Victory Resources Updates Current Mal-Wen Copper Project and Future Looking Strategy FOR GOLD, Silver and Precious Metals Exploration
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY RESOURCES UPDATES CURRENT MAL-WEN COPPER PROJECT AND
FUTURE LOOKING STRATEGY FOR GOLD, SILVER AND PRECIOUS METALS
EXPLORATION
VANCOUVER, BC, CANADA (August 7th, 2020) – Victory Resources Corporation (CSE: VR)
(FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that the
Company is developing a work program for its current Mal-Wen copper project in British
Columbia, and actively seeking new properties in the gold, silver and precious metals sector.
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. Key features of alkalic porphyry deposits
include:
• Alkalic porphyry deposits are attractive exploration targets, as they can form large Cu
deposits that are often enriched in Au relative to calc-alkalic porphyries
• They are often lower in sulphides, which reduces their environmental risk
• The BC Geological Survey has done considerable work in recent years evaluating this
belt for its alkalic porphyry potential
• The Mal-Wen property is prospective for this style of mineralization
“With the current strength of the prices in the mining sector, the Company is looking to
maximize existing value in The Mal-Wen Project in British Columbia,” said Mr. David Lane,
President and CEO, Victory Resources. “In addition, the climate is ideal for Victory to expand its
scope and interests with a concerted effort to identify and secure interests in prime gold, silver
and precious metals properties.”
About Mal-Wen
The Mal-Wen Property consists of 6 mineral claims with a total area of 1143.58 hectares that is located
about 30 km southeast of Merritt in south-central British Columbia.
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
There have been 6 drill programs and numerous geochemical and geophysical surveys on the Property
targeting various styles of Cu-Au mineralization. The drill programs focused narrowly on high grade
mineralization at the Mal and Wen Prospects, which give the property its name, with relatively little
work done elsewhere.
Four main types of mineralization have been identified on the property. The Wen Prospect vein is a
chalcopyrite bearing quartz vein with erratic, locally high gold values up to 16.6 g/t (Verley, 1997). It is
usually about 1 m thick, and grades between 0.5% and 1% Cu and under 1 g/t Au. A crude stockwork
of quartz-carbonate veins occurs to the east of the Wen Vein. These veins locally feature specular
hematite and/or chalcopyrite. They are hosted by fine grained, porphyritic gabbro. South of the
stockwork zone is an epidote-carbonate matrix hydrothermal breccia featuring spotty Cu mineralization
in the form of chalcopyrite. The clasts are usually basalt, though gabbro clasts have also been noted.
The breccia has been mapped at a number of locations to the south and north of the Wen Prospect
area.
The stockwork zone and the higher-grade part of the breccia body together form a poorly defined zone
of alteration and erratic mineralization at least 70 m wide and over 400 m in length (Kierans, 1972 &
Verley, 1996). The final type of mineralization, occurring at the Mal Prospect, is chalcopyrite bearing
epidote-garnet-magnetite skarn.
Recent work by Victory Resources has focused on the Cu bearing breccias and vein stockworks found in
the Wen Prospect area. Work to date has discovered anomalous hydrothermal breccias to the south of
the Wen Zone, but future work will be focused in the areas to the north and east of the Wen Zone,
which has seen little exploration.
Under board and management leadership, supported by Victory Geologist, Helgi Sigurgeirson,
the Company is actively seeking new gold, silver and precious metals projects throughout North
America.
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:
David Lane, President
Telephone: +1 (236) 317 2822
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 c ompany is also currently seeking other exploration
opportunities, preferably in Canada.
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.
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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. A ll 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 acquisitions, partnerships, joint-ventures and strategic alliances and
co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward -looking
information reflects management's current beliefs and is based on information currently available to managem ent.
Often, but not always, forward -looking statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims",
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identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be
taken, occur or be achieved. A number of 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 information. These forward -looking statements are subject to numerou s 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 assumpt ions 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 not assume any obligati on to update or revise its forward -looking
statements, whether as a result of new information, future events, or otherwise, except as required by securities
laws.