News Release
Further Drill Results at Cove-McCoy Project, Nevada
Vancouver, May 30, 2007 - Victoria Resource Corporation (TSX-V: VIT) ("Victoria" or the "Company"), is pleased to announce additional high-grade results at its NW-Cove target area at Cove-McCoy in north-central Nevada. NW-4 is completed and carries the following significant intervals.
Hole NW-4 Cove-McCoy Project, NW-Cove target area
From |
To |
Feet |
Meters |
Gold in opt |
Gold in ppm |
1369 |
1380 |
11 |
3.35 |
0.28 |
9.61 |
1404 |
1409 |
5 |
1.52 |
0.32 |
10.90 |
1425* |
1530* |
105* |
32.00* |
0.06* |
2.03* |
1768 |
1773 |
5 |
1.52 |
0.09 |
3.02 |
1858 |
1873 |
15 |
4.57 |
0.14 |
4.77 |
1925.5* |
1993* |
67.5* |
20.57* |
0.18* |
6.16* |
Incl: 1947 |
1993 |
46 |
14.02 |
0.24 |
8.16 |
Incl: 1952 |
1957 |
5 |
1.52 |
0.75 |
25.58 |
2078* |
2115* |
37* |
11.28* |
0.10* |
3.27* |
2144* |
2180* |
36* |
10.97* |
0.06* |
1.90* |
* A generalized cut-off of 500 ppb for these intervals. All other intervals used an approximate 3 grams per tonne ("g/t") cut-off.
Victoria's initial three-hole program was designed to test the geometry of a major intersection zone projected at depths sufficient to intercept the Favret Formation. The Favret consists of a series of limestones that are deemed by Victoria's Nevada exploration team to be the best host-rocks in the district. NW-1 hit the intersection zone demonstrating the high-grade nature of the gold system and was followed by NW-2A and NW-3, both of which passed under the intersection zone, which data indicated, trended S6°W and plunges 70°-85°SW. This program successfully outlined the preliminary geometry of this intersection zone and therefore, three additional holes were designed and are being drilled to further refine this geometry.
Because deep drilling requires a significant amount of time, the results of NW-4 are herein included to provide current information about Victoria's understanding of the geometry of the gold system. After the first three holes, it was determined that the intersection zone trended S1°W, and plunged about 70°-75°SW. NW-4 (N4°E, -55°) was designed to cut across this intersection zone. Using down hole surveying the position of NW-4 deviated approximately 146 feet west of and about 100 feet below the high-grade zone in NW-1. NW-4 demonstrates that the system requires additional drilling to better define the geometry of the better grades of the intersection zone, but that the geometry is roughly holding together. Two following holes, NW-5 and NW-6 will be drilled to help define the general geometry of the gold system. Once completed, a more definitive drilling program will be planned to further test the extent of high-grade gold intercepts as a function of the geometry of the intersection zone, especially down and up plunge.
The majority of the high-grade intercepts in NW-4 occur again within the Favret Formation and thus this host rock will remain the focus of future exploration, although the up-plunge portions of the intersection zones may be found in units above the Favret. The significance of the Favret as a host rock is that, as a host rock, it has not been extensively explored in the past. It underlies most of the McCoy-Cove Mining District and, as such, will continue to be the focus of Victoria's exploratory efforts.
All results contained in this news release have been validated by a Quality Control Program ("QC"), which has been designed in concert with an independent consultant to meet or exceed the requirements of N1 43-101. This QC program includes the use of certified standard reference samples, coarse field blank material and duplicate sampling. The qualified person for Victoria under National Instrument 43-101 is Tom Garagan, P.Geo. Raul Madrid is responsible for on site field activities.
On Behalf of VICTORIA RESOURCE CORPORATION
"Roger T. Richer"
President and Director
To speak to a representative of the Company please contact:
Ian MacLean
Vice President, Investor Relations
(604) 681-8371
Kerry Suffolk
Manager, Investor Relations
(604) 681-8371 |
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The TSX Venture Exchange neither approves nor disapproves the information contained in this News Release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.