Drill Operations Set to Initiate Loner Property in Nevada

Crew and Equipment Mobilized for 500m Short-Hole Drill Program

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company is set to initiate its recently permitted 500m short hole drill program on the Loner Property in Nevada

Victory Resources is currently mobilizing its crew and equipment to the Loner Property to begin a 500m drill program. The geologist will be on site spotting holes and surveying sections beginning March 10th. It is expected the drill will be readied for drilling on the property the week of March 15th. Barring weather related delays, the drilling should be completed around mid-April.

The first pass drilling program at Loner Property is intended to confirm intersections of gold-bearing quartz vein that correlates with historical underground mining and mapped surficial gold occurrences. It is anticipated the drill program will demonstrate broader mineralization across the width and depth of the occurrence which remains open in all directions.

Mr. David Deering is the Qualified Person for the Company's projects as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.

About the Loner Property:

The Loner Property is located 35 km south of Winnemucca in the southern Sonoma Range and currently consists of 16 Federal Lode Claims covering historic workings and exposed low-sulphidation gold mineralization. Recent exploration in the area includes the Goldbanks Project, an epithermal gold project about 12 miles to the south, and the Coronado VMS Project, which has been exploring for Cu on a property about 6 miles to the southeast of the Loner Property. The area of the Loner Property is prospective for both these styles of mineralization. Victory Resources has optioned the Loner Property from Silver Range Resources (TSX-V: SNG) ("Silver Range") as announced on 23 December 2020.

The Company also announced that 492,000 options have been recently cancelled with the consent of the holders, as they were no longer serving their purpose in aligning the interest of the holders with those of shareholders.

For further information, please contact:

David Lane, President
Telephone: +1 (236) 317 2822
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corporation

View source version on accesswire.com:

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Person in safety equipment holds wooden blocks with cobalt mine symbols and the word "cobalt" above.

5 Largest Cobalt Mines in the World (Updated 2024)

Interest in cobalt has increased in recent years due to its use in the lithium-ion batteries used to power electric cars.

Global cobalt mine production reached a record high of 230,000 metric tons (MT) in 2023, according to the US Geological Survey (USGS), with the help of increased output from the Democratic Republic of Congo (DRC) and Indonesia.

The DRC is the world’s largest producer of cobalt by far, with its output reaching 170,000 MT last year — almost 74 percent of global supply. For comparison, the second largest cobalt producer Indonesia put out 17,000 MT of the battery metal.

Keep reading...Show less

SC2 Inc. Announces Offer to Purchase Common Shares of Sherritt International Corporation


SC2 Inc. (" SC2 ") is pleased to announce an offer (the " Offer ") to purchase up to 21,621,621 common shares of Sherritt International Corporation (TSX: S) (" Sherritt ") at a price of $0.37 per common share (the " Purchase Price "), payable in cash.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Sherritt Provides Notice of First Quarter 2024 Results Conference Call


Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) will release its first quarter 2024 results after market close on May 8, 2024. Senior management will host a conference call and webcast on May 9, 2024 at 10:00 am ET to review Sherritt's first quarter 2024 financial and operational performance.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Sherritt Announces Changes to its Board of Directors


Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) is pleased to announce the appointments of Louise Blais and Steven H. Goldman to its Board of Directors effective immediately. The appointments of Ms. Blais and Mr. Goldman are in accordance with Sherritt's Board succession planning with the retirements of Maryse Belanger and John Warwick, both of whom are not seeking re-election at the Corporation's 2024 Annual General Meeting ("AGM"). Ms. Belanger will be retiring from the Board as of today and Mr. Warwick will be retiring from the Board at the AGM on May 9, 2024.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
International Cobalt Announces $5.3M Debt Settlement

International Cobalt Announces $5.3M Debt Settlement

International Cobalt Corp. (" International Cobalt " or the " Company ") advises that it has entered into a settlement agreement dated February 28, 2024, with Tantalex Lithium Resources Corp. (" Tantalex ") to settle an amount of CDN$5,324,275.30 owed to the Company (the " Settlement Agreement "). The Settlement Agreement stems from multiple unsecured convertible debentures in principal amounts of USD$2,100,000 and CDN$800,000 entered into between the parties in 2018 and in 2020 bearing an interest rate of 4% that became due in November of 2022 (the " Debt ").

Under the terms of the Settlement Agreement, the Debt was settled with an aggregate 106,485,506 common shares in the capital of Tantalex (the " Tantalex Shares ") issued at a price of CDN$0.05 per Tantalex Share and 50,000,000 common share purchase warrants (the " Tantalex Warrants "). Each Tantalex Warrant is exercisable by the Company to acquire 50,000,000 Tantalex Shares at a price of $0.10 for a period of thirty (30) months from issuance (the " Debt Settlement ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Receives Court Approval for Edison Cobalt Spin-Out

Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that on March 1, 2024, the Supreme Court of British Columbia issued its final order approving the Company's previously announced plan of arrangement (the "Arrangement") involving its wholly-owned subsidiary, Edison Cobalt Corp. ("Edison Cobalt"). For details regarding the Arrangement, see the news releases of the Company dated March 28, 2023, July 13, 2023, November 28, 2023, December 7, 2023, February 1, 2024 and February 27, 2024.

The Company will announce the share distribution record date and the exact number of Edison Cobalt shares issuable at a later date. The Arrangement remains subject to final acceptance by the TSX Venture Exchange ("TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
{{ sections }}

Latest Press Releases

Related News