Victory Mines identifies multiple mineralised structures

By Justin Ware. Published at Jul 27, 2018, in Small Caps

Victory Mines (ASX:VIC) has provided a highly encouraging overview of its progress at its two Western Australia projects.

Preliminary desktop study interpretation of Aeromagnetic imagery has highlighted multiple prospective primary mineralisation-bearing structures for cobalt, nickel and copper across the Galah Well and Peperill Hill projects.

VIC non-executive chairman Dr James Ellingford commented on the update, “The Board is delighted the desktop study confirms the two West Australian projects are highly prospective for cobalt, nickel and copper mineralisation.

“In due course, a team will be sent to site to follow on key target areas.”

The projects are in close proximity to where two (potentially three) differing mineralised systems intersect (as seen below). VIC notes that this phenomenon largely explains why both projects are highly prospective for cobalt, nickel and copper mineralisation hosted within sulphides and laterites.

North-south shear zone

As seen above, there is a north-south trending shear zone/magnetic anomaly that runs between Talisman Mining’s (ASX:TLM) Sinclair Nickel Mine and St George Mining’s (ASX:SGQ) Schmitz Well prospect.

VIC’s Peperill Hill prospect is believed to feature several north-south trending structures which are similar in nature to the one connecting TLM’s and SGQ’s ground.

These structures are prospective for cobalt mineralisation, with verified occurrences within the Peperill Hill tenement.

The company noted that historic air-core drilling results suggested near-surface ultramafic units with elevated cobalt mineralisation, which confirms the project’s lateritic cobalt potential.

It should be noted that this is an early stage company, so investors should seek professional financial advice for further information if considering this stock for their portfolio.

East-west mineral province

The Galah Well and Peperill Hill projects are located within the Murchison Province of the Yilgarn Craton – a geological province traditionally recognised as a greenstone mineral province, with north-south trending shears controlling mineralisation.

However, several east-west structures (Widgiemooltha dykes) that cut across the terrain are gaining increasing interest for their mineralisation potential.

These structures are prospective for cobalt, nickel and copper sulphide mineralisation, with a preliminary desktop study detailing historic intercepts across VIC’s, SGQ’s and TLM’s ground suggesting a significant yet to be confirmed polymetallic mineral province.

Via aeromagnetic imagery, Galah Well and Peperill Hill are believed to be intruded by these dykes, which span their entire circa 60km length and are located within the newly claimed mineral province.

Galah Well and Peperill Hill location

Secondary laterite potential

The Western Australian government mapping system has distinguished between the exposed and concealed dykes within the east-west trend.

VIC’s Galah Well project previously reported legacy assay results from an open borehole that featured 2m at 2,430ppm cobalt from the surface. The anomalous drillhole is located on a geophysical magnetic anomaly that trends approximately east-west across the project area.

The Widgiemooltha Ddykes were placed approximately 2,400-2,420Ma allowing sufficient time for the laterisation processes.

Because of this, the company believes the weathered near-surface features could present a lateritic profile that could open up free-dig mining operations.

In addition, the north-south trending shears that host the ultramafic lenses suggest lateritic potential within the region.

Most notably is the nearby Schmitz Well intercept, which had 2m at 7,290ppm cobalt from 34m, with the lithology recorded as saprolite.

Lateritic profiles are a key component of cobalt nickel from regolith, ultramafic bearing Greenstone belts within Western Australia.

Therefore, a potential economic lateritic development over the two mineralisations could be advantageous for VIC, leveraging early cashflow through low cost open-pit operations.

VIC concluded its update by reiterating that it will prioritise the finalisation of its inaugural drilling program at its NSW projects before progressing its WA assets.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!