Geology and Mineralization
The Carlin Vanadium Property is located on the western flank of the Piñon Range, a block faulted horst of the basin and range tectonic province. The local lithologies are predominantly Paleozoic age, western assemblage, siliceous rocks transported above the Roberts Mountain Thrust. The vanadium mineralized zone is a stratigraphic sub-unit within the Woodruff Formation shale hosting elevated concentrations of vanadium in the form of vanadium pentoxide (V2O5). Drilling indicates a vanadium zone or deposit approximately 55m (180 feet) thick striking north-south over 1,860m (6,100ft) in length and dipping 5°-30° west averaging 760m (2,500ft) of down dip extent from surface. The mineralized unit is locally exposed on surface where it cuts topography but mostly is found at shallow depths, commonly between 15-60m (50-200 ft) below surface.
The vanadium-rich unit has grades commonly between 0.3% and 0.8% V2O5 but can reach as high as 3.1% V2O5. Limited sampling of the Vanadium-rich unit has also shown elevations in silver and zinc.