Next Investors logo grey

Victory Mines kicks off next step in cobalt-scandium hunt

Published 09-APR-2018 11:00 A.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Victory Mines (ASX:VIC) has received an updated progress report from geology consultant, Xplore Resources, on its NSW assets, confirming that geochemical analysis is now underway.

Xplore has concluded the first phase of the surface soil-sampling program, focused on pre-selected high-priority targets aligned with magnetic peaks.

Geochemical analysis follows the completion of field mapping and preliminary geological assessments for both projects, which are positive for prospective cobalt-scandium mineralisation.

Over 140 surface soil samples (including 60 from the Husky project) have now been dispatched to the laboratory to test for traces of cobalt-scandium-nickel mineralisation in the overlying soils, with follow-up sampling programs planned for both tenures in several weeks.

Significantly, the geology team believes the magnetic anomalies within the Malamute project could be Alaskan style zoned ultramafic associated cobalt-scandium-nickel mineralisation, which was identified from reviewing legacy drilling results within the tenure.

Results from the soil samples currently being tested can be used to formulate the inaugural drilling programs across both project areas.

Pending the release of geochemistry results from the laboratory, which could take several weeks, the geology team will now fast-track desktop work on the newly acquired WA assets, Galah Well and Peperill Hill, for sulphide-hosted cobalt mineralisation.

VIC non-executive chairman, Dr James Ellingford, said: “The board is pleased that the fast-tracked exploration strategy for the Husky and Malamute projects is now well ahead of schedule.”

“Within a matter of weeks, the geology team should have sufficient data to determine an inaugural drilling campaign for our NSW assets. While waiting for the soil-sample results, desktop work can now commence on ascertaining the extent of cobalt mineralisation within the Galah Well and Peperill Hill projects in Western Australia,” Ellingford said.

Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.

Field geologists at work

Field geologists at work

tags

COBALT


General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.