Victory Ventures Stakes Telegraph Creek Claims, Northwest BC
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/23/13 -- Victory
Ventures Inc. (the "Company") (TSX VENTURE:VVN)(FRANKFURT:VV0) is
pleased to announce the recent staking of two mineral claims in the
Telegraph Creek area of Northwest British Columbia.
The two claims, named Victory 1 and Victory 2, totaling 1733.5
hectares, are located approximately 55 kilometres 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 kilometres 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 approximately 12 kilometers 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 areacovered 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 113 meters grading 0.35% copper at Pyrrhotite Creek and
44 meters averaging 0.43% copper at Copper Creek.
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 kilometers west of
the Grizzly and nearby Kid mineral copper-gold showings near the
western boundary of the Triassic age Kaketsa Pluton, which measures
approximately 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 (approximately 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.
Mr. Greg Thomson, P.Geo. is the Qualified Person as defined by
National Instrument 43-101. Mr. Thomson is a director for the Company
and has reviewed and approved the technical information contained in
this news release.
On behalf of the Board of Directors:
Howard Milne, Director
Victory Ventures Inc. is a Canadian-based junior mining exploration
company focused on the procurement, exploration and development of
precious metal properties in North America. The Company's Shares are
listed and posted for trading on the TSX Venture Exchange under the
symbol "VVN" and on the Frankfurt Exchange under the symbol "VV0".
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Victory Ventures Inc.
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