Iron Point Project

Exceptional Infrastructure

22 miles from Town of Winnemuca, where skilled mining personnel and suppliers are available.

Primary target area two kilometers north of Interstate 80.

High voltage transmission line runs through property.

Railroad line on northern property boundary.

Ample water supply in the area.

Source: Google Maps

Maiden Drilling

Above: Current Drilling at Iron Point
  • 73 hole, 8,400 meter - 3 rig program recently completed, outlining one of North America's largest vanadium footprints - 700 m x 1,200 m in size.
  • Vanadium mineralization starts from surface and extends to a depth of 175 meters.
  • Two flat lying high grade zones identified, with each zone averaging 40 meters in thickness.
  • Deposit generally open in all directions.
  • Assays are completed by American Assay Labs, Reno, NV.

Maiden Drill Results


Phase II Drilling

Drill map at Iron Point outlining the holes drilled during Phase I (in dark grey) and new holes being drilled in Phase II (in green and blue). Diamond drill holes are shown as squares, whereas the reverse circulation holes are shown as stars. Historical holes drilled by Newmont and Aur are represented by light grey diamonds and circles, respectively.

East - West Drilling

Cross section A-A’ (looking North) across Victory’s Stage 1 confirmation drill pattern showing grade
and distribution of vanadium mineralization in relation to the basic geologic framework.

North - South Drilling

Cross section B-B’ along Victory’s drill pattern showing grade and distribution of vanadium mineralization in relation to the basic geologic framework.

Preliminary Metallurgy

Test ID DOE-9 DOE-10 DOE-12 DOE-16
Factor 1
Temp., ⁰C
Hi Hi Hi Hi
Factor 2
Density, %
solids
Hi Lo Lo Lo
Factor 3
HF g/L
Hi Lo Hi Hi
Factor 4
H2SO4, g/L
Hi Hi Lo Hi
Leach Time,
hr
8 8 8 8
V Recovery,
%
90.6 89.0 92.8 94.3
H2SO4 Consumption
kg/mt
142 103 88 101

A Carlin Style Gold Deposit At Iron Point?

Iron Point is located at the intersection of the Battle Mountain and Getchell Gold Trends, and is on trend with several high-grade, world-class gold mines including Twin Creeks, Getchell/Turquoise Ridge, and Marigold.

Free Lottery Ticket At Iron Point

  • Iron Point has been the focus of considerable historic gold exploration by operators such as Newmont, Chevron Resources, Santa Fe, Kennecott, and Newcrest.
  • Recent fossil analysis has established that the Comus formation at Iron Point previously mapped as Upper Plate is definitively Lower Plate and correlatable with Roberts Mountain and Popovich formations, units highly prospective for large Carlin style deposits.
  • Drilling is planned to begin shortly with three initial drill holes planned to test the deep gold targets.
  • The potential presence of a gold deposit at Iron Point can provide considerable upside for shareholders with zero exploration risk for Victory.

Cross Section C - C’

Cross section C-C’ showing distribution of vanadium mineralization in relation to the current geologic interpretation.

Cross Section D - D’

Cross section D-D’ showing distribution of vanadium mineralization in relation to the current geologic interpretation.

Cross Section E - E’

Cross section E-E’ showing distribution of vanadium mineralization in relation to the current geologic interpretation.

Cross Section F - F’

Cross section F-F’ showing distribution of vanadium mineralization in relation to the current geologic interpretation.

Cross Section G - G’

Cross section G-G’ showing distribution of vanadium mineralization in relation to the current geologic interpretation.

Historical Exploration

  • Initially evaluated for vanadium by Newmont Mining in the 1960s.
  • In 1996, Aur Resources conducted a drill program, but also assaying for vanadium.
  • Historic drill results revealed a roughly circular mineralized zone approximately 1,000 meters in diameter.
  • In July 2018, Casino sampled a number of historical trenches that exposed mineralization over a 230m length. Casino's best trench returned 0.86% V2O5 over 29m of continuous cut, with individual 1.5m samples ranging from 0.31% to 1.51% V2O5.

Victory Metals - Ethos Gold Deep Drilling

EG-5: 1631’-1635’ Center of photo. Silicified-pyritized veining in strongly argillized/sericitized Plagioclase Porphyry intrusion near brecciated contact with silicified limestone. Irregular black bands are silica flooding containing black, very fine grained sulfides.

EG-5: 1631’– 1635’ Brecciated, strongly silicified limestone with dark silica-sulfide cementing the breccia. At the same intrusive contact as at DCN 3310

EG-5: 1631’-1635’ Dark silica-pyrite veins cutting strongly silicified, brecciated limestone.

EG-5: 1646’ Chalcedonic flooding in thin-bedded limestone near skarn contact. Dark material within light-colored chalcedony is very fine grained sulfides.

EG-5: 1660’ Contorted, thin-bedded carbonaceous limestone host rock with white calcite forming a network of veins and in-filling collapse breccia. This rock was first encountered at 1387’ and continues to the bottom of the hole.

EG-5: 1735’ Massive pyrite mineralization in brecciated, decalcified limestone at contact with Plagioclase Porphyry intrusion. Dark pyrite is cementing the breccia. Surrounding limestone is strongly silicified.

EG-5: 1738’-1740’ Strong decalcification and collapse breccia in strongly bleached, completely silicified thin-bedded limestone.

EG-5: 1747’ Dark gray, completely silicified thin-bedded limestone with white calcite in-filling collapse breccia. Decalcification textures form holes and pits in the core surface. Calcite forms fine networks of veinlets and also “ladder veins”, both types being common.

EG-5: 1797’ Silica-pyrite replacement along bedding planes in completely silicified thin-bedded limestone. Detailed view of brassy-colored pyrite.

EG-5: 1797’ Brassy-colored silica-pyrite replacement along bedding planes within dark gray, completely silicified thin-bedded limestone.

EG-5: 2083’-2087’ Gray, partially decalcified (sanded) muddy limestone beds intercalated with dark gray completely silicified limestone beds hosting network quartz-calcite micro veinlets (white color).

EG-5: 2123’ Dark gray completely silicified limestone beds with strong quartz-calcite micro veining next to gray non-silicified muddy limestone (on left). Photo illustrates importance of host rock composition in controlling fracture density and alteration.

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