Gossan Resources (VSE) has signed an agreement with Cross Lake Mineral Exploration to explore an ilmenite-vanadium-iron property in northern Manitoba.
Mineralization in the Pipestone-Cross Lake area occurs in three parallel, east-west-striking zones over a minimum strike length of 6.5 miles.
A sample collected and analyzed by Manitoba Energy and Mines contained 43.1% ilmenite, 1.26% vanadium pentoxide and 55.6% magnetite. Preliminary metallurgical testing indicates these minerals can be separated into clean salable products, Gossan reports. A 3,600-lb. bulk sample from the property is being tested at Laurentian University in Sudbury, Ont.
The property is held 51% by Manitoba-based Gossan and 49% by Cross Lake, which is controlled by the Cross Lake First Nation Indian band.
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