C-IP-1 averaged 0.86% V2O5 over 29m.
Iron Point Project
22 miles from Town of Winnemuca, where skilled mining personnel and suppliers are available.
Primary target area a few kilometers north of Interstate 80.
High voltage transmission line runs through property.
Railroad line on northern property boundary.
Source: Google Maps
- Initially evaluated for vanadium by the Standard Slag Company and Newmont Mining in the 1960s.
- In 1996, Aur Resources conducted a drill program, exploring for gold, but also assaying for vanadium. Drill results revealed a roughly circular mineralized zone approximately 1,000 meters in diameter that generally coincides with Newmont’s prior drill targets. Vanadium values extend from near surface down to depths of 200 meters.
- Aur Resources’ drill core and pulps have been preserved and were re-analyzed by Casino Gold in August 2018 using a more rigorous sample digestion procedure that verified Aur’s original assay results but also indicated that the Aur assay work underestimated the vanadium grades.
- In July 2018, Casino sampled a number of historical trenches that exposed mineralization over a 230m length. Casino's best trench line returned 0.86% V2O5 over 29m of continuous cut, with individual 1.5m samples ranging from 0.31% to 1.51% V2O5.
The Key Is The Vinini Formation
- Vanadium mineralization is hosted by the Vinini Formation, which is exposed on the property over a strike length of 4,500m and average width of 700m. Potential exists for substantially expanding upon the area of mineralization tested by Newmont and Aur Resources.
The Vinini Formation can be described as:
- Ordovician-age black shale and chert unit enriched in vanadium and other metals.
- Part of deep ocean sequence that was thrust eastward over top of shelf carbonates along the Roberts Mountain Thrust.
Vanadium Values (>0.6%) In Recent Trenching
Shallow Mineralization, Potentially Amenable To Open Pit Mining
- 73 hole, 8,400 meter - 3 rig program drilling program underway to define vanadium resources.
- Large vanadium footprint – open to expansion.
- Shallow mineralization with favorable topography, amenable to open pit mining.
- Current drilling program is following trend of higher grade mineralization exposed in historical trenches.
- Assays are pending with American Assay Labs, Reno, NV.
Iron Point's easy access, shallow mineralization, and historic sampling and drilling mean Victory Metals can advance the project through to development quickly.