Acquisition of Mineral Claims, Stewart, British Columbia
TSX VENTURE EXCHANGE: VVN FRANKFURT: VV0 JANUARY 6, 2015
ACQUISITION OF MINERAL CLAIMS, STEWART, BRITISH COLUMBIA
Victory Ventures Inc. (the “Company”) is pleased to report on the recent acquisition of two mineral claims, located in the Unuk River area of northern British Columbia, approximately 50 kilometres northwest of the port of Stewart, BC. The newly named Venture property (the “Claims”) lie within a mineral‐endowed region of British Columbia referred to as the “Golden Triangle” containing significant mineral deposits such as the Granduc Mine, Eskay Creek Mine as well as the pre‐development stage Seabridge Gold’s KSM gold copper porphyry deposit and Pretium Resources’ Brucejack (Valley of the Kings) high‐grade gold deposit.
The Claims, numbered 1032869 and 1032912 (totaling 197.4 hectares), were acquired from a vendor for a total of $1,000 cash and a 2% net smelter return (“NSR”), of which 1% percent of the NSR may be purchasable by the Company at its discretion for a payment of $500,000. The Claims are located in alpine terrain with steep valley sides with abundant and glacial cover. The general property area is underlain by Upper Triassic age Stuhinni Group consisting mainly of meta‐volcanic rocks, locally intruded by granitoid rocks of the Coast Intrusive Complex.
The Claims were originally staked as they lie along the possible northwest extension of previously recognized polymetallic quartz vein mineralization, recently discovered (2011‐2013) on the adjoining Quinn‐Eskay property. The Quinn‐Eskay mineral zone lies east and within one kilometre of the newly acquired Venture property claims. During a 2013 rock sampling program (32 samples) by Cache Minerals Inc., the two most encouraging samples from the Quinn‐Eskay showing area included bedrock sample 13‐QECG‐07 and sample 13‐QECG‐10, which contained 8.18 g/t Au and 32.6 g/t Au, respectively. The latter, which also included 285 g/t Ag, 0.30% Cu, 0.56% Pb, and 0.16% Sb, represents the most strongly known mineralized sample from the Quinn‐Eskay property, to date.
The Doc property, located approximately 2 kilometres to the northeast of Victory’s newly acquired claims, received extensive exploration work in the 1980’s, culminating in underground development work and diamond drilling in 1988 by Echo Bay Mines Ltd. The Echo Bay exploration program was concentrated on two main veins (Q‐17, Q‐22), resulting in a combined resource of 91,490 tonnes grading 8.85 g/t Au (non‐NI‐43‐101 compliant).
The Company has no present exploration plans for the Venture property, but an initial prospecting and sampling program of exposed bedrock is recommended, particularly in areas of bedrock recently exposed by ongoing glacial ice recession.
Given the regional association within the Stewart Mining District and the presence of nearby significant mineral deposits such as Granduc, Doc, Premier, Brucejack/Valley of the Kings, Eskay Creek, Scottie, Silver Coin, Sulphurets, Quinn‐Eskay and more – all of which are located within 50 km of the new property, demonstrates the exploration potential of the new claim acquisition. The prospect of identifying a significant gold‐silver‐polymetallic deposit appears quite possible.
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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]
President 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.