Release: Victory West Molybdenum Ltd: Project update and highlights from February 2009
Wednesday, March 11 2009 - 07:02 AM WIB
More high-grade molybdenum intersections from Anomaly B, the Malala project, Indonesia
10 March 2009 - Victory West Molybdenum Limited (ASX: VWM) (previously known as Richfield Group Limited - RCH) wishes to update its shareholders on recent activities on the Malala Molybdenum Project in Sulawesi, Indonesia.
Highlights
? 24m @ 0.07% Mo and 14m @ 0.14% Mo & 0.12% Cu in M43
? 51m @ 0.05% Mo in M44
? Assay results from the final hole of the Phase 1 drilling programme awaited
? Detailed contour trenching programme now in progress
? The regional reconnaissance mapping and geochemical sampling programme continued through the month of January 2009 on the PT Sembilan Sumber Mas KP?s, PT Promistis KP?s and PT Indo Surya KP?s. A total of 87 stream sediment and 3 rock samples were collected during this month and submitted for assay.
? The Phase 1 drilling programme at Anomaly B has now been completed, with the final hole, M47, completed to 73.4m. Metres drilled by VWM in Phase 1 totalled 2,126.0m, with drill hole details shown on Table 1. Final assays should be received in the coming weeks.
? Results from the Phase 1 drilling programme received to date have been very encouraging, with multiple, wide, high-grade molybdenum intersections being returned. Whilst further input into the geological model is required, it appears the ?structurally-controlled‟ model for mineralisation at Anomaly B is proving correct.
Current exploration programme
A trenching programme is currently being carried out which will provide further valuable geological data to assess and enable project efficiencies and build geological understanding.
The trenching programme will consist of cutting 3 metre wide contour trails on 50 metre elevation contours from 750m RL (just above Nancy Camp) to 1050m RL (just below the top of Gunung Nancy) as shown on Figures 4 and 5. Five (5) metre composite samples of exposed bedrock will be sampled and submitted for multi-element assaying. The trenching programme is designed to give a better understanding of the rock type, alteration, structure, geochemistry and controls to mineralisation. Improved understanding of these variables will allow the design and implementation of more effective and efficient drill programmes. The contour tracks will allow construction of suitably located drill pads and facilitate the movement of man portable drilling during future drilling programmes. (end of excerpt)