Victory Mines kicks off next step in cobalt-scandium hunt
Victory Mines (ASX:VIC) hasreceived an updated progress report from geology consultant, Xplore Resources, on its NSW assets, confirming that geochemical analysis is now underway.
Xplore has concluded the firstphase of the surface soil-sampling program, focused on pre-selected high-prioritytargets aligned with magnetic peaks.
Geochemical analysis follows thecompletion of field mapping and preliminary geological assessments for both projects, which arepositive for prospective cobalt-scandium mineralisation.
Over 140 surface soil samples(including 60 from the Husky project) have nowbeen dispatched to the laboratory to test for traces of cobalt-scandium-nickel mineralisationin the overlying soils, with follow-up sampling programs planned for bothtenures in several weeks.
Significantly, the geology teambelieves the magnetic anomalies within the Malamute project could be Alaskanstyle zoned ultramafic associated cobalt-scandium-nickel mineralisation, whichwas identified from reviewing legacy drilling results within the tenure.
Results from the soil samplescurrently being tested can be used to formulate the inaugural drilling programsacross both project areas.
Get the latest articles straight to your inboxkeep me postedPending the release of geochemistry results from the laboratory, which could takeseveral weeks, the geology team will now fast-track desktop work on the newlyacquired WA assets, Galah Well and Peperill Hill, for sulphide-hosted cobalt mineralisation.
VIC non-executive chairman, DrJames Ellingford, said: "The board is pleased that the fast-tracked explorationstrategy for the Husky and Malamute projects is now well ahead of schedule."
"Within a matter of weeks, the geologyteam should have sufficient data to determine an inaugural drilling campaignfor our NSW assets. While waiting for the soil-sample results, desktop work cannow commence on ascertaining the extent of cobalt mineralisation within theGalah Well and Peperill Hill projects in Western Australia," Ellingford said.
Of course,as with all minerals exploration, success is not guaranteed - consider your ownpersonal circumstances before investing, and seek professional financialadvice.
Field geologists at work
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