CellCube spins out its vanadium mines

October 12, 2018 // By Nick Flaherty
CellCube spins out its vanadium mines
US vanadium flow battery make CellCube is to spin out its vanadium deposits in Nevada next month.

The move, into a new copany called V23 Resources, marks a move away from vertical integration designed to protect an essential component in the battery system after its acquisition of Austrian flow battery innovator GILDEMEISTER last year.

Cellcube owns the Bisoni Mackay and Bisoni Rio vanadium assets in Nevada, and intends to retain a 19.9% interest in V23, in addition to certain off-take rights and a net smelter royalty. 

"Vanadium has become the new battery metal story and is highly valued for energy storage," said Mike Neylan, CEO of CellCube. "The price of vanadium has increased by 500% since 2016, outperforming any other battery metal. It is the intention of V23 to seek a public listing in the immediate future."

The vanadium belt of central Nevada is host to a significant concentration of single-product vanadium deposits in North America such as the Bisoni McKay and Bisoni Rio properties, and Prophecy's Gibellini property. CellCube's Bisoni McKay property is a high-grade, pure play vanadium project. Previous drilling has revealed the occurrence of high-grade V2O5 (vanadium pentoxide) in the primary (carbonaceous shale) mineralized material which contains the largest vanadium resource on the property. Several drill holes completed in primary mineralization suggest the deposit is open at depth in some areas and an enrished zone of up to 35 feet in width has been identified immediately below the redox zone

CellCube's Bisoni McKay and Bisoni-Rio project is one of the largest pure play vanadium projects in North America with 4,115 acres contiguous to the Gibellini deposit held by Prophecy Development Corp. Vanadium is most often found in association with other metals such as iron, lead or uranium that must first be removed before vanadium recovery, but the drilling and exploration so far has indicated that Bisoni McKay's pure play vanadium resource does not possess any significant concentrations of any of these metals.

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