Victory Metals initiates Phase II drill program at Iron Point Project

The program will include drilling 49 holes using one diamond drill rig and two reverse circulation (RC) rigs.

Vancouver-based Victory Metals Inc. has recently announced the launch of a 10,000-metre drilling program at its Iron Point Vanadium Project in Nevada with plans to define vanadium mineralization at the project. According to sources, the company said that the Phase II program will comprise of drilling 49 holes of around 10,000 meters using one diamond drill rig and two reverse circulation (RC) drill rigs.

It said that the program is designed to infill vanadium mineralization zones defined in the firm’s Phase I maiden drill campaign, as well as to test downward and lateral extensions of these zones. The program will also provide sample materials for the next phase of metallurgical test work, Victory added.

As per a statement, Colling Kettell, CEO, Victory Metals, said that their team’s rapid progress at Iron Point continues at full steam with the kick start of its Phase II drill program. He said that the company has completed over 18,000 meters of drilling in just nine months besides positive preliminary test work.

The Phase II program will provide representative samples from throughout the zones of mineralization, allowing the firm to widely define the metallurgical characteristics to support advancement of engineering work for economic studies, said Kettell.

Adding further, he said that results from the first eight holes have confirmed the extensive nature of vanadium mineralization across and along strike and have extended vanadium mineralization to a depth of 175 meters [575 feet] with the discovery of the New High Grade Zone.

For the record, vanadium is listed as a strategic metal in the U.S. which is used in the steel industry as a strengthening agent that enables creating lightweight, high temperature alloys. The material is used in Vanadium Redox Batteries which are being adopted rapidly across China to support clean power from renewable sources.

Supply constraints and increasing demand have also raised vanadium prices recently at above US$25 a pound. However, prices appear to have stabilized at around US$17.50 a pound.

Source Credit: https://www.prnewswire.com/news-releases/victory-metals-commences-phase-ii-10-000-meter-drill-program-at-its-iron-point-vanadium-project-nevada-300856893.html

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