This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Victory Resources Corp. - Reforma Sampling Results Of 231 G/tonne Of Silver, 14.12% Zinc

Symbol:-TSX-V:VR OTCQX:VRCFF

VANCOUVER, Aug. 9, 2012 /PRNewswire/ - Victory Resources Corp. (the "Company") is pleased to announce the initial results on their ongoing underground work program conducted on the Company's La Reforma property located north of Choix, Sinaloa State, Mexico.

The results of initial underground sampling at the La Reforma project have been received. The samples were collected from channels cut across vein material in skarn at the 690 level. From 29 samples taken along the drift over a length of 80 metres show weighted average values as follows:

Silver:   231.48 grams per tonne Copper:   0.84% tonne Lead:   6.00% tonne Zinc:   14.12% tonne

Level 690 was also the site of limited stoping. In addition to the samples taken along the drift, samples were also taken from accessible faces in the stopes bringing the total number of samples to 44. The weighted average values of all samples taken from Level 690 to date are as follows:

Silver:   183.00 grams per tonne Copper:   0.73%/ tonne Lead:   4.32%/ tonne Zinc:   10.94%/ tonne

It should be pointed out that samples taken in the stoping area are not regularly spaced due to difficulty of access. Further sampling will require the use of ladders. Level 690 has an estimated back (height) of 20m.

This initial underground sampling is part of a continuing program of the company 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 are very encouraged by the consistent results from the underground sampling especially over a significant length of 80 metres," stated Wally Boguski, President and CEO. "The company will continue to advance the planned drilling and sampling work programs. These results have demonstrated the same highly anomalous results for Copper, Silver, Zinc and Lead as previous historic results and bring the company a significant step closer to the goal of determining a resource estimate."

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.

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.

The Company has also begun exploration work on the Au-Wen property in British Columbia, Canada. The Au-Wen property is 100% owned by Victory Resources and is located 30 kilometers southeast of Merritt and 8 kilometers east of the historic Aspen Grove mining camp in south-central British Columbia, Canada. The property is comprised of 111 contiguous claims (tenures) covering an area of 44,170 hectares. The area covered is up to 39 kilometres long and up to 21 kilometres wide.

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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,152.97 +21.00 0.12%
S&P 500 2,001.97 +2.99 0.15%
NASDAQ 4,559.4830 +6.7240 0.15%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs