Victory Completes IP Survey ON Its Mal-Wen Property
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY COMPLETES IP SURVEY ON ITS MAL-WEN PROPERTY
VANCOUVER, BC, CANADA (December 22nd, 2021) – Victory Resources Corporation (CSE:
VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that
the Company has completed an extensive IP survey on its Mal-Wen project, located in south -
central British Columbia, within the eastern belt of the Nicola Group.
The 45 km (approximate) IP survey, announced in November, has been completed, over the Mal-
Wen Property. Preliminary results from the northern part of the grid indicate that two significant IP
anomalies occur about 600 to 900 m east of the Mal Prospect (Figure 1). The Mal East and Far
East anomalies form linear chargeability / resistivity highs about 600 m long in a north -south
direction.
Figure 1 – Mal East and Far East IP anomalies.
The Mal East and Far East anomalies are similar in nature, though larger and stronger than that
seen in the vicinity of the Mal Prospect (Figure 2). The Mal East and Far East anomalies occur
in an area with little outcrop that is largely covered with silt or till.
Figure 2 – Line 3 Pseudo Section
The Mal Prospect features erratic Au and Cu mineralization associated with epidote-carbonate
alteration and minor pyrite. Several drill programs have been carried out over the Mal Prospect,
with the best reported results being 0.5 g/t Au over 8.8 m and 1.6% Cu over 6 m (true widths
unknown). A 500 m drill program is proposed to test the Mal East and far East anomalies. More
drilling may be recommended depending on the IP results from the southern half of the grid,
which covers the Wen Prospect.
Additionally, Victory Resources announces that it has abandoned the Loner property in Nevada
and terminated its agreement with Silver Range Resources Ltd., removing the obligation for any
further payments to Silver Range. The Loner Property was initially acquired on the strength of
the hypothesis put forward by Silver Range, based on soil sampling, that there could be
significant mineralization adjacent to and between the known veins. Drilling encountered both
narrow, erratic high grade Au mineralization similar to that seen in the workings, and larger
zones of alteration that locally featured subeconomic Au grades. The location and grade of
these zones appears to explain the soil anomalies. The veins and alteration zones are too small
and/or low grade to be of economic interest, and there is little evidence of them being related to
a larger zone.
“Victory leadership has determined that the Company’s resources should be allocated to the
potential that exists with Smokey Lithium and Mal-Wen, versus devoting a further portion of
time, expertise and capital to further exploration on Loner,” said Mr. Mark Ireton, Victory
President and CEO. “In addition, the Company is seeking and evaluating additional properties,
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
especially those indicating lithium and related battery minerals.”
The Company also announces that Mr. David Deering’s term as Director has completed, and
thanks Mr. Deering for all of his efforts on Victory’s behalf, wishing him the best in his future
endeavours.
About The Mal-Wen Exploration Property
The Mal-Wen Property consists of 7 mineral claims with a total area of 1205.97 hectares that is
located about 30 km southeast of Merritt in south-central British Columbia. The Mal-Wen
Property is within the eastern belt of the Nicola Group, in south-central BC, which hosts
numerous alkalic porphyry deposits, including the presently producing New Afton Mine and past
producers Ajax and Copper Mountain. The Mal and Wen Prospects may be peripheral
expressions of a larger mineralized system that is mostly covered by overburden. Only the very
northern part of this area has been covered by previous IP surveys (i.e., the area of the east Mal
IP anomaly). An IP survey is proposed over the area between the Mal and Wen Prospects.
Targets generated by the IP survey would then be drilled.
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.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: [email protected]
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.
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