Short Hole Drill Program Completed At The Loner Property
VANCOUVER - Victory Resources Corporation reported that its exploration team has completed its short hole drill program on the Loner Property in Nevada. 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. Specifically, drilling focused on the area of Au in soil anomalies to the south and east of the main workings, and other areas were evaluated as well.
Loner Drill Program Details and Observations: Victory has completed a 10-hole, 496 meter drill program at the Loner Property, core samples have been assembled and submitted to ALS for analysis; The main purpose of the drilling was to test a gold in soil anomaly east of the southern workings; Drilling in that area encountered several zones of intensely altered (bleached and limonitic) granite cut by frequent quartz and/or limonite veinlets. Intersections of this style of alteration up to 5.9 m (within a 10.7 meter zone of less intense alteration and veining) were observed in drill core; and The preliminary interpretation is that these are sub horizontal zones of faulting and brecciation that are associated with the steeply dipping gold bearing zones seen in the workings - assays are pending.
If the assays indicate that these zones are gold bearing, it supports the hypothesis that the narrow steeply dipping zones described in the literature at the Loner are part of a larger gold bearing system. In this case, an expansion of the soil grid, trenching and more drilling would be recommended.
"From the time we optioned Loner in late December till now, the Victory team has accomplished a tremendous amount of work and we look forward to the assay results from this drill program, which will guide our next steps," said David Deering, VP Exploration.