Victory Ventures commenced a diamond drilling program June 2, 2013, at its highly prospective Copau Property in the heart of one of Canada’s most exciting and active exploration areas following the significant copper-gold drilling discovery announced by Colorado Resources in late April, 2013.
Victory optioned the Copau claims, totaling nearly 500 hectares, in December, 2011.
Two recently staked claims, named Victory 1 and Victory 2 totaling 1733.5 hectares, are located approx. 55 km 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 km 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 approx. 12 km 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 area covered 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 113m grading 0.35% copper at Pyrrhotite Creek and 44m averaging 0.43% copper at Copper Creek.
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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 km west of the Grizzly and nearby Kid mineral copper-gold showings near the western boundary of the Triassic age Kaketsa Pluton, which measures approx. 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 (approx. 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 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.
Victory Ventures Inc., 2138 Nanton Avenue, Vancouver, BC V6L3C7
Tel: 604-377-8994 | Fax: 604-687-4778 | Email: click here