Victory Provides Updates ON Potential FOR Larger System with Loner Property, Additional Claims Staked
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY PROVIDES UPDATES ON POTENTIAL FOR LARGER
SYSTEM WITH LONER PROPERTY, ADDITIONAL CLAIMS STAKED
• Guided by Extensive Mapping, Sampling and Drilling, Victory’s Exploration Team
Re-Evaluating Loner Property as Indications Suggest Possibility for Larger
System
• Extensive Mapping and Sampling 1 km North of Drill Program Result in Grab
Samples containing over 1000 ppm silver
• Company has now staked and confirmed additional claims
VANCOUVER, BC, CANADA (September 1st, 2021) – Victory Resources Corporation (CSE:
VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that
after extensive mapping, sampling and drilling on the Loner Property in Nevada, the Company ’s
exploration team has staked 8 additional claims and is re-evaluating the system, which it believes
could be larger than previously understood.
“Our exploration team has worked extensively on Loner, and results have led us to stake
additional claims, which are now secured, allowing us to provide a thorough update to
shareholders on the activity and findings,” said Mr. Mark Ireton, Victory CEO.
Additional Claims and Results Highlights
In early July, a mapping project was conducted approximately 1 km to the north of the Loner drill-
program in Pershing County, Nevada. Land was staked after two “grab” samples of mineralized
rock were shown to contain over 1000 ppm silver. This most recent project lasted 9 days and
resulted in the collection of 18 rock samples, 85 soil samples, and a generalized geologic map of
the newly staked property. Field observations and current data indicate a larger system than
previously thought.
Drill Program Highlights
As previously outlined, the drill program was designed to accomplish two goals. First, it was
intended to better characterize the mineralization exposed in the known workings. Second, drilling
was intended to evaluate the 200m to 300m wide zone of anomalous soils identified by Silver
Range Resources through principal component analysis.
496 meters of core were drilled in the granite on the southwestern block of the Loner property.
Ten holes were drilled 50° SW to find subsurface veins similar to the previously worked areas
nearby. Cores contained trace sulfides and quartz veining, but lab results showed anomalous gold
throughout the granite adjacent to workings with erratic high-grade gold (up to 0.5 g/ton) in granite-
hosted quartz veins. Samples also returned elevated values of arsenic (up 1640 ppm).
Outcomes
The Loner property was previously thought to be a local epithermal gold deposit, but the size and
complexity of hydrothermal activity has led to a re-evaluation of the system. This system could be
larger than previously thought if a relationship can be e stablished between the silver -bearing
sandstone and proximal gold-bearing granite. Assays of the soils and rocks collected throughout
the property will reveal more information about the system. Results are expected within a month.
___________________________
Detailed Exploration Report
In May, 496 meters of core were drilled in the granite on the southwestern block of the Loner
property. Historic workings at Loner targeted the narrow erratically mineralized gold-bearing quartz
veins. Ten holes were drilled 50° SW to find subsurface veins similar to the previously worked areas
nearby. Cores contained trace sulfides and quartz veining and lab results showed anomalous gold
throughout the granite adjacent to workings with erratic high-grade gold (up to 15.7 g/ton over a 50
cm section) in granite -hosted quartz veins. Samples also returned elevated values of arsenic (up
1640 ppm). The lack of silver or any other mineralization supported the original hypothesis that the
granite was low of the system.
In early July, a mapping project was conducted approximately 1 km to the north of the Loner drill -
program in Pershing County, Nevada. Land was staked after two “grab” samples of mineralized
rock were shown to contain over 1000 ppm silver. This most recent project laste d 9 days and
resulted in the collection of 18 rock samples, 85 soil samples, and a generalized geologic map of
the newly staked property. Field observations and current data indicate a larger system than
previously thought.
The newly staked Loner property is comprised of arkosic sandstone, quartzite, intrusives, and
alluvium (fig. 1). Previous geologic maps have labeled these outcrops as the Cambrian -aged
Harmony Formation and Cretaceous -aged intrusive group. All abandoned shafts on the property
have only t argeted the scarce mineralization exposed on the surface of the granite, but there is
significantly more alteration present in the sandstone. Alteration is bounded by a thrust fault on the
west and an unidentified contact between the granite and sandstone on the east.
