Victory Mines is currently undertaking a 3,200 metre channel sampling programme as part of continuing efforts to develop the San Pedrito mine in the Potosi department, Bolivia. The programme is 40% complete with targeted grades of 1.2% Sn along with Zn and Ag by-products.
The project is being managed by Victory’s 100% owned subsidiary, South American Tin (SAT), which was acquired in late 2014. San Pedrito is one of a group of tin projects SAT were working on alongside local co-operatives, who have been granted mining licenses by the state mining company, Combibol. It has been identified as potential source of near-term cash flow and is being fast tracked through development accordingly. The other local tin projects include the Siglo XX hard rock mine and a number of tailings and placer deposits. A notable development is the acquisition of promising historical maps and data from Siglo XX indicating the presence of veins up to 2.5m thick containing 10% to 25% Sn.
Victory’s immediate focus is the construction of a 150 tonnes per day toll treatment plant that will initially process ore from existing stockpiles and small mining operations within the local co-operative. The operation has the potential to produce 300tpy of tin-in-concentrate plus silver, zinc and lead. The channel sampling programme is aimed at expanding the availability of near surface material that can provide a reliable source of plant feed. There is strong local support for development of mining operations in the area and Victory is considering short-term funding options to allow this to occur more rapidly.
