Victory Resources Corporation has identified several significant anomalies, including the highest priority target from its extensive and recently completed IP survey on its Mal-Wen project in British Columbia.
The Vancouver, British Columbia-based company said the 41.6-kilometer (km) IP survey, completed in December over the area of the Mal and Wen prospects has outlined several significant chargeability anomalies. The exploration target is alkalic copper-gold porphyry style mineralization, said the company.
Victory said that the northern anomaly (the Mal East anomaly) is the “highest priority target.” It features a coincident chargeability and resistivity high covering an area in excess of 500 meter (m) by 500m in an area with little outcrop. The nature of the anomaly is similar to that associated with the Mal Prospect, approximately 500m to the west, but considerably larger and stronger.
READ: Victory Resources identifies two 'significant' anomalies from IP survey at Mal-Wen
The company noted that to the south, in the area of the Wen prospect, are a pair of chargeability anomalies. The southernmost anomaly appears to be related to the mudstones mapped in that area. However, the chargeability high to the west of the Wen Prospect, referred to as the Wen West anomaly, is in an area of no outcrop and has a similar chargeability/resistivity response as the Wen Zone mineralization, though considerably larger and stronger.
The company said that none of these anomalies have been drill tested. An inversion will be performed on the data to provide more accurate drill targeting, it added. An application to drill has been submitted and it is expected a permit will be granted by the spring.
"In light of earlier work by Victory, which determined that the Mal and Wen Prospects are essentially similar copper-gold bearing zones that appear to be structurally linked, the Mal East IP anomaly is an excellent drill target in an area with little outcrop and no previous drilling,” Victory Resources CEO Mark Ireton said in a statement.
“Similarly, the large chargeability anomaly west of the Wen Prospect is also in an area of sparse outcrop and has never been drill tested," he added.
The Mal-Wen Property consists of seven mineral claims with a total area of 1,205.97 hectares located about 30 km southeast of Merritt in south-central British Columbia. The Mal-Wen property hosts numerous alkalic porphyry deposits, including the presently producing New Afton Mine and past producers Ajax and Copper Mountain. The Mal and Wen Prospects may be peripheral expressions of a larger mineralized system.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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