Symbol:-TSX-V:VR
OTCQX:VRCFF
VANCOUVER,
Aug. 9, 2012 /PRNewswire/ -
Victory Resources Corp. (the "Company")
is pleased to announce the initial results on their ongoing
underground work program conducted on the Company's La Reforma property located north of
Choix, Sinaloa State, Mexico.
The results of initial underground sampling at
the La Reforma project have been
received. The samples were collected from channels cut across vein
material in skarn at the 690 level. From 29 samples taken along the
drift over a length of 80 metres show weighted average values as
follows:
Silver: 231.48 grams per
tonne
Copper: 0.84% tonne
Lead: 6.00% tonne
Zinc: 14.12% tonne
Level 690 was also the site of limited stoping.
In addition to the samples taken along the drift, samples were also
taken from accessible faces in the stopes bringing the total number
of samples to 44. The weighted average values of all samples taken
from Level 690 to date are as follows:
Silver: 183.00 grams per
tonne
Copper: 0.73%/ tonne
Lead: 4.32%/ tonne
Zinc: 10.94%/ tonne
It should be pointed out that samples taken in
the stoping area are not regularly spaced due to difficulty of
access. Further sampling will require the use of ladders. Level 690
has an estimated back (height) of 20m.
This initial underground sampling is part of a
continuing program of the company 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 are very encouraged by the consistent
results from the underground sampling especially over a significant
length of 80 metres," stated Wally
Boguski, President and CEO. "The company will continue to
advance the planned drilling and sampling work programs. These
results have demonstrated the same highly anomalous results for
Copper, Silver, Zinc and Lead as previous historic results and
bring the company a significant step closer to the goal of
determining a resource estimate."
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 111 contiguous claims
(tenures) covering an area of 44,170 hectares. The area covered is
up to 39 kilometres long and up to 21 kilometres wide.
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.
SOURCE Victory Resources Corporation