Victory Resources is pleased to announce that it has completed the acquisition of the El Boleo property from Minera Copper Canyon S.A. de C.V., a private Mexican corporation. The transaction will allow the company to acquire up to a 100% interest in El Boleo, which is located adjacent to the historic Reforma Mine, the Santo Tomas Copper-Gold deposit, and in close proximity to the Bahuerachi Copper Deposit.
The Boleo property is comprised of a total of 13,234.65 hectares (spread over four mining concessions), is almost 25 km long in a northerly direction and up to 8.75 km wide. Recent soil and rock chip sampling defined coincident geochemical anomalies of copper, silver and zinc covering an area 1000 m long and 600 m wide.
The plans for an active work program have already begun including mapping and sampling of the known prospective resource areas of El Boleo property. With the closing of this transaction, the company now has option agreements for the El Boleo property and the adjacent Reforma property that combined is 20,460 hectares of contiguous property.
“The completion of the acquisition of the El Boleo property greatly expands the resource potential for the company and, also, of proving a significant resource for an economically viable mine,” said Wally Boguski, president and CEO. “We look forward to the advancement of both the El Boleo and the Reforma properties in Mexico with a near term goal of a resource definition.”
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