Victory Metals Significantly Expands Vanadium Footprint at Iron Point and Confirms North-South Continuity of Mineralization


Date: Mar 7, 2019

VANCOUVER, March 6, 2019 /PRNewswire/ – 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. 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. 

Figure 1: Victory’s second stage confirmation RC drill holes shown by light blue stars, in relation to first release drilling (dark blue stars) and historical Newmont and Aur Resource (USA) Inc. drill holes. (CNW Group/Victory Metals Inc)
Figure 1: Victory’s second stage confirmation RC drill holes shown by light blue stars, in relation to first release drilling (dark blue stars) and historical Newmont and Aur Resource (USA) Inc. drill holes. (CNW Group/Victory Metals Inc)
Figure 2. Cross section B-B’ along Victory’s drill pattern showing grade and distribution of vanadium mineralization in relation to the basic geologic framework. (CNW Group/Victory Metals Inc)
Figure 2. Cross section B-B’ along Victory’s drill pattern showing grade and distribution of vanadium mineralization in relation to the basic geologic framework. (CNW Group/Victory Metals Inc)

The seven holes reported today were drilled vertically along a north-south trending long section line (see Figure 1, B-B’) that bisects the east-west trending cross section line A-A’ (see Figure 1), the results for which were previously released (see Victory’s February 28, 2019, news release).

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% V2Oin hole VM-4 (from surface)
    • 104 meters grading 0.24% V2Oin hole VM-25 (from surface)
    • 151 meters grading 0.21% V2Oin 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.  

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