Victory's corporate objectives include:
- Focussed exploration;
- Conduct exploration using a high standard of exploration methods; and
- Add shareholder value through the advancement of projects
DECEMBER 2017 PROJECT UPDATES
Victory Mines secured the rights to 8 tin tailings deposits in Bolivia. In an ASX Announcement dated 16th August 2017, the full details of the project were announced. The reader should review this announcement.
Victory was granted permission by the Bolivian state mining company, Corporacion Minera de Bolivia to commence a feasibility study on a number of its existing tailing sites plus four new additional sites identified by the Victory board and Victory’s Bolivian Country Manager, Mr Alberto Galvez. During the feasibility study, Victory compiled a significant amount of data on the tailing sites.
Following the initial exploration work conducted by the Company, the Boarddetermined that it was a non-core asset and has entered discussions with third-parties that may purchase the Company’s data on the tailing sites.
General Location of the Tailings Projects Centred on LLallagua and Huanuni
The Bonaparte Project is highly prospective for lead (Pb), zinc (Zn), silver (Ag) and copper (Cu). (see Fig 3)
Recent (2017) rock chip sampling has defined several areas for immediate follow-up exploration, and work from previous explorers has defined structural features defined from an EM survey completed in 2010. A ground gravity survey will cover approximately 100 sq km over areas considered to be the most prospective including the Redbank and Martins Gossan, as well as areas where high rock chip values have been encountered. The most recent rock chip sample (Copper Gossan discovery – Nov 2017) returned a grade of 15.95% Cu (see Fig 2)
The Laverton Project is located approximately 20km NE of Laverton in WA. The tenement is considered prospective for gold, copper and nickel. Previous explorers had conducted a low level combined magnetic and radiometric survey and surface geochemical studies covering structural trends (which were identified from the magnetic survey). Since acquiring the tenement, Victory has conducted additional surface geochemical studies to either extend, or infill the areas previously sampled.
The results of all of this work defined 3 areas (totalling 5.2km2) worthy of further investigation, and these three areas were the subject of a ground EM survey which was completed in August 2017. Some areas of mild conductivity were defined by this work.
The Company is planning further exploration during the 3rd quarter of 2018.
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