, and sustainable. Electrochem owns the exclusive rights for its patented iron electrowinning process worldwide. The company also manufactures electrolyzers, industrial electrodes and produces tantalum and tungsten fine chemicals.
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 press release contains forward-looking information under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; VanadiumCorp's development potential and timetable of its operating, development and exploration assets; VanadiumCorp's ability to raise additional funds necessary; the future price of vanadium, titanium and iron; the realization of mineral resource estimates; development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. 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 VanadiumCorp to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of VanadiumCorp and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of VanadiumCorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. VanadiumCorp does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of VanadiumCorp's annual and interim MD&As.
SOURCE VanadiumCorp Resource Inc.
For further information: Adriaan Bakker, President and Chief Executive Officer - Direct: 604-385-4485