Victory Goldfields identifies nickel and REE bearing minerals in Stanmore Intrusion

Victory Goldfields (ASX:1VG) reports the discovery of an alkaline intrusive complex at the company’s bullseye magnetic anomaly at North Stanmore exploration licence.

Initial assays, with anomalous nickel, cobalt, and copper, have been received from one diamond drill hole designed to test the bullseye magnetic anomaly at its North Stanmore exploration licence.

Significant results from the latest assay batch includes Ni up to 1022ppm, Co up to 127ppm, and Cu up to 244ppm.

The significant bullseye magnetic anomaly is situated within the North Stanmore exploration licence E20/871, which is 100% owned by Victory and situated some 15km north from Cue township.

A reconnaissance petrological study is now completed.

ALS laboratory has been commissioned to complete priority assays for Rare Earth Elements and Platinum Group of Metals with results expected imminently.

Victory is awaiting assays from surface to 298m by fire assay testing for PGMs, as well as for assays from surface to 298m by fusion testing for REE and critical metals.

The company reports that it will now compile survey data including aerial magnetics and radiometric information and initiate a follow up exploration program.

“Victory is extremely encouraged to have these results from just one diamond hole”

Commenting on the discovery, Victory’s Executive Director Brendan Clark said: “Victory is extremely encouraged to have these results from just one diamond hole that was drilled in the centre of the bullseye magnetic anomaly.

The company considers the outlook from further exploration of being favourable considering the type of minerology that has already been intercepted.

With this latest discovery confirming that Victory has identified a previously unknown alkaline intrusion which are the engine rooms for formation of rare earth element mineral deposits, the Company is rapidly emerging as a multi commodity exploration Company.

Victory has strengthened its technical team with the appointment of one of Australia’s leading REE and Critical Metal experts, Emeritus Professor Kenneth Collerson, to ensure the Company is well equipped to manage the further exploration for this outstanding discovery.”

Victory has systematically built a portfolio of assets in the Cue goldfields, which is located in the mid-west region of Western Australia.

The company’s strategy is to undertake best practice exploration and development of the Victory tenements to identify Mineral Resources and Ore Reserves within its tenement land holding.

Leveraging its land holding position, Victory also aims to acquire additional gold opportunities within the Cue goldfields district, either through joint venture or tenement acquisition.

Images: Victory Goldfields Ltd
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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.