Victory Resources Corporation - 2nd stage drilling underway on Reforma
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VANCOUVER, Aug. 29, 2011 /PRNewswire/ - 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 Corporation
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