Victory Mines commences drilling at Kenko tail deposits
Published 18-OCT-2017 09:00 A.M.
|
3 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. FinFeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Along with the Bolivian Mining Research Institute of the Mining, Oil and Geotechnics
Engineering team of the Oruro Technical University (UTO), VIC has established itself in the town of Llallagua and are working together at the Kenko mine site which is 3900 metres above sea level.
VIC is drilling through the entire depth of the holes that are spaced between 50 metres and 150 metres apart. The planned drilling program will enable management to quantify the grade and tonnage at each deposit and accurately predict metallurgical performance.
As it is early days here, investors should seek professional financial advice if considering this stock for their portfolio.
Approximately 70 drill cores have been extracted so far from the Kenko 1 and Kenko 2 drill holes, the locations of which are shown below.
Two additional drill holes for Kenko 1 and one more for Kenko 2 have recently been added to the program after taking into account the irregular shape of the deposit. Furthermore, the new tailings deposit that was identified recently has also been included in the drilling program under the name of Kenko 3.
At this stage, in-situ concentration tests show the presence of pyrite with traces of fine grain cassiterite being present in approximately half of the drill core samples to date.
The first batch of samples has already been sent to a certified chemical laboratory in Oruro, SpectroLab, for the analysis of tin with blanks and duplicate samples used for QC/QA.
Victory decides against drilling tail deposits at Huanuni
Management is pleased with the group’s progress in the current drilling campaign and it is confident that the results will provide the company with sufficient information for resource estimates to be undertaken for all drilled tails deposits. This paves the way for future development and the commencement of production for tin and silver, as well as other valuable metals in the near future.
VIC also announced that it had taken the decision not to drill the tails deposits of Huanuni (composed of Arenas Huanuni, River Huanuni Basin & Machacamarca) and Colas Japo. These sites are located further away from the company’s main prospective site and future location for its processing plant.
Putting this development into perspective, management said, “It is important to note that these sites only form a very small portion of the whole exploration target potential of the overall tin tails project and we believe our focus should really be on continued drilling and sampling at our prime deposits of Kenko, Arenas Catavi, Sink and Float and Rio Andavillque as these constitute approximately 90 per cent of the total exploration target.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