The two hand -samples that contained over 1000 ppm silver have other anomalous geochemical
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
characteristics. While the rocks were collected from “float” the source has been identified as the
altered arkosic sandstone outcrop. Hand samples contai n elevated concentrations of arsenic,
copper, lead, and antimony relative to drill-core samples in the southwestern corner of the property.
Hand-samples contained ~200 ppm copper, ~3000 ppm lead, and ~650 ppm antimony. Arsenic
and sulfur concentrations mat ch values present in cores collected adjacent to the historical
workings.
Figure 1. Generalized geologic map of the newly acquired Loner property.
The medium-grained, clast-supported, arkosic sandstone is in contact with the Cretaceous
intrusive show’s signs of structural and hydrothermal alteration. Sandstone beds are oriented
140° southeast and have a near vertical (70-90°) southwest dip. This orientation is similar to the
historical workings along mineralized faults in the nearby granite. The largest zone of alteration is
approximately 250 m wide with 3-6 m wide exposed outcrops. In the exposed outcrops there is
significant hydrothermal alteration. Sulfides have replaced biotite, feldspar clasts have altered to
an unidentified orange-green mineral, 1-2 mm pyrites and arsenopyrites have grown in dense
clusters, terminated quartz crystals (1 mm) appear in banded quartzite layers (5 -10 cm) with a
colloform/comb texture, and rocks are stained with hematite, manganese, and limonite.
After an initial mapping of the area, rocks and soils were collected for analysis. Five soil survey
lines were oriented east -west and spanned 250 -500 m to cover the entire mineralized zone and
unaltered formations. Samples were collected in 25 m intervals at 5 cm depth due to the lack of soil
development on exposed outcrops. Soils could be broadly classified as moderately sorted sand
and silt with minor clay content; colors range from yellowish/orange to light/brown. Soil samples
were sent to ALS for aqua regia digestion and ICP-MS analysis. Rock chip samples were collected
in 2 m sections across mineralized outcrops and sent to ALS to be analyzed for gold and base
metals by fire assay and four -acid digestion, respectively. Due to the subtle transition from
monzonitic granite to ark osic sandstone some rocks were collected for possible thin -section
petrographic analyses.
The Loner property was previously thought to be a local epithermal gold deposit, but the size and
complexity of hydrothermal activity has led to a re -evaluation of the system. This system could be
larger than previously thought if a relationship can be established between the silver -bearing
sandstone and proximal gold -bearing granite. Assays of the soils and rocks collected throughout
the property will reveal more information about the system.
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.
About the Loner Property:
The Loner Property is located 35 km south of Winnemucca in the southern Sonoma Range and
currently consists of 16 Federal Lode Claims covering historic workings and exposed low -
sulphidation gold mineralization. Recent exploration in the area includes the Goldbanks Project,
an epithermal gold project about 12 miles to the south, and the Coronado VMS Project, which has
been exploring for Cu on a property about 6 miles to the southeast of the Loner Property. The
area of the Loner Property is prospective for both these styles of mineralization. Victory Resources
has optioned the Loner Property from Silver Range Resources (TSX-V: SNG) (“Silver Range”) as
announced on 23 December 2020.
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.
Forward Looking Statements
Certain information set forth in this news release may contain forward -looking statements that involve
substantial known and unknown risks and uncertainties. All statements other than statements of historical
fact are forward -looking statements, including, without limitation, statements regarding future financial
position, business strategy, use of proceeds, corporate vision, proposed acquis itions, partnerships, joint -
ventures and strategic alliances and co -operations, budgets, cost and plans and objectives of or involving
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known and unknown risks, uncertainties and other factors may cause the actual results or performance to
materially differ from any future results or performance expressed or implied by the forward -looking
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
information. These forward-looking statements are subject to numerous risks and uncertainties, certain of
which are beyond the control of the Company including, but not limited to, the impact of general economic
conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the
assumptions used in the preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward -
looking statements. The Company does no t assume any obligation to update or revise its forward -looking
statements, whether as a result of new information, future events, or otherwise, except as required by
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