Victory Metals Inc. ("TSX-V:VMX") ("Victory" or the "Company") is pleased to announce an additional seven reverse circulation ("RC") holes completed at its Iron Point Vanadium Project, located 22 miles east of Winnemucca, Nevada.
Image: Cross section B-B’ along Victory’s drill pattern showing grade and distribution of vanadium mineralization in relation to the basic geologic framework. Photo: courtesy of CNW Group/Victory Metals Inc.
Including these seven holes, Victory has now released results for 15 RC holes from a planned program of 69 RC holes and four diamond drill holes.
The seven holes reported today were drilled vertically along a north-south trending long section line that bisects the east-west trending cross section line A-A.
Highlights
RC drill results from the north-south long section B-B’ (see Figure 2) include:
21 meters grading 0.54% V2O5 (including 6 meters grading 0.67% V2O5) in VM-6
27 meters grading 0.56% V2O5 in VM-7 (previously reported)
23 meters grading 0.63% V2O5 (including 6 meters grading 0.88% V2O5) in VM-23
20 meters grading 0.54% V2O5 (including 9 meters grading 0.68% V2O5) in VM-26
18 meters grading 0.53% V2O5 (including 2 meters grading 1.14% V2O5) in VM-76
As with the initial holes, these latest intercepts are contained in two flat-lying higher grade vanadiferous horizons, referred to as the Upper and New High Grade Zones, which occur within a broader and extensive envelope of lower grade mineralization that starts at surface and extends down to a depth of at least 175 meters. New intercepts of this broader envelope include:
168 meters grading 0.21% V2O5 in hole VM-4 (from surface)
104 meters grading 0.24% V2O5 in hole VM-25 (from surface)
151 meters grading 0.21% V2O5 in hole VM-76 (from surface)
A review of these new drill results indicates that the flat lying Upper and New High Grade zones previously interpreted on an east-west cross section are also continuous in a north-south direction over a significant strike distance (580 meters N-S, and open). Note that hole VM-07 is common to both section A-A’ and section B-B’ and is helpful in tying these two sections together. The two completed and released drill sections (utilizing 15 RC drill holes) confirm the lateral and depth continuity of vanadium mineralization in the Upper and New High Grade Zones, as well as the extent of the lower grade vanadium mineralization envelope.
Collin Kettell, CEO of Victory, stated, “The first drill holes from our maiden drill program demonstrated continuity on an east-west trending section, over a distance of at least 525 meters. These new results have demonstrated that these interpreted higher-grade zones also continue for at least 580 meters along a north-south trend. This provides Victory with a well-defined, cohesive “core” zone of mineralization from which to expand outward with additional drilling. These results provide Victory with a strong platform from which to further expand mineralization.”
Drill Results
Assay results for intercepts released today are reported in % V2O5. Intercept lengths are deemed to be true thickness given the flat nature of the mineralized zones being tested by vertical holes. Intercept lengths are reported as an Overall Length, which includes all assay intervals within the vanadium blanket zone (at a 0.09% V2O5 minimum grade), and also as individual zone intercepts reported as aggregate lengths comprised of samples grading 0.25% V2O5 and greater.
Source: Company Press Release