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.
Victory Ventures recently acquired the PDL mineral property, located in the Keremeos-Olalla region of southern British Columbia. Under the terms of the Agreement and subject to regulatory approval, the Company has agreed to pay to the Vendor $2,500 cash and issue 300,000 common shares. The Vendor shall retain a 2% net smelter return ("NSR") of which each one-half percent of the NSR may be purchasable by the Company at its discretion for a payment of $500,000.
The PDL property has a recent 43-101 Technical Report, which will be filed with the TSX Venture Exchange and posted on SEDAR upon receipt of regulatory approval to the acquisition.
The Company intends to investigate the epithermal-style gold-silver potential of the Astro zone located on the east side of the PDL property, last explored by QPX Minerals Inc. in 1989. In 2003, A. Travis staked the Astro 1-6 claims to cover the Astro 34 claim area and completed prospecting with minor rock and soil sampling.
The PDL property has not seen any recent exploration and early exploration was mainly carried out on the western side of the current property area by Placer Dome Development Ltd. in 1984-85 and by QPX Minerals Inc. in 1987-89. The earlier exploration work on the west side of the PDL property was carried out in the vicinity of an old (1930's?) short adit (about 10 m long), which cross-cuts a small massive sulphide lens, carrying anomalous gold and copper values. Narrow pyrite-arsenopyrite stringers containing locally high grade gold values are known on the west side of the PDL property, but do not present a viable exploration target. From this area, grab sample PDL-556 in 1987, yielded 30.3 grams per tonne gold, 22.5 grams per tonne silver, 0.25 per cent copper, 0.14 per cent lead, 0.57 per cent zinc and 3.74 per cent arsenic (Assessment Report 16674).
Following the discovery of a new argillic +/-silica alteration zone in 1988, QPX Minerals Inc. conducted a preliminary exploration program on the previous Astro 34 claim, located on the eastern portion of the current PDL claim.
At the Astro zone, magnetometer and VLF-EM surveys were carried out on 25-50 metre-spaced east-west lines over an area of 400 metres by 400 metres. Three very well defined conductive north-south lineaments with corresponding magnetic lows were identified, which were later tested by a limited program of trenching and reverse-circulation drilling over a small (50 metres by 100 metres) portion of the westernmost of the three linear anomalies.
Five reverse-circulation drillholes totalling approximately 250 metres and five trenches totalling 150 metres were completed on the Astro 34 claim. Trenching in 1988 was successful in exposing a zone of silicified and argillically altered volcanics up to 20 metres in width over a strike length of 140 metres, which remains open. Anomalous gold values were returned from this work and recommendations included the future use of a larger backhoe to carry out further trenching.
Anomalous gold (up to 0.705 gram per tonne), silver (up to 14.8 grams per tonne) and molybdenum (up to 0.15 per cent) were returned over 3 metre sections from reverse-circulation drillhole PDL-89-RC-2. These anomalous values were found associated with chalcedonic veinlets in argillically altered Kitley Member volcanics of the Marron Formation. Reverse circulation drilling demonstrated that the alteration extended to a depth of 47 metres below surface at which point there was no evidence of a decrease in the strength or size of the alteration system.
This previous work has now laid the groundwork to quickly and efficiently build upon the work of 25 years ago, that has never been followed up. Exploration successes at the nearby Dusty Mac and Vault Projects, located to the east of the PDL property, bode well for renewed exploration of the PDL-Astro mineral zone. A model for the epithermal style of mineralization found on the PDL property can also be found in several of the gold deposits found within the Republic District of northeastern Washington State. These deposits include the Republic Mine and the Kettle River Project (operated by Kinross Gold), which includes the Kettle, K-2, Lamefoot and Overlook mines.
The Republic District has accounted for roughly five million ounces of gold production over the last century and contains some of the highest-grade, bulk-tonnage gold deposits in the United States. In geology, a graben is a depressed block of land bordered by parallel fault structures. Epithermal gold deposits are found in and around these fault structures, which are believed to extend northward into British Columbia, including the area of the PDL property.
It is the intention of Victory Ventures to more fully evaluate the mineral potential of the Astro mineral/alteration zone through immediate further geological mapping, prospecting and sampling in areas of promising rock alteration or geophysical anomalies. It is anticipated that further exploration will lead to testing of the depth potential of the Astro zone through IP surveys and with encouragement, a follow-up diamond drill program.
Victory Ventures Inc. has acquired two mineral claims, located in the Unuk River area of Northern British Columbia, approximately 50 kilometres northwest of the port of Stewart, B.C. The newly named Venture property lies within a mineral-endowed region of British Columbia referred to as the Golden Triangle, containing significant mineral deposits, such as the Granduc mine and the Eskay Creek mine, as well as the predevelopment-stage KSM gold-copper porphyry deposit of Seabridge Gold and the Brucejack (Valley of the Kings) high-grade gold deposit of Pretium Resources.
The claims, numbered 1032869 and 1032912 (totalling 197.4 hectares), were acquired from a vendor for a total of $1,000 cash and a 2-per-cent net smelter return, of which 1 per cent of the NSR may be purchasable by the company at its discretion for a payment of $500,000. The claims are located in alpine terrain with steep valley sides with abundant and glacial cover. The general property area is underlain by the Upper Triassic-age Stuhinni group, consisting mainly of metavolcanic rocks, locally intruded by granitoid rocks of the Coast Intrusive complex.
The claims were originally staked as they lie along the possible northwest extension of previously recognized polymetallic quartz vein mineralization, recently discovered (2011 to 2013) on the adjoining Quinn-Eskay property. The Quinn-Eskay mineral zone lies east and within one kilometre of the newly acquired Venture property claims. During a 2013 rock sampling program (32 samples) by Cache Minerals Inc., the two most encouraging samples from the Quinn-Eskay showing area included 8.18 grams per tonne gold and 32.6 g/t Au. The latter, which also included 285 g/t silver, 0.30 per cent copper, 0.56 per cent lead and 0.16 per cent antimony, represents the most strongly known mineralized sample from the Quinn-Eskay property, to date.
The Doc property, located approximately two kilometres to the northeast of Victory's newly acquired claims, received extensive exploration work in the 1980s, culminating in underground development work and diamond drilling in 1988 by Echo Bay Mines Ltd. The Echo Bay exploration program was concentrated on two main veins (Q-17 and Q-22), resulting in a combined resource of 91,490 tonnes grading 8.85 g/t Au (non-NI 43-101 compliant).
The company has no present exploration plans for the Venture property, but an initial prospecting and sampling program of exposed bedrock is recommended, particularly in areas of bedrock recently exposed by glacial ice recession.
The regional association within the Stewart mining district and the presence of nearby significant mineral deposits such as Granduc, Doc, Premier, Brucejack/Valley of the Kings, Eskay Creek, Scottie, Silver Coin, Sulphurets, Quinn-Eskay and more -- all of which are located within 50 km of the new property -- demonstrate the exploration potential of the new claim acquisition. The prospect of identifying a significant gold-silver-polymetallic deposit appears quite possible.
Victory Ventures Inc., 2138 Nanton Avenue, Vancouver, BC V6L3C7
Tel: 604-377-8994 | Fax: 604-687-4778 | Email: click here