Victory Resources Corporation is pleased to announce that it has filed a "Notice of Operations" toward permitting for a 500m short hole drill program on the Company's recently optioned Loner Property in Nevada, schedule to begin in late January, permit depending"The first pass drilling program at Loner Property is intended to confirm intersections of gold-bearing quartz vein that correlates with historical ...

COMPANY PLANS 500m SHORT-HOLE DRILL PROGRAM TO BEGIN IN LATE JANUARY

Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that it has filed a "Notice of Operations" toward permitting for a 500m short hole drill program on the Company's recently optioned Loner Property in Nevada, schedule to begin in late January, permit depending

"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" stated Mr. David R. Deering, P.Eng., VP Exploration, and a Director of Victory Resources.

Highlights:

  • Victory has filed "Notice of Operations" toward permitting for commencement of drilling on Loner Property
  • First pass drilling program aims to confirm intersections of gold-bearing quartz vein with historical workings
  • Permit pending, Victory intends to begin 500m short-hole drill program in late January

As previously reported, the strong gold and arsenic geochemical anomalies are coincident with the exposed mineralization and historic workings. "This indicates that the drill program may define the anomalies more extensively through-out the target area" said Deering. "This first pass drilling work will evaluate the best and most productive way to continue bringing the project forward over the coming year"

Mr. 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:
https://www.accesswire.com/623220/Victory-Files-Notice-of-Operations-for-Loner-Property-in-Nevada

News Provided by ACCESSWIRE via QuoteMedia

Very High-grade Copper-Lead-Silver-Vanadium Intersections at Nosib

Very High-grade Copper-Lead-Silver-Vanadium Intersections at Nosib

Golden Deeps Limited (“Golden Deeps” or “Company”) is very pleased to announce very high-grade copper-lead-silver and vanadium intersections from the first diamond drillhole at the Nosib Block (“Nosib”) Prospect, located in the Otavi Mountain Land of northern Namibia (see location Figure 3).

Diamond drill hole, NSBDD001, intersected a thick, stratabound, conglomerate/arenite hosted zone of mineralisation from surface to approximately 46m downhole depth that included a strongly mineralised zone of oxide/supergene mineralisation from surface that produced the following very high-grade intersections (see cross section, Figure 1):

Keep reading... Show less

TRQ confirms approval of short-term increase in OT Underground Mine Development Budget

 Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") announced today that, in light of the progress made in the ongoing negotiations between the Government of Mongolia Rio Tinto and the Company, the Board of Directors of OT LLC (the "OT Board") approved a bridging budget of $75M to continue to progress critical activities in the Oyu Tolgoi ("OT") underground mine development project. The Company expects that the approved increase should be sufficient to sustain work on the development of the OT underground mine up to mid January 2022.

Keep reading... Show less
Nova Royalty Reports Audited Financial Results for the Three and Nine Months Ended September 30, 2021 and Provides Asset Update

Nova Royalty Reports Audited Financial Results for the Three and Nine Months Ended September 30, 2021 and Provides Asset Update

TSXV: NOVR
OTCQB: NOVRF

Keep reading... Show less
Benton Options High Grade VMS-Gold Project, Central Newfoundland

Benton Options High Grade VMS-Gold Project, Central Newfoundland

Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has, subject to approval by the TSX Venture Exchange (the "Exchange"), optioned the KM 67 Volcanic Massive Sulphide (VMS) base metal and gold project (the "Project") located in central Newfoundland from Kevin Keats, Alan Keats, and David MacDonald (the "Optionors"). The Optionors, who have advanced the Project, are a team of experienced prospectors and a geologist that possesses a track record of success in Newfoundland and eastern Canada.

The Company acquired the Project due to compelling data compiled by the Optionors that demonstrates prospective potential of VMS and gold presence on the Project. Historical work on the Project has identified large VMS boulders grading up to 37.8% lead-zinc as well as others that assayed 13.56% copper-lead-zinc (Cu-Pb-Zn) and 8.76% Cu-Pb-Zn. In addition, quartz boulders grading up to 7.1gpt gold and historical soil sampling showing geochemistry highs of 1870parts per billion (ppb) 1421ppb, 1360ppb, 300ppb and 279ppb gold. The Company believes this represents a great addition to its project portfolio and will immediately apply for exploration work permits including a detailed Airborne Electromagnetic (AEM) and Magnetic survey to be followed by prospecting, mapping and diamond drilling.

Keep reading... Show less

Additional Results from the 2021 Drill Program at the Arctic Project; Includes Third Best Drill Hole Intersection at Arctic

Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy" or the "Company") is pleased to announce the second set of drilling results from the 2021 summer field season at the Arctic Project, part of the Upper Kobuk Mineral Projects ("UKMP") located in northwestern Alaska managed by Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) ("South32").

The 2021 Arctic drill program included 4,131 meters of diamond drilling, comprising 18 holes, that were designed to convert a portion of the resources from the Indicated category to the Measured category, and provide material for metallurgical testing and geotechnical information. The results contained in this news release are from the first two infill holes that were drilled early in the 2021 field season.

Keep reading... Show less
Western Copper and Gold Intersects 2.53% CuEq Over 65.8 m and 1.01% CuEq Over 289.6 m at Casino

Western Copper and Gold Intersects 2.53% CuEq Over 65.8 m and 1.01% CuEq Over 289.6 m at Casino

Western Copper and Gold Corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce assay results from the initial nine holes of the 2021 diamond drilling program at its wholly-owned Casino Project in the Yukon Territory, Canada . The program, developed with input from Rio Tinto, comprised a total of 6,074.97 metres in 22 holes.

Highlights

Keep reading... Show less

Top News

Related News