Victory Ventures Receives Positive Results from IP Survey on Copeau Property, Iskut, BC
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Victory Ventures Inc. (TSX VENTURE: VVN)(FRANKFURT: VV0) (the "Company") - The Company is pleased to announce that Frontier Geosciences of North Vancouver, BC has now submitted a report summarizing results of a recent induced polarization (IP) survey carried out on the Company's Copau claims located in the Iskut area of northwestern British Columbia (the "Claims").
The survey program was carried out by Frontier from July 10 to July 24, 2012 and consisted of 10 survey lines totaling approximately 11.5 kilometres of total coverage. The IP survey was carried out as a follow-up to the ground magnetic survey carried out in 2011 by Geolink Exploration Ltd. The Geolink survey located a pronounced northwest-southeast linear-trending magnetic anomaly throughout much of the claim area, now also covered by the Frontier IP survey.
The recent Frontier IP survey has located a strong chargeability response underlying the southwestern portion of the survey grid area. The chargeability anomaly occurs from depths of approximately 200 metres with increasing response to 450 metres, which was the maximum reading depth of the survey. The presently known extent of the anomaly varies between approximately 300-400 metres wide (E-W) and over 1200 m long (N-S), appearing open to both the west and south and at depth.
The overall chargeability anomaly, which is increasing with depth, is interpreted as being caused by increasing sulphide content within a southwest-dipping body of syenite rock. Rock outcrop samples containing traces of pyrite, chalcopyrite and magnetite in syenite were found during the survey work and their locations coincide with underlying IP chargeability responses.
The previously established magnetic anomaly lies somewhat offset to the northeast of the main area of IP chargeability response, possibly indicating a more magnetite-rich phase or zone as part of the main interpreted sulphide-bearing syenite host rock body.
The management of Victory Ventures is encouraged by the promising results arising from the recent IP survey on the Copau property and current plans are underway for a future diamond drill program to test and determine the cause of the strong and widespread IP anomaly. The timing for the drill program has yet to be finalized.
The Claims are partially surrounded by claims owned by Imperial Metals Corporation, which is developing the Red Chris copper-gold porphyry deposit for production, approximately 11 kilometers to the south. Imperial Metals' production start-up date is aimed to coincide with the completion of the Northwest Transmission Line in early 2014.
Greg Thomson, P. Geo., is the designated "qualified person" (within the meaning of National Instrument 43-101) responsible for the preparation of 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.
Contacts:
Victory Ventures Inc.
Howard Milne
Director
(604) 377-8994
hdmcap@shaw.ca
www.victoryventures.ca