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Non Brokered Private Placement Arranged

By ⋅ November 10, 2011 ⋅ Post a comment

VANCOUVER, BC – VICTORY RESOURCES CORPORATION (Symbol VR-TSXV) (the “Company”) The Company is pleased to announce that it has arranged a non-brokered private placement which consists of up to 6,000,000 Non-flow-through Units. The total Non-flow-through proceeds arranged are up to $2,100,000.

Each Unit will be priced at $0.35 cents which will consist of one non-flow-through common share and one-half non-flow-through warrant. Each full warrant entitles the holder to purchase one common share at a price of $0.50 cents per share following 24 months from the closing date.

Proceeds of the Private Placement will be used for an ongoing work and drill program on its Mexican Reforma property as well as general working capital.

The company agreed to pay finders’ fees to arm’s-length qualified parties.

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.

Victory Resources Corporation – Drilling intersects 12.45% Zinc and 0.88% copper

By ⋅ November 8, 2011 ⋅ Post a comment
Vancouver, BC – Victory Resources Corp (Symbol VR-TSXV) (the “Company”) is pleased to announce the initial results of the Stage II drill program conducted on the Company’s optioned La Reforma property located north of Choix, Sinaloa State, Mexico. The first drill hole RDH 006 in this 2nd stage program intersected mineralization from 200.85m to 209.25m, a total of 8.40m. This core interval has not been corrected for true thickness. The results suggest the continuity of the La Reforma skarn mineralization at depth and southwards as evidenced by the results of RDH 001 and RDH 002 which intersected similar mineralization some 500m to the south, see Victory Resources news release, July 12, 2011.

Table 1:

 

 

 

 

 

 

All core samples were sawn, half of which were submitted to ALS Chemex for standard analysis following best practice sampling and bagging procedures. The remaining half of the split cores is stored at the Company’s premises in Choix.

Additional drilling in this Stage 2 program will continue to explore the downward extension of the iron skarn mineralization as well as to confirm its continuity along strike to the south.

“We are very encouraged that the results from our first drill target from the 2nd Stage drill program have demonstrated the same highly anomalous results for copper, silver, zinc and lead as previous drill hole results,” stated Wally Boguski, President and CEO. “In particular, the fact that these results are derived from a drill hole that is 500 meters from RDH 001 and RDH 002 which demonstrated similarly high grades provide further confidence in the size of the mineralized Zone.”

About Victory Resources Corporation

The company’s main focus is on the 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 La 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.

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

EQUIPMENT IS ONSITE TO BEGIN UNDERGROUND REHABILITATION

By ⋅ September 14, 2011 ⋅ Post a comment

VANCOUVER, BC – VICTORY RESOURCES CORPORATION (the “Company”) The Company is pleased to report that equipment is on site in preparation for underground rehabilitation and diamond drilling on the Reforma main adit as well as the Reforma South underground workings.

The main adit was originally constructed by Penoles when they operated the Reforma property between 1968-1980. The rehabilitation of the main adit should take several weeks to complete at which time the company can begin a deeper diamond drill program.

“The previous construction of the main adit by Penoles represents a large savings of money and time and will allow our company to advance to deeper drill targets more quickly and be more cost effective”, stated Wally Boguski, president of Victory Resources Corporation. “We will begin the underground rehabilitation of the main adit in Q4 of this calendar year and expect to begin the diamond drill program in the first half of 2012.”on the deeper unground targets.

About Victory Resources Corporation

The company’s main focus is on the 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. Formally 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.

 

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.

EXPANSION OF 2ND STAGE DRILLING PROGRAM

By ⋅ September 7, 2011 ⋅ 2 comments

VANCOUVER, BC – VICTORY RESOURCES CORPORATION (the “Company”) is pleased to report that geochemical results taken from the Reforma South and the El Chapote properties demonstrated the same highly anomalous copper, silver, zinc and lead geochemical results that were returned from the samples taken from the Reforma Property.

The company has decided to expand the 2nd stage drill program to include Reforma South and El Chapote. As previously announced, the 2nd stage of the diamond drilling program has already commenced on the Reforma property and is expected to drill 2500 meters to determine the estimated depth of the structure from the historic 555 zone (established by Industrias Penoles SA de CV historic data).

“The geochemical results from Reforma South and El Chapote have confirmed the potential for a much larger economically viable ore body”, stated Wally Boguski, president of Victory Resources Corporation. “We always believed that the mining opportunity was much more than the main Reforma property. We now have three areas as part of our 2nd drill program that have the potential to be economically viable. We expect to announce the initial results from the drill program in the fourth quarter of this year.”

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.

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

2ND STAGE DRILLING UNDERWAY ON REFORMA

By ⋅ August 29, 2011 ⋅ One comment

VANCOUVER, BC – VICTORY RESOURCES CORPORATION (the “Company”) is pleased to report that highly anomalous copper, silver, zinc and lead geochemical results have been returned from the samples taken from the Reforma Property. These results have provided the company with the optimal drill targets for the 2nd stage of the diamond drill program.

