Victory Resources Corp Provides an Update on Work Program
10 January 2013 - 1:00AM
OTC Markets
Victory Resources Corp Provides an Update on Work Program
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Victory Resources Corp Provides an Update on Work Program
PR Newswire
VANCOUVER, Jan. 9, 2013
Symbol:-TSX-V:VR
OTCQX:VRCFF
VANCOUVER, Jan. 9, 2013 /PRNewswire/ - Victory
Resources Corp. (the "Company") is pleased to
provide a 2012 Summary update on the companies Mexican
properties to date.
Recent results from a work program on the Reforma 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.
"We expect 2013 to be a pivotal year for the company as we advance
the
current work/development program and seek strategic alliances
with
financial and operating partners for the Reforma property," stated
Wally Boguski, President and CEO.
"2012 was a challenging environment
for the junior mining sector stemming from concerns with the
global
economy. The company is continuing to execute its corporate
strategy
and we look forward to reporting our company's progress in
2013."
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
has earned 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.
Corporate Responsibility
Victory Resources Corp has a stated commitment of supporting
the
properties' neighboring communities through dedicated programs with
a
goal to improve the quality of life for all of its local
citizens.
Supported by our corporate values, our corporate philosophy
promotes
the creation of a positive work environment, which is crucial to
the
success of our company. We uphold our values through policies
and
envoirmental programs that foster employee commitment to
sustainable
development. We endeavour to protect human dignity and
individual
beliefs, and strive to create an environment that promotes
mutual
respect for our employees, subcontractors, neighbouring
communities,
host governments and the general population. In keeping with
our
commitment to promote the development of the communities
neighboring
our properties, our recruitment initiatives focus on hiring
local
employees. We believe in the importance providing training to
local
employees so they can eventually benefit from positions of
greater
responsibility.
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
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