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Victory Mines Ltd.
Summary
| Project: | Malamute | |
|---|---|---|
| Deposit: | Malamute | |
| Location: | Australia | |
| Commodities: | Aluminium-Cobalt-Scandium | |
| Date: | 12/2/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-12-2019: Victory Mines Ltd. announces an Exploration/Drilling Update report for its Malamute deposit at the Malamute project. Drilling results incl. 21m @ 11.7% Al from 14m. Victory Mines Limited (ASX: VIC) (“Victory” or “the Company”) is pleased to ann | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nicholas Ryan (Xplore Resources Pty Ltd.) | |
| ABSTRACT: | Victory Mines Limited (ASX: VIC) (“Victory” or “the Company”) is pleased to announce the Malamute Project drilling campaign has been successfully completed on time and within budget. Moreover, the assay results, which have been returned from the certified testing laboratory, deliver significant exploration upside for the Malamute Project and critical insight on the course of future exploration. The recent drilling campaign, completed by exploration consultants, Xplore Resources, consisted of 40 air-core drillholes over 2,088m, with the total depth ranging from 2m to 88m. The air-core drilling continued to refusal in all drillholes, with the exception of the deepest as moist saprolite made continuing unfeasible. In rare instances, drillholes had a shallow termination depth due to the nature of the aircore drilling and intersection of extremely competent rock units. As such, these targets remain under-explored given the anticipated depth of the mineralisation, associated with the 11km by 8km elliptical Minemoorong magnetic anomaly that is within the Malamute tenure. The air-core drillholes intersected significant vertical lateritic material overlying ultramafic and/or mafic units. Samples were collected from the mineralised drillholes and assayed at 1m intervals: four air-core drillholes have been tested to date. | |
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