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Victory Metals Inc.
Summary
| Project: | Iron Point | |
|---|---|---|
| Deposit: | Iron Point | |
| Location: | United States | |
| Commodities: | Vanadium | |
| Date: | 2/28/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-2-2019: Victory Metals Inc. announces an Exploration/Drilling Update report for its Iron Point deposit at the Iron Point project. Drilling results incl. 175.0m @ 0.25% V2O5 from 0m. Collin Kettell, CEO of Victory stated, "The first RC holes from our ma | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Calvin Herron (Not stated) | |
| ABSTRACT: | Collin Kettell, CEO of Victory stated, "The first RC holes from our maiden drill program at Iron Point were chosen to confirm the vanadium mineralization and grades reported in historical holes drilled by Newmont in 1966 and Aur Resources in 1996-1997. The significance of Victory's first eight holes cannot be understated. We have not only confirmed the widespread nature of vanadium mineralization along and across strike, we have also extended vanadium mineralization to a depth of 175m (575 feet) with the discovery of the New High Grade Zone. Grades obtained by Aur Resources underrepresented vanadium values as their holes did not fully recover higher-grade mineralization hosted in fractured zones. Victory's drilling with a center return hammer returned higher vanadium values over greater intercept lengths. Many of the historical holes were limited to a depth of roughly 100 meters. By drilling deeper, we have now discovered a second higher grade zone of flat lying vanadium mineralization, yielding some of the highest grade V2O5 intercepts to date. As illustrated in the east-west cross section (Figure 2), it now appears that the higher-grade zones of vanadium mineralization occur in relatively flat lying horizons within a much thicker blanket-like envelope of lower-grade vanadium mineralization. Looking at cross section A-A ', the higher-grade vanadium mineralization is clearly continuing westward with contiguous mineralization now documented across an east-west horizontal distance of 525m (1720 ft) and appears open to the north and south. Given the geometry and extent of vanadium mineralization observed in Victory's initial drilling, we are excited about the ultimate potential of the Iron Point vanadium system as we continue to step out in our drilling program. Due to recognition of the Upper and New High Grade Vanadium Zones coupled with the good lateral continuity seen between the drill holes, Victory has significantly increased its targeted resource envelope at Iron Point." | |
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