{"id":1175812,"date":"2020-04-02T15:36:28","date_gmt":"2020-04-02T21:36:28","guid":{"rendered":"https:\/\/resourceworld.com\/?p=57732"},"modified":"2020-04-02T15:36:28","modified_gmt":"2020-04-02T21:36:28","slug":"victory-metals-poised-for-vanadium-calculation","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1175812","title":{"rendered":"Victory Metals poised for vanadium calculation"},"content":{"rendered":"

Victory Metals Inc.<\/strong> [VMX-TSXV; VKMTF-OTC] on Thursday April 2 released another batch of drilling results from its Iron Point Vanadium Project near Winnemucca, Nevada and now says it will move ahead with a resource calculation.<\/p>\n

The company said the latest results are from the third and final set of drill holes from a 10,532-metre (52-hole) phase two program. It featured 27 holes that targeted the southern portion of the Iron Point mineralized vanadium zone.<\/p>\n

These vertical and angle holes were designed to better define the outer limits of mineralization and add definition to areas within last year\u2019s Phase 1 drill program where low hole density and\/or insufficient depth penetration hindered accurate correlation of mineralized zones.<\/p>\n

Highlights include 30.0 metres, grading 0.42% V2<\/sub>O5<\/sub> (including 4.9 metres grading 0.64% V2<\/sub>O5<\/sub>) in drill hole VM-106, and 61.0 metres grading 0.47% V2<\/sub>O5<\/sub> (including 10.7 metres grading 0.90% V2<\/sub>O5<\/sub>) in VM-1C.<\/p>\n

Victory owns 100% interest in the Iron Point Project and said it is well funded to advance the property towards resource estimation and a preliminary economic assessment. Iron Point is located about 30 km from the town of Winnemucca. A high voltage transmission line runs through the property. A railway line also runs across the northern boundary.<\/p>\n

Vanadium is listed as a strategic metal in the U.S. It is used in the steel industry as a strengthening agent, creating a lightweight, high temperature alloy. Vanadium is also a battery metal. Vanadium Redox Batteries are being adopted at a rapid rate in China to support clean, baseload power from renewable resources.<\/p>\n

\u201cPhase 11 drilling returned surprisingly high-grade results in the southern portion of our vanadium rich target area,\u201d said Victory Executive Chairman Paul Matysek. \u201cMost notable is a shallow and relatively uniform zone of vanadium mineralization that is a prime candidate for our initial development focus,\u201d he said.<\/p>\n

\u201cFurthermore, the increased drill density in the southern portion of the deposit has revealed larger and higher-grade zones of vanadium mineralization that were previously identified from Phase 1 drilling.\u201d<\/p>\n

In summary, the company said the Phase 11 drill program sought to close-off the lateral and vertical extent of mineralization. It instead confirmed that the deposit remains open in most directions and to depth. Victory Metals is now moving ahead with a resource calculation.<\/p>\n

The latest results come after Palisades Goldcorp Ltd., a private Vancouver company, recently took a 48% stake in Victory Metals by acquiring, by way of a private agreement, 43.8 million common shares of the junior in return for approximately 15 million shares of Palisades.<\/p>\n

Victory Metals shares were unchanged Thursday at 21 cents, a 52-week low. The shares are currently trading in a 52-week range of 76 cents and 18 cents.<\/p>\n

Back in February, 2019, Victory said it was pleased with results of a maiden drilling program featuring holes that were chosen to confirm the vanadium mineralization and grades reported in historical holes drilled by Newmont Goldcorp Corp.<\/strong> [NGT-TSX; NEM-NYSE] in 1966 and Aur Resources between 1996 and 1997.<\/p>\n

Newmont and Aur Resources were both drilling for gold, but intersected significant vanadium intervals at shallow depths.<\/p>\n","protected":false},"excerpt":{"rendered":"

Victory Metals Inc. [VMX-TSXV; VKMTF-OTC] on Thursday April 2 released another batch of drilling results…<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[622,410],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1175812"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1175812"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1175812\/revisions"}],"predecessor-version":[{"id":1175813,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1175812\/revisions\/1175813"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1175812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1175812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1175812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}