VIC 20.0% 0.3¢ victory mines limited

News: Victory Mines seeks to increase access to tin veins in Bolivia

  1. Victory Mines (ASX:VIC) is planning to regain access to the Luz Mila Adit to provide underground access to up to 31 known tin veins at its San Pedrito Project in Bolivia.

    Its wholly-owned subsidiary South American Tin Limited (SAT) has been in discussions with the Juan del Valle Cooperative on how the adit might be re-opened.

    SAT is now working with its partners on the strategy and exact timing to reopen the adit.

    It is considering a new portal approximately 120 metres to the north-east of the existing portal of the Luz Mila Adit.

    Driven in a northerly direction this new section of adit would need approximately 185 metres of development to access the existing Luz Mila Adit comfortably past the collapsed section.

    Once the adit is re-opened, it will need clearing of stockpiled mullock and then the 31 veins that are intersected by the adit will be mapped and correlated to the known veins higher up in the system

    The re-opened Luz Mila Adit could likely provide substantial material and add significantly to ore sources and enhance future production at the planned 150 tonne per day toll treatment plant at San Pedrito.

    Victory is focused on developing the toll treatment plant as a proof of concept. This will support its plans to potentially expand the plant and develop other nearby processing plants.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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