Symbol:-TSX-V:VR
OTCQX:VRCFF
VANCOUVER, Aug. 3, 2012 /PRNewswire/ - Victory
Resources Corp. (the "Company") is pleased to
provide an update on the current drill program on the Reforma property.
The most recent drill hole on the La Reforma that encountered significant
mineralization was RDH 11 which intersected a zone from 198.12m to
207.87m of galena, sphalerite and chalcopyrite in skarn. Drill core
samples were sent to ALS Chemex in Hermosillo, Mexico for analysis.
The current surface drill program is to explore
for geological extensions of the main La
Reforma structure particularly at depth. In connection with
the overall exploration program of La
Reforma the company expects to announce shortly assay
results of underground sampling of sulfide bearing skarn in old
drifts, sub-levels and stoping areas that has recently become
accessible. The ongoing work programs are intended to outline the
vein system to the South as well as to the North of the main
structure.
"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 previously announced demonstrate highly
anomalous results."
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.
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
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 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.
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