Victory Resources Corp. Announces Completion of Initial Scoping Survey in Spain for Cobalt Permits
Vancouver, BC (FSCwire) - Victory Resources Corp., (TSX – V:VR) (FWB: VR61) (OTC: VRCFF) ("Victory" or the "Company") further to its announcement of April 9th, 2018, has completed its initial scoping survey of Cobalt prospects in Almeria and Granda provinces in southern Spain. In connection with the surface grab samples the Company has engaged SGS to complete a multi-element chemical assay characterization, quantitative modal mineral abundance by QEMSCAN and an elemental deportment based on theoretical chemistries.
The mineralization is enriched in several elements (Co-Ni-Ag-Se-As-Hg-Mn) that entry into the category of RSE (redox-sensitive elements). The mineralization is stratified with high TOC dolomites affected by thrusts, a Mississippi Valley-type origin can be extrapolated for this deposit, with the origin of the metals in the washing of marine series or from the mafic intercalations into the series, with the carbonate/dolomite formations as a “reducing trap” for mineralization.
“We are very encouraged by the initial scoping survey results, which provides us with a significant milestone, accelerating both our short and long-term goals to expand our search for worldwide battery mineral assets,” said Mr. David Lane, President and CEO, Victory Resources Corporation.
There are historic geochemistry data that shows that there is an anomaly in the area of the project, especially in Cu, Co and Ni divided in seven sectors. This data was collected by way of whole-rock geochemistry in surface samples:
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This type of deposit can be very widespread in Betica, and could also concentrate elements of the platinum group. It appears to be quite similar to the D.R.C. mineralizations.
Spain has one of Europe´s most diversified mining sectors, which produces mostly industrial minerals and stone. Spain encompasses almost 90% of the Iberian Peninsula which is considered to be the most mineralized zone in the European Union.
The technical information contained in this news release has been reviewed and approved by Daniel Porras, Dipl.-Geol, member European Federation of Geologists (“EFG”) who is a Qualified Person as defined under National Instrument 43-101.
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (TSX – V:VR) (FWB: VR61) (OTC: VRCFF) is a publicly traded junior international mining corporation with interests in North America, Europe and Africa. The Company is currently developing its existing operation in South Central British Columbia, as well as scoping green energy mineral permits in Europe and Africa.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Source: Victory Resources Corporation (TSX Venture:VR, FWB:VR61)
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