Perhaps between their Lithium property, and now nickel and copper, they are going to start a battery company.... LOL.... LOL....
ORIGINAL: Victory Acquires 100% Interest in Saguenay Nickel Project
2022-04-27 07:00 ET - News Release
- Property consists of 5 claims totalling 286.32 ha, approximately 10 km south of Saguenay, Quebec
- Presence of ore grade Nickel - Copper samples at surface and in drill core
- Historic grab sample returned up to 3.41% Ni, 1.14% Cu, 1.2 ppm Ag and 0.13% Co
VANCOUVER, BC / ACCESSWIRE / April 27, 2022 / Victory Resources Corporation (CSE:VR) (FWB:VR61) (OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's has acquired 100% interest in the Saguenay Nickel Project in Quebec, a property with historic Nickel and Copper grab sample and drilling results.
"We are excited to add this property to the Victory portfolio, noting that our team has analyzed the historical grab sample and drill results, along with the overall Saguenay Gneiss Complex, and are very encouraged about the prospects for this acquisition," said Mr. Mark Ireton, Victory Resources President and CEO.
The claims are located approximately 10 km to the south of the town of Saguenay. The property is made up of 5 claims totalling 286.32 ha. It is underlain by mafic to ultramafic rocks enclosed in the Saguenay gneissic complex. A historic grab sample returned up to 3.41% Ni, 1.14% Cu, 1.2 ppm Ag and 0.13% Co. In 1959, 4 out of 7 holes drilled, on Victory Resources ground intersected gabbroic and peridotite rocks, hole number 4 returned 4 feet of 1.06% Nickel, and 0.21% copper, hole # 3intersected 10 feet averaging 0.49% Nickel and 0.03% copper, hole # 2 intersected 13 feet averaging 0.22% Nickel and 0.04% copper, and a fourth hole, the number 1 intersected 12 feet averaging 0.23% nickel and 0.06% copper and 3 feet averaging 0.38% nickel and 0.11% copper.
The four holes were drilled northwards to the outcrop area, with hole 4 intersecting zone as mapped in the historical report GM 08808.
The Saguenay Gneiss Complex has abundant mafic and ultramafic rocks and anorthosites, which are commonly associated with Ni-Cu-PGE sulfide deposits (e.g., Voisey's Bay, Labrador; Thompson, Manitoba). The presence of ore grade Ni-Cu samples at surface and in drill core on this property, and the absence of modern exploration is highly encouraging. A work plan for the 2022 field season will focus on detailed geological mapping, bedrock and till sampling across the property, to determine the scope of advanced exploration, and a potential drill program.
Terms of the Agreement for 100% are $10,000 and 2.5 million common shares payable on Regulatory and Exchange approval.