VANCOUVER, Jan. 4, 2012 /CNW/ - Victory Resources Corp (TSXV: VR) (the "Company") announces the results of the third hole, RDH 08 in the 2nd stage diamond drilling program of Victory Resources Corp. in their optioned La Reforma property northeast of Choix, Sinaloa State as shown in the table below.
RDH 08 Assay Results
|Sample ID||From (m)||To (m)||Interval (m)||Au (g/mt)||Ag (g/mt)||Cu %||Zn %||Pb %|
There are two mineralized intervals in drill hole RDH 08, the deeper part of which intersected significant silver and copper values from 146.23m to 151.79m. These intersections appear to indicate a down dip extension of 200 metres of the main La Reforma vein below the 580m Level. The shallower mineralized sections from 34.24m to 46.07m intersected significant silver, lead and zinc values over intervals of 2.48m and 2.98m. These shallower sections appear associated with similar results in previous drilling by Penoles, particularly drill hole SCR 278. The immediate area around the Penoles drill hole SCR 278 appears prospective for near-surface mineralisation and shall be investigated in detail when drilling resumes early in 2012.
The current drill program continues to verify geological extensions of the main La Reforma structure. To date, some 500m of strike length and 200m of down dip extension has been inferred. Underground diamond drilling is being contemplated to augment the current surface drilling program as well as to accelerate the definition of extensions of the main La Reforma vein system.
The La Reforma Property was operated by Penoles Industries SA de CV between the years 1968 to 1980. During this period of lower metal prices, the La Reforma mine processed 1.8 million tons of complex ore grading an average of 91.62 grams per ton Ag, 1.90%, Pb, 7.44% Zn and 0.63% Cu. "The main objective of the current exploration program is to define a mineral resource of substantial scale to justify a preliminary economic assessment," stated Wally Boguski, President and CEO, "We are very encouraged that the results from the 2nd stage drill program continue to demonstrate highly anomalous results."
About Victory Resources Corporation
The company's main focus is on the La 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 will earn a 70% undivided interest in the La Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the La Reforma mine processed 1.8 million tons 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.
Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI 43-101 has approved the geological content of this Press Release.
On behalf of The Board of Directors of Victory Resources Corporation.
Paul Lee, Director
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Victory Resources Corp. which may cause actual results, performance or achievements of Victory Resources Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
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Please contact Wally Boguski at 604-580-9605