Victory Acquires 100% Interest in Saguenay Nickel Project

Victory Acquires 100% Interest in Saguenay Nickel Project

  • Property consists of 5 claims totalling 286.32 ha, approximately 10 km south of Saguenay, Quebec
  • Presence of ore grade Nickel - Copper samples at surface and in drill core
  • Historic grab sample returned up to 3.41% Ni, 1.14% Cu, 1.2 ppm Ag and 0.13% Co

Victory Resources Corporation (CSE:VR) (FWB:VR61) (OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's has acquired 100% interest in the Saguenay Nickel Project in Quebec, a property with historic Nickel and Copper grab sample and drilling results

"We are excited to add this property to the Victory portfolio, noting that our team has analyzed the historical grab sample and drill results, along with the overall Saguenay Gneiss Complex, and are very encouraged about the prospects for this acquisition," said Mr. Mark Ireton, Victory Resources President and CEO.

The claims are located approximately 10 km to the south of the town of Saguenay. The property is made up of 5 claims totalling 286.32 ha. It is underlain by mafic to ultramafic rocks enclosed in the Saguenay gneissic complex. A historic grab sample returned up to 3.41% Ni, 1.14% Cu, 1.2 ppm Ag and 0.13% Co. In 1959, 4 out of 7 holes drilled, on Victory Resources ground intersected gabbroic and peridotite rocks, hole number 4 returned 4 feet of 1.06% Nickel, and 0.21% copper, hole # 3intersected 10 feet averaging 0.49% Nickel and 0.03% copper, hole # 2 intersected 13 feet averaging 0.22% Nickel and 0.04% copper, and a fourth hole, the number 1 intersected 12 feet averaging 0.23% nickel and 0.06% copper and 3 feet averaging 0.38% nickel and 0.11% copper.

The four holes were drilled northwards to the outcrop area, with hole 4 intersecting zone as mapped in the historical report GM 08808.

The Saguenay Gneiss Complex has abundant mafic and ultramafic rocks and anorthosites, which are commonly associated with Ni-Cu-PGE sulfide deposits (e.g., Voisey's Bay, Labrador; Thompson, Manitoba). The presence of ore grade Ni-Cu samples at surface and in drill core on this property, and the absence of modern exploration is highly encouraging. A work plan for the 2022 field season will focus on detailed geological mapping, bedrock and till sampling across the property, to determine the scope of advanced exploration, and a potential drill program.

Terms of the Agreement for 100% are $10,000 and 2.5 million common shares payable on Regulatory and Exchange approval.

Donald Théberge, P.Eng., M.B.A., an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
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 Corp.



View source version on accesswire.com:
https://www.accesswire.com/699045/Victory-Acquires-100-Interest-in-Saguenay-Nickel-Project

News Provided by ACCESSWIRE via QuoteMedia

VR:CC
The Conversation (0)
Victory Resources (CSE:VR)

Victory Battery Metals

Diverse Portfolio of Base and Battery Metals Projects in North America

Victory Updates Management

Victory Updates Management

Victory Battery Metals CORP. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) is pleased to announce that its board of directors now consist of Gerald Tritt, David Stadnyk and George Tsafalas, all of Vancouver, BC. David Stadnyk has assumed the role of president and CEO. The Company intends to close its... Keep Reading...
Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement

Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement

Victory Battery Metals Corp. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) welcomes Gary Musil as a director of the Company, effective July 1, 2024. Gary Musil has more than 35 years of management and financial consulting experience and has served as an officer and director on numerous public companies... Keep Reading...
Victory Acquires Yellow Chief Uranium Project, Utah and Saskatchewan Uranium Portfolio

Victory Acquires Yellow Chief Uranium Project, Utah and Saskatchewan Uranium Portfolio

Victory Battery Metals CORP. (CSE:VR)(OTC PINK:VRCFF)(FRA:VR6) is pleased to announce that it has significantly expanded it's focus on uranium, with the acquisition of the Yellow Chief uranium property in Utah, and a portfolio of four uranium properties in Saskatchewan. When combined with the... Keep Reading...
Victory Sells Tahlo Lake Property in British Columbia

Victory Sells Tahlo Lake Property in British Columbia

Victory Battery Metals Corp. (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce its sale of its Tahlo Lake, British Columbia property to a private company, Trimera Metals Corp., of Vancouver, British ColumbiaHighlights of the Tahlo Lake Sale:Sale price... Keep Reading...
Victory Battery Metals Corp. Options Kachiwiss Uranium Project and Other Uranium Anomalies

Victory Battery Metals Corp. Options Kachiwiss Uranium Project and Other Uranium Anomalies

Victory Battery Metals CORP. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) is pleased to announce that it has entered into an option agreement dated April 11, 2024 to acquire 100% interest in four claim groupings in the Sept Iles region of Quebec. These claims are being optioned from GLOBEX MINING... Keep Reading...
Empire Metals

Empire Metals Limited - MRE Confirms World Dominant Titanium Discovery

Empire Metals Limited - MRE Confirms World Dominant Titanium DiscoveryEmpire Metals Limited, the AIM-quoted and OTCQX-traded exploration and development company, is pleased to report a maiden Mineral Resource Estimate ('MRE') at its Pitfield Project in Western Australia ('Pitfield' or the... Keep Reading...
Empire Metals

Empire Metals Limited - Conference Presentations & Attendance

Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-listed and OTCQX-traded resource exploration and development company, is pleased to inform investors that the Company will be attending and participating in the following upcoming events and conferences:Ignite Investment Summit Hong Kong... Keep Reading...
metal coins on a bed of australian money.

Australian Government Saves Glencore Copper Smelter with AU$600 Million Investment

The Albanese Government and Crisafulli Government are investing up to AU$600 million over the next three years in Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Mount Isa Copper Smelter and Townsville Refinery to protect over 1,000 jobs.In a joint statement on Wednesday (October 8), Minister for Industry... Keep Reading...
Rows of fine copper bars with text that reads '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Valhalla Jumps 282 Percent on Ambler Approval

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.Statistics Canada released September’s job data on Friday (October 10). According to the... Keep Reading...
Stack of Australian US$100 banknotes in closeup.

BHP to Invest Over AU$840 Million in Olympic Dam Operation as Copper Demand Grows

Major miner BHP (ASX:BHP,NYSE:BHP,LSE:BHP) welcomed October with the news that it will invest over AU$840 million in its Olympic Dam copper operation in South Australia.In an October 1 release, the commodities giant said that the funding is for a series of “growth-enabling projects” at the site,... Keep Reading...

Latest Press Releases

Related News