Victory Resources Corp Provides Update on Drill Program and Tailings Samples
VANCOUVER, Oct. 31, 2012 /PRNewswire/ – Victory Resources Corp. (the “Company”) is pleased to provide an update on the current drill program on the La
Reforma property as well as metallurgical testing of bulk samples from
the Matanza and the Altamira tailings ponds.
The most recent results from the current drill program were announced on
August 7, 2012 where the company reported the results of 29 samples
taken along a drift over a length of 80 metres that showed a weighted
average of 231.48 g/t silver, 0.84% copper, 6.00% lead and 14.12% zinc.
Each sample weighed between 5kg and 10kg and the average interval
between samples was approximately 3 meters.
The samples were collected from channels cut across vein material in
skarn at the 690 level. This initial underground sampling is part of a
continuing program of the company to evaluate the resource potential of
the La Reforma property. Additional sampling is planned for the lower
levels at Level 680, Level 650 and Level 620 over a cumulative strike
length of 350m and average backs (height) of some 60m. These levels are
presently accessible through existing portals. This sampling program
will be augmented by surface and underground diamond drilling.
Underground drilling stations can be constructed at minimum cost.
The analytical results of recent tests of tailings samples using a
recovery mill were inconclusive. The assay results of preliminary
sampling that the company reported on March 1, 2012 showed elevated
values of silver in the tailings ranging from 4.20 ppm to a high of
60.8 ppm, as well as some high values of zinc. The company is preparing
to ship further representative samples of the of the Matanza and
Altamira tailings ponds to a qualified analytical laboratory in Arizona
for additional testing.
Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI
43-101 has approved the geological content of this Press Release.
About Victory Resources Corporation
The company’s main focus is on the Reforma property located at the
common boundary of Sinaloa and Chihuahua States in west central Mexico.
The concessions cover a total area of 7,226 hectares. Victory Resources
will earn a 70% undivided interest in the Reforma property as part of
an option agreement. Formerly owned by Penoles in Mexico, documentation
showed that between the years 1968 to 1980, the Reforma mine processed
1.8 million tonnes grading an average of 91.62 grams per tonne Ag, 1.90
per cent Pb, 7.44 per cent Zn and 0.63 per cent Cu.
The recently optioned Boleo property is situated on the western
foothills of the Sierra Madre Occidental mountain range, at the common
boundary of the northeastern Mexican States of Sinaloa and Chihuahua
and expands the resource potential of Victory with 20,460 hectares of
contiguous property. This area is characterized by a northerly prolific
mineralized belt hosting the multi-million-tonne porphyry copper and
gold deposits of Santo Tomas and Bahuerachi.
On behalf of The Board of Directors of Victory Resources Corporation.
Paul Lee, Director
This news release contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under
the control of Victory Resources Corp. which may cause actual results,
performance or achievements of Victory Resources Corporation to be
materially different from the results, performance or expectation
implied by these forward looking statements. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release, which has been prepared
SOURCE Victory Resources Corporation