Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) expects the rig to be readied for drilling on its Loner property in Nevada in the week of March 15, 2021, and barring weather related delays, drilling should be completed around mid-April this year.
"Victory Resources is currently mobilizing its crew and equipment to the Loner Property to begin a 500m drill program. The geologist will be on-site spotting holes and surveying sections beginning March 10th," the company said in a brief statement Wednesday.
READ: Victory Resources plans to begin its first drilling program in March on Loner Property in Nevada
This first pass program is aimed at confirming intersections of gold-bearing quartz vein that correlates with historical underground mining and mapped surficial gold occurrences.
It is anticipated it will also demonstrate broader mineralization across the width and depth of the occurrence which remains open in all directions, the company said.
The project comprises 16 claims covering historic workings and exposed low-sulphidation gold mineralization and lies 12 miles north of the Goldbanks project (current resources 557,000 ounces of gold). There are strong similarities between Loner and the Goldbanks deposit in terms of geological setting and style of mineralization found at each. Also, the Coronado VMS project is prospective for copper and lies six miles southeast of Loner.
Victory Resources said that the area of the Loner property is prospective for both these styles of mineralization.
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