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Victory Resources Corp.
Summary
| Project: | Mal-Wen | |
|---|---|---|
| Deposit: | Mal-Wen | |
| Location: | Canada | |
| Commodities: | Gold-Copper | |
| Date: | 3/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-3-2018: Victory Resources Corp. announces an Exploration/Drilling Update report for its Mal-Wen deposit at the Mal-Wen project. Technical report summarising previous exploration on property. The Mal-Wen Property is about 30 km southeast of Merritt, in | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Helgi Sigurgeirson (Independent) | |
| ABSTRACT: | The Mal-Wen Property is about 30 km southeast of Merritt, in south central British Columbia. The Property consists of 5 mineral claims with a total area of 2328.96 hectares. The claims are 100% owned by Victory Resources Corporation. The property is located within the Quesnel Terrane, which is composed of Paleozoic and Mesozoic arcs and is an important metallogenic belt hosting numerous porphyry Cu-Au-Mo deposits. The property is within the eastern Belt of the late Triassic Nicola Group, which is composed of basaltic volcanic rocks and fine grained sediments. The Dillard Creek Property, about 20 km to the south, hosts an alkalic porphyry system in the same (eastern) belt of the Nicola Group as the property. The alkalic porphyry deposits of the Iron Mask Batholith and the Rabbit North Property also occur within the same belt, about 75 km to the north. Several types of mineralization occur on the property. The Main (or Adit) Vein at the Wen Prospect is a chalcopyrite bearing quartz vein that is commonly about 1 m in true thickness, but has occasional shoots up to 4.4 m in true thickness. Cu grades are commonly in the 0.5 to 1% range. Au grades are erratic, often under 1 g/t, but ranging up to 16.6 g/t Au over 4.4 m (true width) in DDH 96-1. The Main Vein has been traced for about 100 m laterally and lies along the west edge of a poorly defined zone of altered and erratically mineralized volcanics and intrusives at least 70 m wide and over 450 m long. This zone (the Main Zone) appears to continue to the north and possibly the south. The zone is characterized by ubiquitous epidote alteration with patchy stockworks of quartz – carbonate +/- chalcopyrite and pyrite veinlets. Hydrothermal breccias have been noted at several locations within this zone. The Mal Prospect is a chalcopyrite bearing epidote-garnet-magnetite skarn at or near a contact between the sediments and basaltic volcanics. | |
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