VANCOUVER, Sept. 14, 2011 /PRNewswire/ - VICTORY RESOURCES CORPORATION (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 underground 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.
SOURCE Victory Resources Corporation