Victory West Moly Limited (ASX:VWM) Quarterly Report For The Period Ending 30 September 2009
Perth, Nov 2, 2009 AEST (ABN Newswire) - Victory West Moly Limited (ASX:VWM) is pleased to provide shareholders with this Quarterly Activity Report for the three (3) months ending 30 September 2009. Activities continued to focus on Anomaly B within the Malala Molybdenum Project located in northern Sulawesi, Indonesia.
Project Activity Update
Anomaly B trenching
Earlier this year, VWM commenced a significant trenching programme at Anomaly B with the aim of providing further valuable geological data to assist in defining the size of the Anomaly B target area and planning future resource drilling programs. A total of 642 samples from 3,210 metres of trench line were collected during the three months to end September 2009. Each sample is a 5m continuous rock chip sample. The trenching is expected to be finished within the December 2009 quarter.
Assay results from samples collected along the new trenches are still being received, with a further shareholder update expected within the coming weeks once a larger batch of assays have been received and evaluated. Reports from the onsite geologists indicated fresh molybdenite, pyrite and chalcopyrite in fractures and veins has been reported at numerous locations within the trenches.
Assay results reported to date have defined the bedrock anomaly associated with the Anomaly B target area to be in excess of 800m long and 350m wide. The additional five trench lines (L750b, L850b, L950b, L1050b & L950c) are aiming to increase the strike length of Anomaly B to 2,000 metres.
In addition, several high priority targets in close proximity to Anomaly B will be the subject of fieldwork over the coming months. These additional areas have the potential to further expand the size of the Anomaly B target area. The Company continues to employ over 60 full-time personnel based out of Nancy Camp at Anomaly B.
Regional Reconnaissance Sampling Program
Regional reconnaissance sampling continued throughout the period on the Company's five concession areas, with a total of 26 stream sediment samples and 4 rock chip samples collected and submitted for assay during the three month period.
Assay results have been received for a number of samples collected from streams and drainages within the Inti Cemerlang permit. Numerous significant assays continue to be reported from a large area around the Anomaly B prospect.
The stream sediment sampling programme within all of the Company's permits will continue through the December 2009 quarter.
Induced Polarisation (IP) Survey
During the quarter, the Company initiated planning for a detailed 3D IP survey. The IP survey will be used to delineate zones where high concentrations of disseminated and veinlet sulphide minerals can be found. This information will then be combined with the trenching data to identify high quality targets for further drill testing.
The survey is being planned in two stages, with the initial stage to cover the main Anomaly B prospect area and stage two to cover a much larger area including the significant Mo-in-soil anomalies immediately adjacent to Anomaly B. The Company has received quotations from a number of reputable geophysical contractors who have experience in steep terrain, with a contract soon to be signed. The survey is expected to begin by the end of 2009.
For the complete Victory West Moly Quarterly Report for the period ending 30 September 2009, please click the link below:
http://www.abnnewswire.net/media/en/docs/61693-ASX-VWM-467525.pdf
Contact
Victory West Moly Limited
Luke Martino
Company Secretary
TEL: +61-8-9381-5819
FAX: +61-8-9388-3701
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