Victory Resources has acquired the Black Diablo property in the US state of Nevada, which is located close to the company’s existing interests in the Loner property.
Comprising Black Diablo Manganese Oxide Mine, the Black Diablo Property is said to host the volcanogenic massive sulphide (VMS) copper deposits in the belt of rocks.
The belt of rocks also hosts Nevada Sunrise Gold’s Coronada VMS Project.
Victory CEO David Lane said: “Victory geologists identified the Black Diablo opportunity when they were on the ground in Nevada preparing to drill the Loner property.
“We seized the opportunity to stake the claims in order to add Black Diablo to Victory’s portfolio, leveraging our crew and infrastructure as the Loner property is poised for drilling to begin.”
The firm said that the Black Diablo’s proximity to the Loner Property allows for cost effective assessment of the property.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The Black Diablo Property is situated about 10 miles south of Nevada Sunrise’s past-producing Big Mike Copper Mine on the Coronada Property.
Production from the Big Mike copper mine was shipped directly to a smelter in West Germany. It produced about 25 million pounds of copper in 100,000 tonnes of ore grading 10.5% copper.
In a press statement, Victory Resources said: “The Mineral Resource Data System entry for the Black Diablo deposit reports a sample containing 10,000ppm copper. Franciscan type manganese oxide deposits commonly contain trace copper.
“As this is an anomalously high amount of copper for a manganese oxide deposit, it may indicate the area is particularly prospective for Cyprus style VMS deposits such as the Big Mike.”