Black Diablo Property Complements Existing Loner Property and on Same Belt as Nevada Sunrise Gold Corp's Coronada Property
Victory Resources Corporation (CSE:VR)(FSE:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company has recently staked the Black Diablo property in Nevada to complement the Company's interests in the Loner Property, which is in close proximity
"Victory geologists identified the Black Diablo opportunity when they were on the ground in Nevada preparing to drill the Loner property," said Mr. David Lane, Victory CEO. "We seized the opportunity to stake the claims in order to add Black Diablo to Victory's portfolio, leveraging our crew and infrastructure as the Loner property is poised for drilling to begin."
- Victory staked 16 claims south of Winnemucca and filed the work with the BLM (Bureau of Land Management).
- The claims are about 4 miles ENE of Victory's Loner Property.
- The Black Diablo Property is exploring for VMS (volcanogenic Massive sulphide) copper deposits in the same belt of rocks as Nevada Sunrise Gold Corp's Coronada VMS Project immediately to the south.
- The Big Mike Copper Mine is on the Coronada Property, about 10 miles south of the Black Diablo Property.
- The Big Mike Copper Mine produced about 25 million pounds of copper in 100,000 tons of ore grading 10.5% copper, which was shipped directly to a smelter in West Germany. Ranchers also carried out heap leaching on the lower-grade disseminated copper ore, treating about 300,000 tons of mineralised rock.
The close proximity of the Black Diablo to the Loner Property allows for cost effective evaluation of the Black Diablo while crews are in the area. The receipts confirming that the claims have been accepted are pending.
The Black Diablo Property hosts the Black Diablo Manganese Oxide Mine. Regarding manganese oxide deposits, the USGS notes that (in the Winnemucca, Nevada area) "permissive and favorable tracts coincide with those of the Cyprus massive sulphide deposits."1 The Mineral Resource Data System entry for the Black Diablo deposit reports a sample containing 10,000 ppm Cu. Franciscan type manganese oxide deposits commonly contain trace copper. As this is an anomalously high amount of Cu for a manganese oxide deposit, it may indicate the area is particularly prospective for Cyprus style VMS deposits such as the Big Mike.
Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory Geologist, and a "qualified person" under NI 43-101.
The Company also announced that it has engaged Dig Media Inc. dba Investing News Network (INN) for $49,300 to provide investor awareness services annually.
1 Metallic mineral resources in the U.S. Bureau of Land Management's Winnemucca District and Surprise Resource Area, northwest Nevada and northeast California, Open-File Report 96-712
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822
Toll Free: +1 (855) 665-GOLD (4653)
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (CSE:VR)(FSE:VR61)(OTC PINK:VRCFF) 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.
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 Corp.
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