Victory Resources receives drill permits for Queen
UPDATE ON MERRITT PROPERTY WORK PROGRAM
Victory Resources Corp. has received all permits and studies required to complete the drill program on the Queen zone. The purpose of the drill program is to verify results from an IP (induced polarization) survey completed in 1968 by Barringer Research within an anomalous IP zone of approximately one kilometre wide (east-west) and one kilometre long (north-south), as reported by Roger Caven, geophysicist, and indicated as L56S on a map. The chargeability readings of the one-kilometre-wide anomalous zone are up to 24 milliseconds. The anomalous zone extends to L68S or 1,200 feet (365 metres) and open to the south.
A core assay from a 1968 drill hole completed on a seven-millisecond IP chargeability of the same IP survey two kilometres north of L56S returned 33 metres of 0.344 per cent copper. The higher anomalies of the IP survey were reportedly not drilled due to lack of financing.
The 2014 Victory zone survey consisted of one three-kilometre east-west line correlating with the 1968 IP survey. The results were extremely positive in that an anomalous zone of up to one kilometre wide with anomalous chargeability readings of up to 39 milliseconds, which exceeded the previous anomalous results of Barringer Research.
The drill program will commence in the spring 2016 on the Queen zone, with a 400-metre diamond drill hole to test the central portion of the IP anomaly and 800 metres of NQ-core-size drilling to follow.
Laurence Sookochoff, PEng, a qualified person as defined by the National Instrument 43-101, is responsible for the technical information contained in this news release.
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