Victory Mines releases promising exploration results from Laverton project

By Trevor Hoey. Published at Jul 27, 2017, in Technology

Only days after releasing high grade zinc and lead assay results from its Bonaparte project, Victory Mines (ASX: VIC) has released encouraging results from an exploration program at its Laverton project located in Western Australia.

The company’s E 38/3075 tenement lies to the north of Laverton and only a short distance east of Leonora. Previous exploration conducted in 2013 within E38/2374 (in which E38/3075 is situated) defined several areas which were anomalous for gold, nickel and copper.

Most of these anomalous regions were aligned with geological structures which were defined from a low level of circa 25 metres, and with the subject of a close spaced (50 metres) combined aerial radiometric and magnetic survey. A total of 1,239 samples were collected from within E38/2374, with samples taken every 50 metres on lines spaced 400 metres apart.

VIC acquired E38/3075 early in 2017 and immediately planned an infill geochemical soil sampling programme to either infill the previously defined anomalous areas on a 200 x 25m pattern or to sample areas not previously tested.

A total of 810 samples were designed to be collected, but unsuitable weather conditions affected access to one area, limiting the number of samples to 758. These were sent to ALS Laboratories where they were fine ground so that 95% of the sample was less than 75 micron.

Various means of analysis were used to examine the samples, and the results were encouraging as they demonstrated that values in the top 5% were strongly anomalous, and values within the top 10% were viewed as moderately anomalous.

Of course it is early stage in the development of this project, so investors should seek professional financial advice if considering this stock for their portfolio.

The gold anomalies overlying the TMI (total magnetic intensity) magnetics can be seen below. The most northern anomaly is open along strike and across strike. The other 2 anomalous regions are up to 900 metres in length.

Laverton project copper anomaly

The nickel anomalies are also draped over the TMI magnetics. There is a large anomaly defined in the south of the tenement, which is approximately 1.25 kilometres in length and is situated along a prominent geological structure, while the nickel anomaly in the north is again coincident with the northerly extension of this structure.

The copper anomalies are shown below, with the largest anomaly being over the same geological structure which contains the nickel anomaly. The other copper anomalous regions are again aligned with or close to, other geological structures.

Second anomaly Laverton project

Management is preparing to conduct a geophysical ground electromagnetic survey which would potentially assist in the definition of suitable drill targets.

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 Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com 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.

Finfeed.com 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.

Finfeed.com 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!

X