Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) has received a drilling permit for its Loner property in Nevada and is now preparing for a 500 metre (m) short-hole program.
"The first pass drilling program at Loner Property is intended to confirm intersections of gold-bearing quartz vein that correlates with historical underground mining and mapped surficial gold occurrences," said David R. Deering, the vice-president of exploration and a director at the company.
"It is anticipated the drill program will demonstrate broader mineralization across the width and depth of the occurrence, which remains open in all directions."
He added: "This first-pass drilling work will evaluate the best and most productive way to continue bringing the project forward over the coming year."
The drilling is expected to start in March this year, subject to weather conditions, noted Victory.
Victory struck an option deal late last year with Silver Range Resources Ltd (CVE:SNG) (OTCMKTS:SLRRF) (FRA:8SR) over the Loner property, which comprises 16 claims covering historic workings and exposed low-sulphidation gold mineralization.
The Goldbanks epithermal gold project sits 12 miles to the south of Loner, and the Coronado VMS Project, prospective for copper and six miles to the southeast.
The area of the Loner property is prospective for both these styles of mineralization, it added.
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