Additional Magnetic Anomalies Identified on Syd 2 Property
March 5, 1998
ADDITIONAL MAGNETIC ANOMALIES IDENTIFIED ON SYD 2 PROPERTY
Victory Ventures Inc. (VIP:VSE) reports that on February 23, 1998, an Apex Geoscience Ltd. (Apex) field crew consisting of two geologists and a geological technician mobilized to High Prairie, Alberta to perform gridding and ground geophysical surveying within the Syd mineral permits. VIP has a 100% interest in the Syd 1, Syd 2, and
Syd 3 properties located just north of Lesser Slave Lake.
Prior to mobilization to the field, Mr. Mike Dufresne and other Apex geological staff reviewed magnetic anomalies from airborne geophysical data from the Syd 1 and Syd 2 mineral permits. On the basis of this review, 90 preliminary targets were of interest with respect to kimberlites or related intrusions and were chosen for further review. All the anomalies were ground checked using a four wheel drive truck and on March 2, 1998 a Bell 206B Jet Ranger helicopter was used to fly over each of the 90 prioritized anomalies to check for culture, drainage features, access, topographic and vegetation changes. Subsequently, the priority of several magnetic anomalies was increased as they are associated with topographic and/or vegetation anomalies. Based on this, 16 anomalies at 13 target areas were chosen for reconnaissance gridding and ground geophysical surveying on the Syd 1 and Syd 2 mineral permits. Of the 16 medium to high priority magnetic anomalies, 8 exist within the Syd 1 mineral permits at 6 target areas and 8 exist within the Syd 2 mineral permits at 7 target areas.
To date, about 35 line kilometres of gridding and 28 line kilometres of ground geophysical surveying have been completed at 5 spatially separate grids to test 7 magnetic anomalies within the Syd 1 mineral permits. Upon completion of the ground geophysical survey, the Company intends to complete approximately 1500 metres of core drilling, but all 16 targets have been submitted for permitting to lands and forests, Alberta in order to receive the appropriate permits and approvals for drilling. The Syd claim blocks, according to available geological information, are thought to be in an area of relatively thin overburden.
Spectra Exploration has completed the airborne geophysical survey of the Syd 3 property and an analysis and interpretation of the results from Apex is forthcoming. Victory Ventures Inc. is a junior mining company actively involved in the Alberta diamond play and Zacatecas State, Mexico.
For additional information contact 800-370-4412 Cdn, 800-831-2956 US, or 604-681-7210 direct.
Internet web-site address is victoryventures.com.
On Behalf of the Board
Charles Desjardins |
