It is used in the steel industry as a strengthening agent, creating a lightweight, high temperature alloy. Vanadium is listed as a strategic metal in the U.S. A railway line also runs across the northern boundary. A high voltage transmission line runs through the property. Iron Point is located about 30 km from the town of Winnemucca.
Victory owns 100% interest in the Iron Point Project and said it is well funded to advance the property towards resource estimation and a preliminary economic assessment. That compares to a one-year high of 77 cents. Victory Metals shares were unchanged Wednesday at 38 cents, a 52-week low.
Palisades says it has emerged as a key Victory shareholder by acquiring, by way of a private agreement, 43.8 million common shares of the junior in return for approximately 15 million shares of Palisades. , a company that is working to advance the its Iron Point Vanadium Project near Winnemucca, Nevada. Palisades Goldcorp Ltd., a private Vancouver company, has taken a 48% stake in Victory Metals Inc.
