VANCOUVER, BC, CANADA (August 19th, 2020) – Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company) is pleased to announce that the Company is advancing its exploration plan for its Mal-Wen, British Columbia property.
The Mal-Wen Property consists of 6 mineral claims with a total area of 1143.58 hectares that is located about 30 km southeast of Merritt in south-central British Columbia.
The Mal-Wen Property is within the eastern belt of the Nicola Group, in south-central BC, which hosts numerous alkalic porphyry deposits, including the presently producing New Afton Mine and past producers Ajax and Copper Mountain.
Recent work by Victory Resources on the Mal-Wen property has led to an exploration model in which the Cu + Au mineralization at the Mal and Wen Prospects may be peripheral to a larger Alkalic Porphyry system. The area between and targets at both prospects remain unevaluated.
The Wen Prospect features a zone of alteration and Cu bearing breccias at least 70 m wide and over 400 m in length that contains a quartz vein with Au grades up to 16.6 g/t over 6.6 m (true width 4.4 m). Associated soil and geophysical anomalies are open to the north.
The Mal is a poorly characterized zone of possible copper skarn that is associated with a coincident magnetic and chargeability anomaly. Historical drilling has not tested the main anomaly, but has returned up to 0.5 g/t Au over 8.8 m (true width unknown) and 1.6% Cu over 6 m from mineralization peripheral to the main coincident anomaly. A larger IP anomaly to the east of the Mal Prospect remains untested.
The current focus is on:
“Alkalic porphyry deposits are attractive exploration targets, as they can form large Cu deposits that are often enriched in Au relative to calc-alkalic porphyries,” said Victory geologist Helgi Sigurgeirson, “They are often lower in sulphides, which reduces their environmental risk. The BC Geological Survey has done considerable work in recent years evaluating this belt for its alkalic porphyry potential, and the Mal-Wen Property is prospective for this style of mineralization.”
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.
Forward Looking Statements
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