VANCOUVER, May 31, 2011 /CNW/ - VICTORY RESOURCES CORPORATION (the "Company") (TSXV:VR) - The Company is pleased to announce the completion of a 55.4 kilometer geochemical
survey on the Reforma Mine vicinity including the Reforma South
vicinity 1.5 km south of the Reforma Mine and the Chapote Copper/Gold
zone vicinity 2 km to the west of the Reforma Mine. A total of 554
samples have been submitted to ALS Chemex De Mexico, S. A. laboratory
in Hermosillo. The company is currently awaiting results.
In conjunction with the geochemical survey, 4 diamond drill holes have
been completed south of the Reforma Mine mineralized zone. The goal of
this initial drilling was to investigate at depth the southerly
extension of the Reforma mineralized zone and its possible extension
towards the Reforma South zone. Drill core samples have been submitted
and assay results are expected shortly.
Formerly operated by "Industrias Penoles, S.A. de C.V.", historic
documents show that between the years 1968 to 1980, the Reforma Mine
processed 1.8 million tonnes of complex ore grading an average of 91.62
g/t Ag, 1.90% Pb, 7.44% Zn & 0.63% Cu. This recorded production at
current metal prices would be worth over US $514,000,000.
Equipment is being mobilized for the purpose of pumping the Reforma main
adit as well as the Reforma South underground workings, preparatory to
underground rehabilitation and diamond drilling. The purpose of this
drill program is to investigate geological extensions of known
mineralized zones as well as grade of pillars left from previous
Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by
National Instrument Policy 43-101 has approved the geological content
of this Press Release.
On behalf of The Board of Directors of Victory Resources Corporation.
Wally E. Boguski, President, CEO, 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
For further information:
please contact Wally Boguski, President, at 604-580-9605.