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