Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) has said it is poised to begin drilling its Loner property in Nevada, USA once a permit is received.
Planned are between seven and ten diamond drill holes for a short-hole 500 metre (m) program and a contractor has been hired.
READ: Victory Resources conducts reconnaissance at Loner project in Nevada ahead of potential drilling
"As previously noted, Loner is a promising property," said the company's vice-president of exploration, David Deering, in a statement.
"Our efforts have been extensive since acquiring the option in December and with this announcement our team is in place and prepared to accelerate exploration activities with the launch of our 2021 work program once the permit is received.
"Loner gives Victory year-round exploration access in a zone within Nevada that is in the vicinity of Goldbanks, an area where Barrick, Kinross and Premier have interests."
The aim of the drilling will be to better characterize mineralization in known workings and to evaluate the 200m to 300m wide zone of anomalous soils, which were identified by Silver Range Resources.
As reported earlier this month, reconnaissance work at the property has established no serious difficulties are expected with the work.
As reported before Christmas, the company struck an option deal with Silver Range Resources Ltd (CVE:SNG) (OTCMKTS:SLRRF) (FRA:8SR) over the asset, which comprises 16 claims covering historic workings and exposed gold mineralization.
Victory can acquire an 80% interest in the asset over four years by paying to Silver Range U$140,000 in cash and U$260,000 in cash and shares.
Contact the author at giles@proactiveinvestors.com