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Market:	ASX
Sector:	General Mining
EPIC:	VWM
Latest Price:	0.05 (3.85% )
52-week High:	0.16
52-week Low:	0.04
Market Cap:	9.03M

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Victory West Metals

Victory West Metals (ASX: VWM FRA: R1E) is building a resource portfolio in South East Asia with its cornerstone Malala Molybdenum Project in the Toli Toli Province in North Sulawesi and, subject to due diligence, the right to earn a 75% interest in a copper-gold porphyry project in South Sulawesi.

Victory West Moly discovers new molybdenum anomaly at Pt Promistis in Indonesia

Wednesday, November 18, 2009

Victory West Moly (ASX: VWM) has discovered a significant new molybdenum anomaly at the PT Promistis, just 10km from the company’s Anomaly B Molybdenum Prospect within the Malala Molybdenum Project area in Indonesia.

The company reported that multiple stream sediment samples have returned highly anomalous molybdenum values up to 97ppm Mo.

By comparison, reconnaissance exploration undertaken by Rio Tinto in the early 1970’s discovered the Anomaly B Prospect by following up a stream sediment sample of 8ppm Mo.

Victory West chief geologist Brett McKay said the Promistis anomaly was certainly a significant development for the Malala Project as it went a long way to confirming the company's belief that there are multiple molybdenum systems at Malala.

"We are particularly excited by the potential of Promistis and will be following up the stream sediment samples with the hope of making a new hard-rock discovery," Mr McKay said.

Preliminary rock chip samples returned up to 457ppm Mo.

Detailed follow up geological mapping and sampling is underway, with an additional geologist expected to be added later this month.

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