- Victory Mines (VIC) applies for an additional five exploration licences located north of the Mt Ida Goldfield through to the Ida Valley in WA
- If all exploration licences are granted, the company will have around 900 square kilometres of highly prospective ground for gold, nickel and lithium
- Next month a detailed aeromagnetic and radiometric survey will be conducted over the entire Mt Ida Project area
- Survey results are expected in December with geophysical interpretation anticipated to be completed in early 2022
- Victory closed the day’s trading in the grey with shares at 0.2 cents each
Victory Mines (VIC) has confirmed it has applied for an additional five exploration licences that are located north of the Mt Ida Goldfield through to the Ida Valley in WA.
If all exploration licences are granted, the company will have around 900 square kilometres of highly prospective ground for gold, nickel and lithium.
Victory’s Mt Ida-Ida Valley project is located north of the historic Mt Ida Goldfield, which was recently purchased by Red Dirt Mining (RDT).
The pegmatites from this historic mine are likely to extend northwards where VIC’s exploration licences applications are located.
Next month a detailed aeromagnetic and radiometric survey will be conducted over the entire Mt Ida Project area.
Flight line spacing will be 50 metres using a survey sensor height of between 35 and 45 metres with a total of approximately 21,000 kilometres of flight lines to be conducted.
Survey results are expected in December with geophysical interpretation anticipated to be completed in early 2022.
Executive Director Matthew Blake commented on the announcement.
“Victory now has a significant exploration portfolio in a highly prospective area commencing from just north of the historic Copperfield‐Mt Ida Goldfield and covering the northward extensions of potential granites, pegmatites and E‐W and N‐S structurally controlled ultramafic intrusives,” he said.
“Our new aeromagnetic survey is timely as it should provide us with valuable new radiometric and magnetic information for our ground follow‐up evaluation of potential new nickel/copper, gold/pgm and now lithium activities.”
Victory closed the trading day in the grey with shares at 0.2 cents each.