Victory Resources Corporation (CSE:VR) (OTCPINK:VRCFF) (FRA:VR61) said it has begun a magnetometer survey program on its Lac Simard property in Quebec.
The Vancouver-based junior international mining company said it engaged Abitibi Geophysics to conduct a 60-kilometer (km) ground mag survey over the west-central part of the property. The surveys are a primary tool in determining the structure of a property, as well as outlining magnetic units.
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“Much of this area has seen little exploration, though several geophysical surveys and 11 drill holes are recorded on the west side of the property,” the company said in a statement.
“Structure exerts a primary control on the location of the gold deposits of the Val D'Or camp,” it added.
The Lac Simard property is about 5km south of Val-d'Or, Quebec. The property abuts the southern edge of the Goldex claim block.
There are three operating gold mines within 20km of the property, including Agnico Eagle Mines Ltd's (NYSE:AEM) (TSE:AEM) (FRA:AE9) Goldex Mine, 6km north of the property; the Canadian Malartic Mine, a joint venture between Agnico Eagle and Yamana Gold Inc (NYSE:AUY) (TSE:YRI) (LON:AUY) (FRA:RNY) that lies 20km northwest of the property; and Eldorado Gold Corp's (NYSE:EGO) (TSE:ELD) (FRA:ELO1) Lamaque property, 6km north of Lac Simard.
Contact the author at stephen.gunnion@proactiveinvestors.com