India markets closed
  • BSE SENSEX

    49,591.32
    -154.89 (-0.31%)
     
  • Nifty 50

    14,834.85
    -38.95 (-0.26%)
     
  • USD/INR

    74.7190
    +0.1580 (+0.21%)
     
  • Dow

    33,800.60
    +297.03 (+0.89%)
     
  • Nasdaq

    13,900.19
    +70.88 (+0.51%)
     
  • BTC-INR

    4,510,536.00
    +93,034.00 (+2.11%)
     
  • CMC Crypto 200

    1,235.89
    +8.34 (+0.68%)
     
  • Hang Seng

    28,698.80
    -309.27 (-1.07%)
     
  • Nikkei

    29,768.06
    +59.08 (+0.20%)
     
  • EUR/INR

    88.9028
    +0.0430 (+0.05%)
     
  • GBP/INR

    102.3868
    -0.0108 (-0.01%)
     
  • AED/INR

    20.2980
    +0.0430 (+0.21%)
     
  • INR/JPY

    1.4647
    +0.0019 (+0.13%)
     
  • SGD/INR

    55.7130
    +0.0690 (+0.12%)
     

Victory Resources Corp. Ready to Launch Gold Drilling Program on Promising Nevada Property

Victory Resources Corp.
·7-min read

NEW YORK, NY, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Victory Resources Corp. (OTC Pink: VRCFF) (CSE: VR) (FSE: VR61) recently added additional funding to its coffers, which will be used, in part, to begin its first drilling program on the Loner Property in Nevada. It’s a property that the company only recently optioned from Silver Range Resources in late December, and since optioning the property, Victory Resources has moved quickly to take full advantage of its exploration opportunities there with a carefully laid out 500-meter short hole drilling program.

The company’s planned drilling program is expected to begin next month (March 2021), weather permitting, now that Victory Resources has received the much-anticipated drilling permit for the project from the Nevada State Office of the Bureau of Land Management giving Victory Resources the go-ahead as announced this week.

According to Victory Resource’s Director and VP of Exploration, David R. Deering, P.Eng., the first pass drilling program at the Loner Property will consist of 7 to 10 diamond drill holes totaling 500 meters, and it will be used to confirm intersections of gold-bearing quartz veins that correlate with historical underground mining and mapped surficial gold occurrences.

Additionally, the initial drilling program will evaluate the 200 to 300-meter-wide zone of anomalous soils identified by Silver Range Resources through principal component analysis. Specifically, the company says that its drilling operations will focus on the area of gold-in-soil anomalies to the south and east of the main workings; however, Victory Resources expects to evaluate other areas as well.

The company anticipates that the drill program will demonstrate broader mineralization across the width and depth of the occurrence which remains open in all directions. Previous reports state that the strong gold and arsenic geochemical anomalies are coincident with the exposed mineralization and historic workings.

When discussing the anomalies found in prior work, David Deering said, “This indicates that the drill program may define the anomalies more extensively throughout the target area. This first pass drilling work will evaluate the best and most productive way to continue bringing the project forward over the coming year.”

The significance of the upcoming program is that it expects to build upon extremely encouraging results found on the property to date. And, in doing so, the company will advance the story of the Loner Property, which is located 35 kilometers, or about 22 miles, south of Winnemucca, Nevada, in the southern Sonoma Range. Loner currently consists of 16 Federal Lode Claims covering historic workings and exposed low-sulphidation gold mineralization.

Excitement for the future of the Loner Property is generated by recent exploration successes in the area. The project is across Grass Valley and 12 miles north of the Goldbanks Project (current resources 557,000 ounces of Gold). There are strong similarities between Loner and the Goldbanks Deposit in terms of geological setting and style of mineralization found at each. Also, the Coronado VMS Project, which has been exploring for copper on a property about 6 miles southeast of the Loner Property. Victory Resources says that the area of the Loner Property is prospective for both these styles of mineralization, gold and copper.

David Deering added, “As previously noted, Loner is a promising property. Our efforts have been extensive since acquiring the option in December and with this announcement our team is in place and prepared to accelerate exploration activities with the launch of our 2021 work program.”

This is an excellent exploration opportunity for Victory Resources on what expects to be promising and ideally-situated property with year-round exploration access in an area of mineralization-rich Nevada that is in the vicinity of Goldbanks, and an area where industry mainstays, Barrick, Kinross, and Premier have interests.

To learn more about Victory Resources Corp., visit https://www.victoryresourcescorp.com.

About Victory Resources Corp.

Victory Resources Corp. is a publicly-traded, junior, international mining company with interests in North America. The company is currently developing its existing projects, including its recently optioned Loner property in Nevada adjacent to Goldbanks, its British Columbia Mal-Wen property and its recently acquired properties, Hammond Reef South in Ontario, adjoining Agnico Eagle’s Hammond Reef mine, and Lac Simard in Quebec, located within 20 kilometers of 3 operating gold mines, including Agnico Eagle’s Goldex, Canadian Malartic mines and Eldorado Gold’s Lamaque mine.

About Stock Market Media Group

Stock Market Media Group is a news & media content development IR firm offering a platform for corporate stories to unfold in the media with press releases, feature news articles, corporate videos, radio-style CEO interviews, and research reports.

This article was written based on publicly available information. Stock Market Media Group may, from time to time, include our own opinions about the companies, their business, markets, and opportunities in our articles. Any opinions we may offer about any of the companies we write about are solely our own and are made in reliance upon our rights under the First Amendment to the U.S. Constitution, and are provided solely for the general opinionated discussion of our readers. Our opinions should not be considered to be complete, precise, accurate, or current investment advice, or construed or interpreted as research. Any investment decisions you may make concerning any of the securities we write about are solely your responsibility based on your own due diligence. Our publications are provided only as an informational aid, and as a starting point for doing additional independent research. We encourage you to invest carefully and read the investor information available at the website of the U.S. Securities and Exchange Commission at www.sec.gov, where you can also find all of Victory Resources Corp.’s filings and disclosures. We also recommend, as a general rule, that before investing in any securities, you consult with a professional financial planner or advisor, and you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. We are not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security. Our publications about Victory Resources Corp. are not a recommendation to buy or sell a security.

Should Stock Market Media Group and its management own shares in the profiled company, they may benefit from any increase in the share price of the profiled companies and hold the right to sell the shares bought at any given time including shortly after the release of the company’s profile. Section 17(b) of the 1933 Securities and Exchange Act requires publishers who distribute information about publicly traded securities for compensation, to disclose who paid them, the amount, and the type of payment. Under the Securities Act of 1933, Section 17(b), Stock Market Media Group discloses that it was remunerated one-thousand, two hundred dollars paid for by a third party via bank wire, to produce this content related to Victory Resources Corp.

Stock Market Media Group and its management do not own any shares in Victory Resources Corp. and never accepts compensation in free-trading shares for its marketing services of the company being profiled, however third parties that have compensated Stock Market Media Group may hold free-trading shares of the company being profiled and could very well be selling, holding or buying shares of the company’s stock at the same time the content is being disseminated to potential investors; this should be viewed as a definite conflict of interest and as such, the reader should take this into consideration.

If Stock Market Media Group ever accepts compensation in the form of free trading shares of the company being profiled and decides to sell these shares into the public market at any time before, during, or after the release of the company’s profile, our disclaimer will be updated accordingly to reflect the current position of any free trading shares received as compensation for our services.

CONTACT: Stock Market Media Group info@stockmarketmediagroup.com