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Victory Completes Sampling Program at Black Diablo, Nevada Property

2021-05-27 07:01 ET - News Release

Victory Exploration Team Investigating Manganese Oxide Deposits for Copper in the Vicinity of the Big Mike Deposit

VANCOUVER, BC / ACCESSWIRE / May 27, 2021 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that its exploration team has completed a sampling program on the Company's Black Diablo property in Nevada. 72 soil samples and 22 rock samples were collected and submitted to ALS for analysis.

The primary purpose of the sampling was to investigate whether the Black Diablo manganese oxide deposits are anomalous in Cu (copper). This area is considered to be a favorable tract for Cyprus style VMS deposits by the USGS (Peters, et al, 1996), such as the Cu rich Big Mike Deposit about 10 miles to the south of the property. Cyprus VMS deposits and Mn-oxide deposits in this tract are spatially and geologically associated. The single assay included in the Black Diablo MRDS by the USGS indicated a Cu value of 10,000 ppm Cu, which indicates the sample was at least 1% Cu. Franciscan Type Mn-oxide deposits often report trace Cu, so significantly higher Cu values may indicate the area is prospective for Cyprus style VMS.

Sampling will also be looked at for indications of additional Mn-oxide mineralization in the area. While limited drilling has been done in the immediate vicinity of the Black Diablo Mine, no work has been documented on the rest of the property.

"With the proximity to the Loner property, where our drilling program was just completed, we have deployed our exploration team to Black Diablo to conduct this sampling program, prior to further exploration work in Nevada," said Mr. Mark Ireton, Victory CEO. "We have a strong exploration team on the ground, fully equipped and we are maximizing all of those resources to advance our Nevada properties, including Smokey Lithium."

Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory Geologist, and a "qualified person" under NI 43-101.

About the Black Diablo Property:

The Black Diablo Project is exploring for VMS Copper deposits in the same belt of rocks as Nevada Sunrise Gold Corp's Coronado VMS Project immediately to the south. The Big Mike Copper Mine is on the Coronado Property, about 10 miles south of the Black Diablo Property. The close proximity of the Black Diablo to the Loner Property allows for cost effective evaluation of the Black Diablo while crews are in the area. The Big Mike Copper Mine produced about 25 million pounds of copper in 100,000 tons of ore grading 10.5% copper, which was shipped directly to a smelter in West Germany. Ranchers also carried out heap leaching on the lower grade disseminated copper ore, treating about 300,000t of mineralised rock.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corp.



View source version on accesswire.com:
https://www.accesswire.com/649354/Victory-Completes-Sampling-Program-at-Black-Diablo-Nevada-Property

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