The company is also pleased to announce that the 2nd stage of the diamond drilling program has already commenced on the Reforma property.  The 2nd stage of the diamond drill program is expected to drill 2500 meters to determine the estimated depth of the structure from the historic 555 zone (established by Industrias Penoles SA de CV historic data) with the objective to build future resources that support an economically viable mining company.

“This continuation of the drill program is a very exciting milestone for the company and brings us one step closer to testing the mineralization and economic feasibility of the Reforma property,” stated Wally Boguski, president of Victory Resources Corporation. “We expect to announce the initial results from the drill program in the third quarter of this year.”

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. Formally 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.

 

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 Press Release 08/29/11


Victory Resources (TSX : VR) Stage I – Drill Results on Reforma

By ⋅ July 12, 2011 ⋅ 2 comments
VANCOUVER, BC – VICTORY RESOURCES CORPORATION (the “Company”) The Company is pleased to announce the results of its first stage drill program designed to explore the southward geological extension of the main Reforma complex ore zone.  Drill hole DDH-001-11 was collared close to a skarn outcrop with the same mineralogy as the main Reforma ore zone comprising pyrite, chalcopyrite and minor amounts of galena and sphalerite.  The drill hole intersected an apparent width of 9.60 metres of 127.4 g/t Ag  (4.49 ounces Silver),  3.125% Pb (Lead) and  0.88% Cu (Copper).  The assay results from the other two holes are tabulated below.

 

Hole No.
Interval (Mts)
Width (Mts)
Au (g/ton)
Ag (g/ton
Cu %
Pb %
Zn %
Zn results pending
DDH-001-11
0.65 to 10.25
9.6
0.1805
127.4
0.888
3.125
0.0493
 
Includes
1.1 to 4.14
3.04
0.371
42.2
1.705
0.72
0.07
4.14 to 5.70
1.56
0.082
17.8
1.895
0.043
0.0409
6.56 to 7.20
0.64
0.213
8.8
1.54
0.011
0.0369
DDH-002-11
1.40 to 9.44
8.04
0.1775
15.36
0.879
0.016
0.0362
 
Includes
3.85 to 6.30
2.45
0.287
40.4
2.22
0.038
0.0295
DDH-004-11
1.37 to 1.70
0.33
0.035
133
0.714
4.69
 
> 10 000
DDH-004-11
2.55 to 6.27
3.77
0.008
5.75
0.018
0.757
 
> 10 000
Includes
2.50 to 3.23
0.73
0.009
10.7
0.033
1.5
> 10 000
DDH-004-11
175.44 to 186.11
10.67
0.02
5.25
0.04
0.028
0.2272
 
Includes
175.44 to 178.49
3.05
0.032
5.9
0.015
0.034
0.125
181.53 to 184.58
3.05
0.01
9.1
0.083
0.038
0.453
Additional drilling is planned to determine the significance and the relationship of the above mineralized intercepts to the main Reforma ore zone.

 

The El Chapote skarn zone 1km northwest of the old Reforma mine is under study for a drill program to commence shortly.

 

A total of 550 samples from a rock geochemistry program were submitted to the ALS – Chemex laboratory in Hermosillo, Mexico for a 32- element ICP analysis. The objective of the geochemical survey was to investigate possible mineralization associated with a widespread area of oxidation immediately west of the Reforma mine.  Contingent on the analytical results, the Company envisages a geophysical survey as a follow up to identify possible drill targets.

 

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.
Wally E. Boguski, President, CEO, 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. 

 

Victory Resources’ (TSX : VR) Analysis of Core Samples to Determine Southward Expansion of Reforma Property Complete!

By ⋅ July 12, 2011 ⋅ Post a comment

Victory Resources (TSX : VR) just published the Stage I geophysical results from a drilling project announced in May.  Core samples from four diamond drill holes south of the Reforma Mine were analyzed to determine the southward expansion of their Reforma property’s ore zone.  To see the results and read the entire press release click here.

Victory Resources Announces Geochemical Survey Completion Results!

By ⋅ May 31, 2011 ⋅ Post a comment

Victory Resources is announcing the completion of a geochemical survey of the area surrounding the Reforma Mine.  The 55.4 kilometer survey included an area south of the mine, dubbed Reforma South, and the Capote Copper/Gold zone, which is two kilometers to the west of Reforma. Victory also completed four diamond drill holes to determine if the mineralized zone below Reforma stretches all the way to Reforma South. The samples gathered from those drill cores are currently being analyzed and assay results are expected in the near future.

Source Victory Resources Website Press Release

Victory Resources Update: Location of Victory’s Reforma Exploration Project

By ⋅ April 18, 2011 ⋅ Post a comment
Victory Resources
 

The Reforma Property

The Reforma property formally owned and operated by “Industrias Peñoles S.A.B. de C.V. (Peñoles), of Mexico is a 6,987 hectare land package, located within a regional northwest trending graben structure which extends through eastern portion of Sinaloa State, Mexico in the Choix Mining District.

Learn More…

Victory Resources Update: Drill Program commences, John Thornton P. Eng. joins Team

By ⋅ April 16, 2011 ⋅ Post a comment

Victory Resources is pleased to announce that first diamond drill has arrived on site and that 1st stage drilling has commenced on the Reforma property.

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