COMPANY ADVANCES TOWARD 500m SHORT-HOLE DRILL PROGRAM
VANCOUVER, BC, CANADA (February 25th, 2021) – Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that the Bureau of Land Management (BLM), Nevada State Office (NSO) has received and approved surface reclamation bond NVN100216 for the Loner Property Project, located in North Central Nevada, permitting the Company’s 500m short hole drill program.
“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.
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: [email protected]
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
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