VANCOUVER, Jan. 9, 2013 /CNW/ - Victory Resources Corp. (the "Company") is pleased to provide a 2012 Summary update on the companies Mexican properties to date.
Recent results from a work program on the Reforma were announced on August 7, 2012 where the company reported the results of 29 samples taken along a drift over a length of 80 metres that showed a weighted average of 231.48 g/t silver, 0.84% copper, 6.00% lead and 14.12% zinc. Each sample weighed between 5kg and 10kg and the average interval between samples was approximately 3 meters.
The samples were collected from channels cut across vein material in skarn at the 690 level. This initial underground sampling is part of a continuing program of the company to evaluate the resource potential of the La Reforma property. Additional sampling is planned for the lower levels at Level 680, Level 650 and Level 620 over a cumulative strike length of 350m and average backs (height) of some 60m. These levels are presently accessible through existing portals. This sampling program will be augmented by surface and underground diamond drilling. Underground drilling stations can be constructed at minimum cost.
"We expect 2013 to be a pivotal year for the company as we advance the current work/development program and seek strategic alliances with financial and operating partners for the Reforma property," stated Wally Boguski, President and CEO. "2012 was a challenging environment for the junior mining sector stemming from concerns with the global economy. The company is continuing to execute its corporate strategy and we look forward to reporting our company's progress in 2013."
Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI 43-101 has approved the geological content of this Press Release
About Victory Resources Corporation
The company's main focus is on the 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 has earned a 70% undivided interest in the Reforma property as part of an option agreement. Formerly owned by Penoles in Mexico, documentation showed that between the years 1968 to 1980, the Reforma mine processed 1.8 million tonnes 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.
The recently optioned Boleo property is situated on the western foothills of the Sierra Madre Occidental mountain range, at the common boundary of the northeastern Mexican States of Sinaloa and Chihuahua and expands the resource potential of Victory with 20,460 hectares of contiguous property. This area is characterized by a northerly prolific mineralized belt hosting the multi-million-tonne porphyry copper and gold deposits of Santo Tomas and Bahuerachi.
Victory Resources Corp has a stated commitment of supporting the properties' neighboring communities through dedicated programs with a goal to improve the quality of life for all of its local citizens. Supported by our corporate values, our corporate philosophy promotes the creation of a positive work environment, which is crucial to the success of our company. We uphold our values through policies and envoirmental programs that foster employee commitment to sustainable development. We endeavour to protect human dignity and individual beliefs, and strive to create an environment that promotes mutual respect for our employees, subcontractors, neighbouring communities, host governments and the general population. In keeping with our commitment to promote the development of the communities neighboring our properties, our recruitment initiatives focus on hiring local employees. We believe in the importance providing training to local employees so they can eventually benefit from positions of greater responsibility.
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.
SOURCE: Victory Resources Corporation
For further information:
Corey Safran, Strategic Development at 609-228-0595, or by email at [email protected].