Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) has said it recently staked the Black Diablo property in Nevada, which is in close proximity to the company’s Loner Property.
Black Diablo is thought to host volcanogenic massive sulphide (VMS) copper deposits, as it is in the same belt of rocks as Nevada Sunrise Gold Corp’s Coronada VMS Project immediately to the south, according to Victory.
“Victory geologists identified the Black Diablo opportunity when they were on the ground in Nevada preparing to drill the Loner property,” Victory Resources CEO David Lane said in a statement.
Lane added: “We seized the opportunity to stake the claims in order to add Black Diablo to Victory’s portfolio, leveraging our crew and infrastructure as the Loner property is poised for drilling to begin.”
The company also noted that the Black Diablo property is situated 10 miles south of The Big Mike Copper Mine, which produced about 25 million pounds of copper in 100,000 tons of ore grading 10.5% copper.
It added that Black Diablo hosts the Black Diablo Manganese Oxide Mine, in which the United States Geological Survey (USGS) mineral resource data reported a sample containing 10,000 parts per million (ppm) copper that the company said may indicate the area is particularly prospective for Cyprus style VMS deposits such as the Big Mike.
Victory Resources is currently developing its existing projects including its recently-optioned Loner property, comprising 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.
Contact Sean at [email protected]
Story by ProactiveInvestors
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