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Victory Resources initiates magnetometer survey for Lac Simard property in Quebec

Published: 08:59 13 Jul 2021 EDT

Victory Resources Corp -
Victory Resources said it engaged Abitibi Geophysics to conduct a 60km survey over the west-central part of the property

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. 

READ: Victory Resources fast tracks permit process at Smokey after identifying high lithium values

“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

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