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
- 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
Drilling at Iron Point has found two high grade zones, referred to as the Upper High Grade and New High Grade Zones, key intercepts include:
- 44 meters grading 0.48% V2O5 in VM-02.
- 20 meters grading 0.60% V2O5 in VM-09.
- 23 meters grading 0.63% V2O5 in VM-23.
- 37 meters grading 0.55% V2O5 in VM-26i.
High grade intercepts occur within a broad envelope of lower grade vanadium mineralization that extends from surface down to a depth of 175 meters, key intercepts include:
- 152 meters grading 0.23% V2O5 in VM-01.
- 175 meters grading 0.25% V2O5 in VM-02 (from surface).
- 174 meters grading 0.23% V2O5 in VM-67.
- 162 meters grading 0.22% V2O5 in VM-74.
Phase II Drilling
- In May 2019, Victory commenced its Phase II drill program, which will include 49 holes (10,000 meters). Two reverse circulation rigs and one diamond drill rig are on site.
- Mine Development Associates of Sparks, NV designed the program to infill zones of vanadium mineralization defined in Victory’s initial drill campaign, as well as to test lateral and downward extensions of these zones.
- 10 of the 49 targets are planned to be drilled as large diameter core holes to provide representative metallurgical samples of the vanadium mineralization.
A Carlin Style Gold Deposit At Iron Point?
- In May of 2019, Victory announced an option agreement with Ethos Gold (TSX-V:ECC), whereby Ethos can earn a 50% interest in the gold and silver rights at Iron Point by spending C$5M over three years.
- Dr. Quinton Hennigh is leading Ethos' drill program to test his theory on the presence of a deep Carlin style gold deposit.
- Since 1994, Dr. Hennigh has run multiple drill campaigns at Iron Point targeting shallow gold mineralization and after considerable review of the geological and geochemical data is convinced on the potential presence of a deeper Carlin style gold target.
- Victory receives special mining treatment in the agreement. Victory is given veto and priority over all precious metals mining rights that could in anyway interfere with the development of vanadium.
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.
- 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.