Symbol:-TSX-V:VR
OTCQX:VRCFF
VANCOUVER,
April 9, 2012 /PRNewswire/ -
Victory Resources Corp (Symbol VR-TSXV) (the "Company") is
pleased to announce that it has begun
a systematic drilling program to determine
the potential size and grade values of the Matanza and
Altamira historic Reforma tailings
deposit located beside the Reforma
historic mine site.
The drill program has a surveyed grid of 20
by 20 meters, with a total of 93 holes planned
with a depth of 15 meters on average. This 1400 meter
drill program is expected to take about 30 days to complete.
Upon completion of the drilling, a
representation bulk sample will be sent to a laboratory to
determine the mineralogical and metallurgical studies for recovery
values followed by a feasibility study of re-processing the
material.
"Based on the initial results from the tailings
pond that we previously announced, we are pleased to commence the
confirmatory drill program on the tailings pond," stated
Wally Boguski, President and CEO.
"The potential of an economically viable resource in the tailings
pond will be an important milestone in our development of the
Reforma mine site."
Mr. John
Thornton, S.A.I.M.M., 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
will earn 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 company has also begun exploration work on
the Au-Wen property in British Columbia,
Canada. The Au-Wen property is 100% owned by Victory
Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic
Aspen Grove mining camp in
south-central British Columbia,
Canada. The property is comprised of 91 mineral claims
covering an area of 34,200 hectares. The area covered is up to 39
kilometres long and up to 21 kilometres wide.
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