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 Companys
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.
In early July, a mapping project was conducted approximately 1 km to the north of the Loner drillprogram 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.
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 granitehosted 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 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. Results are expected within a month.
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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 drillprogram 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.
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 targeted 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 contain 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 match 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 shows 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 arkosic 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 lowsulphidation 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: IR@victoryresourcescorp.com