Victory Goldfields (ASX:1VG) has discovered an alkaline intrusive complex at the company’s bullseye magnetic anomaly at North Stanmore in Western Australia.
Initial assays, with anomalous Nickel, Cobalt and Copper, have been received from one diamond drill hole designed to test the bullseye magnetic anomaly at North Stanmore.
A reconnaissance petrological study is now completed. Significant results from the latest assay batch includes Ni up to 1022ppm, Co up to 127ppm and Cu up to 244ppm. Refer to Appendix 2 and 3 for a full table of assay results.
ALS laboratory has been commissioned to complete priority assays for Rare Earth Elements and Platinum Group of Metals with results expected imminently.
“Victory is extremely encouraged to have these results from just one diamond hole that was drilled in the centre of the bullseye magnetic anomaly. The company considers the outlook from further exploration of being favourable considering the type of minerology that has already been intercepted,” 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 xompany is well equipped to manage the further exploration for this outstanding discovery”
Victory Goldfields
Victory has systematically built a portfolio of assets in the Cue goldfields. Cue is located in the mid-west region of Western Australia, 665 kilometres north-east from Perth. The Cue goldfields are regarded as one of the most prestigious mining districts of Western Australia with a long and successful history of gold exploration and production.
The Company’s strategy is to undertake best practice exploration and development of the Victory tenements to identify Mineral Resources and Ore Reserves within its tenement land holding. Leveraging its land holding position, Victory also aims to acquire additional gold opportunities within the Cue goldfields district, either through joint venture or tenement acquisition.
For further information please visit: https://www.victorygoldfields.com.au/
