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Summary
The Reforma property as part of an option agreement after the expenditure of a USD$2,500,000 work program to be completed before Q1 2013.
The Reforma property has a history of commercial production from underground mining that lasted 13 years after which at closure produced 2,000,000 tonnes of complex ore with historical average grades of91.62gpt Ag, 1.90% Pb, 7.44% Zn and 0.63% Cu.
The drill program is underway to determine the extension deposits to the previously operating Reforma mine. The first set of results from the drill program was announced in July 2011.
The Reforma property is located just west of the Bahuerachi copper deposit which was sold in 2007 for $214M.
Positioned
The Reforma property area borders two significant mineral deposits. The Bahuerachi property, (which was formally owned by Tyler Resources) was purchased in 2008 by Jinchuan Group China, for an approximately value of $216 million dollars. The Bahuerachi Main Zone reportedly contains a mineral resource of some 525 million measured and indicated tonnes grading 0.40% Cu with values of molybdenum, gold, silver, and zinc.
The second significant mineral deposit bordering the Reforma land package is the Santo Tomas porphyry mineral deposit, south of the Reforma property on the western regional graben structure and reportedly contains a mineral resource of some 600 million tonnes grading 0.363 % Cu (plus gold and silver credits) in the North Zone and some 350 million tonnes grading 0.309 % Cu (plus gold and silver credits) in the South zone.
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Ownership
VicRes Mining Mexico SA De CV, a subsidiary of Victory Resources Corporation of British Columbia Canada, has a purchase agreement to earn 70% interest of the Reforma property comprising of 6,987 hectare of mineral concessions, covering the regional mineralized trend, bordering the Tyler/Bahuerachi Copper deposit and Santo Tomas Copper deposit. The Reforma property contains several important exploration targets.
Strategy
Management strategy is to continue the development of mineral resources in preparation for production on the Reforma property and to continue to develop/explore other targets on the property. The geological setting found at the Reforma area is analogous in Porphyry, Skarn, Breccia and Manto-type mineralization similar to those found at the Cananea district located in Sonora Mexico, the location of one of largest open pit copper mines in the world. Victory Resources Corporation will proceed to implement a work program as recommended by Victory Resources geological team.
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