Victory Resources Corp provides an update on work program
Thursday, Jan 10, 2013
VANCOUVER, Jan. 9, 2013 /CNW/ - Victory Resources Corp. (the "Company") is pleased to provide a 2012 Summary update on the companies Mexican properties to date.
Recent results from a work program on the Reforma 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.
"We expect 2013 to be a pivotal year for the company as we advance the current work/development program and seek strategic alliances with financial and operating partners for the Reforma property," stated Wally Boguski, President and CEO. "2012 was a challenging environment for the junior mining sector stemming from concerns with the global economy. The company is continuing to execute its corporate strategy and we look forward to reporting our company's progress in 2013."
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 has earned 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.
SOURCE Victory Resources Corporation