Symbol:-TSX-V:VR
OTCQX:VRCFF
VANCOUVER,
Oct. 31, 2012 /PRNewswire/ -
Victory Resources Corp. (the "Company")
is pleased to provide an update on the current drill program on the
La Reforma property as well as metallurgical testing of bulk
samples from the Matanza and the Altamira tailings ponds.
The most recent results from the current drill
program 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.
The analytical results of recent tests of
tailings samples using a recovery mill were inconclusive. The assay
results of preliminary sampling that the company reported on
March 1, 2012 showed elevated values
of silver in the tailings ranging from 4.20 ppm to a high of 60.8
ppm, as well as some high values of zinc. The company is preparing
to ship further representative samples of the of the Matanza and
Altamira tailings ponds to a qualified analytical laboratory in
Arizona for additional
testing.
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.
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
