Victory Ventures Stakes Telegraph Creek Claims, Northwest BC
TSX VENTURE EXCHANGE: VVN FRANKFURT: VV0 JULY 23, 2013
VICTORY VENTURES STAKES TELEGRAPH CREEK CLAIMS, NORTHWEST BC
Victory Ventures Inc. (the “Company”) is pleased to announce the recent staking of two mineral claims in the Telegraph Creek area of Northwest British Columbia.
The two claims, named Victory 1 and Victory 2, totaling 1733.5 hectares, are located approximately 55 kilometres northwest of Telegraph Creek and adjoin the northwest boundary of the Grizzly property held by Garibaldi Resources Corp.
The Grizzly and nearby Kid showings (Minfile 104J016) are early stage alkalic copper/gold porphyry prospects localized within the same rock units that host Nova Gold's Galore Creek deposit 120 kilometres to the south. The Victory claims and Grizzly property lie within the Stikine Arch, which hosts multiple bulk tonnage porphyry copper/gold deposits, such as Red Chris and Schaft Creek.
The Victory claims are also located approximately 12 kilometers west of the exciting exploration play being carried out by Firesteel Resources Inc. on their highly prospective Copper Creek property. During the late 1960’s and early 1970’s Skyline Explorations Ltd. explored the areacovered by the present Copper Creek Area and began evaluating the Pyrrhotite Creek and Copper Creek prospects. Preliminary drilling was completed at both prospects and reportedly intersected 113 meters grading 0.35% copper at Pyrrhotite Creek and 44meters averaging 0.43% copper at Copper Creek.
In order to accelerate the development of the Copper Creek property, on May 7, 2013 Firesteel signed a Letter of Intent with Prosper Gold for an option to acquire 80% of the Copper Creek Property. Under the terms of the letter of intent, Prosper will spend $5,000,000 in exploration over a four year period, provide 1,000,000 Prosper Gold shares and pay $1,000,000 in cash to acquire 80% of the property.
Victory Ventures recognizes the exploration potential of the Victory claims as well as the adjacent Grizzly property. The new Victory 1 and Victory 2 claims are underlain by similar Stuhini Group rocks of Upper Triassic age as found on the Grizzly property, typically porphyritic volcanic flows with lesser tuffs and tuffaceous siltstones. The Victory claims lie within 2 to 3 kilometers west of the Grizzly and nearby Kid mineral copper‐gold showings near the western boundary of the Triassic age Kaketsa Pluton, which measures approximately 4 km by 5.6 km in surface extent. Both the Grizzly and Kid showings are intimately associated with a north to northwesterly satellitic tongue of the main body of the Kaketsa pluton, with possible extensions onto the Victory claims.
In 1988 Corona Corporation acquired the ground around the Grizzly Prospect and completed prospecting, rock sampling and a much more extensive soil geochemical survey (1,307 soil sample sites) than that originally completed by Kennecott. In addition Corona reported 84 rock sample assays. Corona’s exploration work confirmed that significant gold values are associated with the observed mineralization (approximately 50% of the rock samples returned values ranging from 0.1% to more than 1.0% copper and from 0.1 to more than 1.0 g/t gold). The geochemical survey completed by Corona in 1989 defined several copper and gold geochemical anomalies which are similar in amplitude to the soil geochemical anomalies reported by Firesteel on the Copper Creek property, but do not appear to have been adequately tested by the limited drill program (3 holes) completed in the 1970’s.
In 2006, a portion of the Grizzly property had an airborne magnetic survey carried out and also covered the adjacent Copper Creek property, but did not extend as far west as the Grizzly‐Kid prospect area. Results of the airborne magnetic survey showed that the rock units and structures which underlie the Copper Creek prospects appear to continue into the large area of low relief within the Garibaldi claims, the South Target, and identified ‐ 2 –
several magnetic anomalies, which are similar to the magnetic anomalies that are associated with the mineralized zones which comprise the Copper Creek Property.
Victory Ventures Inc. is pleased to have secured a prospective land position as part of a new and exciting exploration play in the northern part of British Columbia and will be making plans to carry out an early geological assessment of the new Victory property.
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.