In 1942, a private prospector, Louis Gibellini, discovered a nickel-cobalt-manganese deposit adjacent to the Bisoni McKay Property. It is believed that Mr. Gibellini staked
all three project areas, the Gibellini, the Bisoni and the Bisoni-McKay Properties, at that time. The US Bureau of Mines ("USBM") studied the nickel-cobalt-vanadium deposits
on the Bisoni and Bisoni McKay Properties in 1944 and again in 1946. In 1956, Union Carbide Nuclear Corporation discovered vanadium on the Bisoni claims and conducted the first
extensive evaluation of the Bisoni and Bisoni McKay Properties in 1958 and 1959.
Subsequently, several major mining companies, including Kerr McGee Oil and Gas Corporation, Transworld Resources [TransWorld Oil & Gas Ltd.], Atlas Minerals [Atlas Minerals
& Chemicals Inc.?] and Noranda Inc., conducted geological and metallurgical investigations on the nearby Bisoni and Gibellini Properties. Noranda drilled 52 reverse circulation
drill holes on the Gibellini Property and a further 47 drill holes on the Bisoni Property defining mineralization of 12 million tons of 0.43% V2O5 on the Gibellini Property and
260,000 tons of 0.41% V2O5 on the Bisoni Property. In the early 1970's Noranda also conducted extensive metallurgical research on the Nevada Vanadium Belt vanadiferous ores at
the Colorado School of Mines Research Institute. In 1974, Noranda decided that the properties were uneconomic based on low metal prices.
In the 1970's, Hecla Mining Company ("Hecla") conducted a comprehensive exploration program in the Bisoni McKay including extensive trenching and drilling 19 reverse circulation
holes (summarized in the table below). Hecla estimated the Bisoni McKay Property hosted "reserves" of 6.1 million short tons at 0.39% vanadium pentoxide (V2O5) to a depth of 144
feet below surface (not NI 43-101 compliant).
Hecla Drill Hole
Depth(ft)
V2O5(%)
BMK 1
250
0.29
BMK 2
250
0.34
BMK 3
250
0.39
BMK 4
280
0.30
BMK 5
180
0.11
BMK 6
95
0.33
BMK 7
200
0.30
BMK 8
150
0.40
BMK 9
270
0.16
BMK 10
300
0.11
BMK 11
300
0.10
BMK 12
350
0.19
BMK 13
400
0.15
BMK 14
350
0.21
BMK 15
350
0.14
BMK 16
350
0.32
BMK 17
(450 to 500) 50
0.38
BMK 18
400
0.47
BMK 19
250
0.30
Two small companies, TRV Minerals Corp. and Inter-Globe Resources Ltd., acquired all three properties (the Bisoni, Gibellini and Bisoni McKay) in 1981 and conducted bulk sampling
for heap leach testing of the vanadiferous ores at BC Research Inc. Initial metallurgical tests indicated that acceptable recoveries may be possible by heap or dump leaching.
Subsequently, the three properties were returned to the original owners. In 1998 all three property claims were vended into Vanadium International Inc., an OTC-BB publicly traded
company. Vanadium International Inc. subsequently changed business direction and allowed the claims to lapse. In 2001, the claims covering the Bisoni McKay, and some of the Bisoni
and Gibellini Properties were then re-staked by Dennis LaPrairie, who, in 2004, transferred them into his private company Vanadium International Corp. (VIC).
