Delrey Metals Announces Four Corners 2019 Drill Program Plans

Delrey Metals

Mineral exploration company Delrey Metals (CSE:DLRY) (OTCPK:DLRYF) announced some exciting news Tuesday that will advance the development of its Four Corners Fe-Ti-V exploration project in Newfoundland.

The company revealed the plans for its 2019 drill program at the project. Delrey Metals plans to drill a total of 500 meters from 20 drill pads at its Keating Hill East Zone, which is designed to test over 3.5 kilometers of strike length. Delrey Metals will also be conducting follow-up prospecting and sampling at Bullseye, Four Corners, and Keating Hill West, as well as the newly discovered Keating Hill North Zones, and plans to conduct late-season drilling on the most-promising targets.

The drill plan, which will commence this month, is designed to generate a maiden resource estimate on the Keating Hill East Zone by this winter.

At the same time, the company has engaged Dr. Luke Longridge of CSA Global Canada Consultants to provide exploration advice ahead of the 2019 drill program. Dr. Longridge offers extensive experience working on vanadiferous, titaniferous magnetite projects in Canada and South Africa.

We are extremely excited to be nearing the launch of the 2019 drill program on our Flagship Four Corners Project in Newfoundland and Labrador,” said Delrey Metals’ President and CEO Morgan Good. “Having expertise from professionals such as Dr. Longridge, with his vast experience working and advancing vanadiferous, titaniferous magnetite projects truly do add significant value to the Delrey story as we push forward on our path to generating the Company’s maiden resource estimate.”

Enter Your E-mail Address To Subscribe

* indicates required
 

>> WKHS Stock Extends Rally, Up 55% in One Month

Delrey Metals Advances Development of Four Corners

The 2019 drill program plan comes just one week after Delrey Metals received permits to establish up to 20 drill sites and four trenches at the Four Corners property. In order to maintain low-cost highway access, the Delrey Metals team will be staying at an existing camp close to the flagship target where drilling will take place.

The Four Corners project, which is considered “one of the largest and most accessible vanadium projects in North America,” now totals 7,655 hectares after Delrey Metals added two additional claims to the land package to comprise the project’s entire magnetic anomaly.

The project offers excellent infrastructure, low exploration and development costs, and has returned very encouraging metallurgical results for iron, vanadium, and titanium.

Delrey Metals is developing the Four Corners Fe-Ti-V project at a time when both iron ore and vanadium are in high demand. Iron ore prices recently hit a five-year high of $126 per tonne this month, thanks to global supply shocks from iron mining giants. Meanwhile, growing demand for vanadium redox batteries is expected to create a $56 billion USD market by 2026, representing a CAGR of 6.6%.

Delrey recently reported assays from the project that revealed iron results ranging from 19.16% iron oxide up to 48.61% iron oxide, with an average grade of 35.07%. Preliminary metallurgical tests at Four Corners also yielded positive vanadium recoveries over 90%.

It will be exciting to see what kind of results will come from the 2019 drill program at the Four Corners project.

Delrey Metals’ share price reacted favorably to the news Tuesday, increasing by 12.5% to $0.09 CAD by 3:20 pm EST on the CSE. The stock also went up on the OTC, rising 16.28% to $0.07 USD.

>> Read More Metals & Mining News

Featured Image: Delrey Metals

Please See Disclaimer


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of a third party, Delrey Metals Corp.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on Microsmallcap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on Microsmallcap.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.