VICTORY


The Victory property is located 29km east of Eagle’s Nest, within a north-south trending belt of volcanic rocks known as the Victory Assemblage (figure 1). The property is interpreted to be the eastern continuation of the volcanic belt hosting the McFaulds South target (figure 1) where an extensive magnetic-gravity anomaly has been drilled in the past returning thick intersections of peridotite and pyroxenite.

Figure 1: Regional geology and location of the Victory property.

Figure 1: Regional geology and location of the Victory property.

The Victory target was identified in 2019 by Noront during its regional Ni targeting program and staked in early 2020. The main target on the property is a large magnetic anomaly measuring 3.2km long x 1.2km wide (figure 2) interpreted to be an intrusive or extrusive ultramafic body with potential to host nickel sulfides. The magnetic anomaly is comparable in size and strength to the magnetic response of the Black Thor Intrusive Complex. Several small circular magnetic anomalies to the west of the main anomaly are inferred to be ultramafic conduits or pipes (figure 2). Drilling of one of these anomalies by a previous diamond explorer confirms this interpretation.

Figure 2: Geology and TMI magnetics of the Victory property showing outlines of recent VTEM-plus survey anomalies and collar locations of past drilling.

Figure 2: Geology and TMI magnetics of the Victory property showing outlines of recent VTEM-plus survey anomalies and collar locations of past drilling.

Past work on the property focussed on VMS exploration in the hangingwall volcanic sequence to the east of the Victory target where numerous airborne EM anomalies have been identified and drilled, intersecting low-grade Cu-Zn mineralization associated with formational sulfides within a bi-modal sequence of volcanic flows and tuffs. The large magnetic anomaly at Victory has yet to be drilled.

If the magnetic anomaly indeed reflects an ultramafic body, its emplacement into sulfide-bearing volcanic rocks presents a compelling Ni target due to proximity to a sulfur contaminant source. As such, in 2020 Noront flew a VTEM-plus survey over the property with the goal of identifying bedrock conductors with potential to be Ni-sulfides. Results of the survey indicate several early to mid-time conductors associated with portions of the inferred ultramafic bodies, including a 500m long string of early to mid-time conductors along the northwest margin of the main magnetic anomaly (figure 2), and a 650m long string of mid-time conductors situated along the inferred southern ultramafic body (figure 2). Both anomalies maybe indicative of bedrock disseminated sulfide mineralization.

Magnetic inversion modelling of the main magnetic anomaly indicates an easterward dipping body with higher magnetic intensity beginning at 400-500m depth. Further work on the Victory property will entail ground EM surveying over the main anomaly to test for strong basement conductors at depth prior to drilling.

Figure 3: 3D magnetic inversion of the main anomaly displays an eastward dip with a higher magnetic intensity body beginning 400-500m depth.

Figure 3: 3D magnetic inversion of the main anomaly displays an eastward dip with a higher magnetic intensity body beginning 400-500m depth.

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