Pdl Property Exploration Update; Resignation of President
TSX VENTURE EXCHANGE: VVN FRANKFURT: VV0 OCTOBER 6, 2014
PDL PROPERTY EXPLORATION UPDATE; RESIGNATION OF PRESIDENT
Victory Ventures Inc. (the “Company”) wishes to report on a recent soil sampling program carried out on the Company’s PDL mineral property, located north of Keremeos, BC. The sampling work was carried out on the Astro alteration zone located on the eastern side of the PDL property.
The soil sampling program was a follow‐up survey on previous soil sampling carried out earlier this year on the Astro alteration zone, where one soil sample returned a strongly anomalous gold value of 76.4 ppb gold. The most recent soil sampling program was carried out in the immediate vicinity of the 76.4 ppb gold soil sample, with the most recent soil samples taken along three short lines spaced 20 metres apart, with samples taken every 10 metres apart.
A total of 18 soil samples were taken for analysis by Acme Labs of Vancouver, BC. The recent soil sampling program did not return economically significant values in gold, with values up to 9.2 ppb gold. One rock sample taken along the southernmost soil sampling line returned a value of 5.5 ppb gold.
The Company recognizes that it has not located any indicated areas of prospective surface mineralization during its recent sampling work at the Astro zone, but also recognizes that only a very minimal amount of work has been carried out at the Astro zone or on the remaining areas of the PDL property. As has been pointed out by previous operators on the property area (QPX Minerals Inc.), the main potential for locating promising mineral concentrations on the PDL property would be in areas of faulting at depth at or near the contact with basement Shoemaker cherts and the overlying Tertiary age Shoemaker conglomerates. As this contact is not present on surface at the Astro zone, geophysical surveys need to be carried out with anomalies to be ultimately tested by follow‐up diamond drilling.
In 1988, QPX Minerals Inc. had a combined Magnetic and VLF‐EM survey carried out on the Astro zone by Lloyd Geophysics. That survey located three well‐defined open‐ended conductive anomalies that coincided well with magnetic low anomalies. Trenching work and shallow percussion drilling was carried out by QPX Minerals over a small strike length of the westernmost anomaly, however other portions of the westernmost anomaly as well as the other two anomalies were recommended for further exploration work, but further work was not carried out by QPX Minerals.
At this point of exploration by the Company, it is recommended that a further confirmatory combined magnetometer‐VLF‐EM survey be carried out in the area of the historic surveys carried out by Lloyd Geophysics in 1988. If similar anomalous zones are found in the modern surveys, drill targets can then be established.
The Company also wishes to announce that Dennis Vigouret has agreed to resign as President of the Company. Howard Milne, the non‐executive Chairman and a director of the Company, has been appointed Interim President.
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Qualified Person
Mr. Greg Thomson, P.Geo. is the Qualified Person as defined by National Instrument 43‐101. Mr. Thomson is a director for the Company and has reviewed and approved the technical information contained in this news release.
On behalf of the Board of Directors: For more information please contact:
Tel: (604) 377‐8994
“Howard Milne” Email: [email protected]
Director Website: www.victoryventures.ca
Victory Ventures Inc. is a Canadian‐based junior mining exploration company focused on the procurement, exploration and development of precious metal properties in North America. The Company’s shares are listed and posted for trading on the TSX Venture Exchange under the symbol "VVN" and on the Frankfurt Exchange under the symbol “VV0”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.