Lac Simard Property Abuts Southern Edge of Agnico Eagle’s Goldex Claim Block within a 20 km region with three operating Gold mines
VANCOUVER, BC, CANADA (September 22nd, 2020) – Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company) is pleased to announce the arms-length acquisition of the Lac Simard Property in Quebec from Archie Capital Inc.
The Lac Simard Property (the “Property”) is approximately 5 km south of Val-d'Or, Quebec. The Property abuts the southern edge of Agnico Eagle’s Goldex claim block. There are 3 operating gold mines within 20 km of the Property including Agnico Eagle’s Goldex and Canadian Malartic mines and Eldorado Gold’s Lamaque mine. All three of which are considered to be orogenic gold deposits and occur along the Larder Lake – Cadillac Fault System.
Background on the Three operating Gold Mines in the area of the Lac Simard Property
The Property consists of 46 contiguous mining titles with a total area of 2560 hectares. The Property is largely underlain by metasediments of the Neoarchean Pontiac Group. Narrow ultramafic intrusives and/or volcanics occur at the west end of the Property. Several Biscotasing Dikes cross the Property. A regional fault which parallels the Larder Lake -Larder Lake Cadillac Fault system runs across the west half of the Property. The Property is road accessible and is crossed by an all-weather road.
Terms of the agreement include 5,000,000 shares at a deemed price of .115 CAD and $25,000. The shares will be subject to a four-month hold.
Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory geologist, and a "qualified person" under NI 43-101.
For further information, please contact:
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 currently seeking other exploration opportunities, preferably in Canada.
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.
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