Victory Mines zeroes in on acquisition
Published 24-NOV-2017 15:58 P.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 today informed the market that it will expedite its previously outlined due diligence process for the proposed acquisition of four highly-prospective cobalt and scandium projects in NSW and WA.
VIC will move quickly on the NSW assets – Husky and Malamute – with plans already underway to send a geology team to commence a high-level exploration strategy. The team’s focus will be identifying cobalt and scandium mineralisation across the two tenements.
The proposed strategy, which is now being reviewed by the company’s board, contains six components:
– Peer Asset review
– Desktop study
– Review of physical bore-core/samples held in government facilities
– Fieldwork (non-drilling)
– Pre-drilling and geophysical survey
– Drill target identification and program planning
The Husky tenement straddles Australian Mines (ASX:AUZ) tenure, and is within 5km of Clean TeQ’s (ASX:CLQ) Sunrise nickel/cobalt/scandium project.
The Malamute tenement is of particular interest, with past survey work indicating a substantial area of lateritic mineralisation that may equal or exceed the area of both AUZ and CLQ’s deposits. VIC plans to undertake further desktop and field work to determine the full extent of prospective mineralisation at this location.
Of course, as with all minerals exploration, success is not guaranteed – consider your own personal circumstances before investing, and seek professional financial advice.
The company has indicated that once the NSW tenement review is completed, the geology team will then focus on the WA project areas with prospective nickel-copper mineralisation at Galah Well and Peperill Hill.
Interest in the WA tenements has increased post-St George Mining (ASX:SGQ) announcing it had found outstanding, shallow depth, nickel-copper mineralisation at Mt Alexander, which is directly south of Galah Well.
Historical descriptions of the sparsely drilled nickel-copper sulphide mineralisation and the geophysical aeromagnetic anomalies at Galah Well appear to be similar to the announced SGQ mineralisation, which returned average XRF readings of 5.5% nickel and 2.1% copper.
The above mineralisation has been attributed to a SANSOM EM anomaly which is open to the north and west, which may potentially trend into Galah Well’s project area.
If feasible, the board will expedite the previous due diligence timeline given on 14 November 2017.
Shareholders will be advised of progress appointing the geology team, and any additional changes in due course.
General Information Only
This material has been prepared by StocksDigital. StocksDigital is an authorised representative (CAR 000433913) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
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.
