Positive update from VIC as exploration continues in Bolivia
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Victory Mines (ASX:VIC) this morning updated the market with regards to its ongoing exploration activities at its string of tin prospects in Bolivia, located near the town of Llallagua.
VIC has completed 321 metres of drilling at the Arenas Catavi, Kenko and Rio Andavillque tin tail sites with a peak reading of 0.42 per cent tin obtained.
Leading the highlights in this particular round of drilling was Kenko 1. Kenko 1 shows the presence of detritus from igneous rock and other minerals such as quartz, pyrite, sericite, hematite and limonite. It also contains sulphide ore with the existence of small sections in transition to oxides with a reported weighted grade of 0.42 per cent tin.
It should be noted that VIC is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.
Particle site distribution for Kenko has been recorded as being between 150 and 240 micrometers for the majority of the deposit. Helping VIC achieve economic viability in Bolivia, Kenko ore will be processed without a comminution circuit, thereby decreasing the capital and operation costs significantly.
Assays from Kenko 1 are also positive at this stage. Tin has been analysed by a certified chemical laboratory in Oruro, SpectroLab (acid digestion, followed by wet chemistry titration) with VIC currently waiting for the particle size analysis and tin-by-size analysis for the majority of the drilled samples. It will release these results to market once they are received.
Within the coming week VIC expects to begin drilling its largest deposit, dubbed the ‘Sink and Float’.
Coordination and planning has begun with German company TOMRA to pre-concentrate coarse tails from ‘VIC’s ‘Sink and Float’ deposit. Recoveries above 90 per cent have been reported in a commercial tin processing plant.
TOMRA will carry out ore tests on ‘Sink and Float’ using X-ray technology to separate the cassiterite (tin mineral) from the gangue ore, without using water — a key cost-saving improvement on older techniques.
Moving forward, VIC is looking to obtain the relevant technical data to enable a comprehensive evaluation of the tails deposits and future processing techniques required in Bolivia. Ongoing work is likely to keep its news flow at a high volume over the coming months.
Once the drilling and sampling program is completed, comprehensive metallurgical testing will be carried out to determine the most viable extraction method for eventual mining.
VIC says it will continue to provide chemical and mineralogical assays as they are received, and is likely to undertake a preliminary assessment regarding feasibility in the near term.