- Victory Goldfields (1VG) identifies a major alkaline igneous complex at its bullseye magnetic anomaly at the North Stanmore project in WA
- Initial assays have been received from one diamond hole that was drilled to test the bullseye magnetic anomaly
- Overall, up to 1022 parts per million (ppm) nickel, 127ppm cobalt and 244ppm copper was uncovered
- ALS laboratory is undertaking assay for rare earth elements (REE) and platinum group metals with results expected shortly
- Victory is steady on the market with shares trading at 20 cents at 12:29 pm AEST
Victory Goldfields (1VG) has identified a major alkaline igneous complex at its bullseye magnetic anomaly at the North Stanmore project in WA.
Initial assays have been received from one diamond hole that was drilled to test the bullseye magnetic anomaly.
The hole was drilled to a depth of 298 metres and was forced to stop when a shear zone was intercepted and drilling could not continue.
Overall, up to 1022 parts per million (ppm) nickel, 127ppm cobalt and 244ppm copper was uncovered.
ALS laboratory is undertaking assay for rare earth elements (REE) and platinum group metals with results expected shortly.
“Victory is extremely encouraged to have these results from just one diamond hole that was drilled in the centre of the bullseye magnetic anomaly,” Executive Director Brendan Clark said.
“With this latest discovery confirming that Victory has identified a previously unknown alkaline intrusion which are the engine rooms for formation of rare earth element mineral deposits, the company is rapidly emerging as a multi-commodity exploration company.
“Victory has strengthened its technical team with the appointment of one of Australia’s leading REE and critical metal experts, Emeritus Professor Kenneth Collerson, to ensure the company is well equipped to manage the further exploration for this outstanding discovery.”
Victory was steady on the market with shares trading at 20 cents at 12:29 pm AEST.