Victory Goldfields (ASX:1VG) has expanded its exploration footprint directly adjacent to the company’s recent REE discovery and the large alkaline igneous intrusion at North Stanmore after entering into a Tenement Sale Agreement for the acquisition of Tenement Application E20/1016.
The tenement application comprising of 11 blocks which borders the entire eastern boundary of Victory’s North Stanmore tenement E20/871.
The binding Agreement also includes a further three tenements situated north of Cue known as granted tenement E51/1939 and two tenement applications E51/2104 and E51/2102 that offer excellent potential for gold exploration.
This strategic acquisition enhances Victory’s tenure position surrounding its recent discovery of a rare alkaline igneous intrusion on the Company’s 100% owned North Stanmore tenement,” Executive Director, Brendan Clark, said.
“With alkaline intrusions being referred as engine rooms for Rare Earth Elements, there is potential that the Rare Earth Elements results the Company has reported approximately four km to the south of the intrusion could be consistent and radial around the intrusion”
“The company is also pleased to advise that the outstanding assays that cover an area approximately 800 metres North from the company’s recently reported Rare Earth Element discovery are due to be reported imminently.”
Victory has systematically built a portfolio of assets in the Cue goldfields. Cue is located in the mid-west region of Western Australia, 665 kilometres north-east from Perth.
The Cue goldfields are regarded as one of the most prestigious mining districts of Western Australia with a long and successful history of gold exploration and production.
The company’s strategy is to undertake best practice exploration and development of the Victory tenements to identify Mineral Resources and Ore Reserves within its tenement land holding.
Leveraging its land holding position, Victory also aims to acquire additional gold opportunities within the Cue goldfields district, either through joint venture or tenement acquisition.