|By Marketwired .||
|May 6, 2014 03:30 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/06/14 -- Victory Ventures Inc. (TSX VENTURE:VVN)(FRANKFURT:VV0) (the "Company") is pleased to report the recent acquisition of the PDL mineral property, located in the Keremeos-Olalla region of southern British Columbia. Under the terms of the Agreement and subject to regulatory approval, the Company has agreed to pay to the Vendor $2,500 cash and issue 300,000 common shares. The Vendor shall retain a 2% net smelter return ("NSR") of which each one-half percent of the NSR may be purchasable by the Company at its discretion for a payment of $500,000.
The PDL property has a recent 43-101 Technical Report, which will be filed with the TSX Venture Exchange and posted on SEDAR upon receipt of regulatory approval to the acquisition.
The Company intends to investigate the epithermal-style gold-silver potential of the Astro zone located on the east side of the PDL property, last explored by QPX Minerals Inc. in 1989. In 2003, A. Travis staked the Astro 1-6 claims to cover the Astro 34 claim area and completed prospecting with minor rock and soil sampling.
The PDL property has not seen any recent exploration and early exploration was mainly carried out on the western side of the current property area by Placer Dome Development Ltd. in 1984-85 and by QPX Minerals Inc. in 1987-89. The earlier exploration work on the west side of the PDL property was carried out in the vicinity of an old (1930's?) short adit (about 10 m long), which cross-cuts a small massive sulphide lens, carrying anomalous gold and copper values. Narrow pyrite-arsenopyrite stringers containing locally high grade gold values are known on the west side of the PDL property, but do not present a viable exploration target. From this area, grab sample PDL-556 in 1987, yielded 30.3 grams per tonne gold, 22.5 grams per tonne silver, 0.25 per cent copper, 0.14 per cent lead, 0.57 per cent zinc and 3.74 per cent arsenic (Assessment Report 16674).
Following the discovery of a new argillic +/-silica alteration zone in 1988, QPX Minerals Inc. conducted a preliminary exploration program on the previous Astro 34 claim, located on the eastern portion of the current PDL claim.
At the Astro zone, magnetometer and VLF-EM surveys were carried out on 25-50 metre-spaced east-west lines over an area of 400 metres by 400 metres. Three very well defined conductive north-south lineaments with corresponding magnetic lows were identified, which were later tested by a limited program of trenching and reverse-circulation drilling over a small (50 metres by 100 metres) portion of the westernmost of the three linear anomalies.
Five reverse-circulation drillholes totalling approximately 250 metres and five trenches totalling 150 metres were completed on the Astro 34 claim. Trenching in 1988 was successful in exposing a zone of silicified and argillically altered volcanics up to 20 metres in width over a strike length of 140 metres, which remains open. Anomalous gold values were returned from this work and recommendations included the future use of a larger backhoe to carry out further trenching.
Anomalous gold (up to 0.705 gram per tonne), silver (up to 14.8 grams per tonne) and molybdenum (up to 0.15 per cent) were returned over 3 metre sections from reverse-circulation drillhole PDL-89-RC-2. These anomalous values were found associated with chalcedonic veinlets in argillically altered Kitley Member volcanics of the Marron Formation. Reverse circulation drilling demonstrated that the alteration extended to a depth of 47 metres below surface at which point there was no evidence of a decrease in the strength or size of the alteration system.
This previous work has now laid the groundwork to quickly and efficiently build upon the work of 25 years ago, that has never been followed up. Exploration successes at the nearby Dusty Mac and Vault Projects, located to the east of the PDL property, bode well for renewed exploration of the PDL-Astro mineral zone. A model for the epithermal style of mineralization found on the PDL property can also be found in several of the gold deposits found within the Republic District of northeastern Washington State. These deposits include the Republic Mine and the Kettle River Project (operated by Kinross Gold), which includes the Kettle, K-2, Lamefoot and Overlook mines.
The Republic District has accounted for roughly five million ounces of gold production over the last century and contains some of the highest-grade, bulk-tonnage gold deposits in the United States. In geology, a graben is a depressed block of land bordered by parallel fault structures. Epithermal gold deposits are found in and around these fault structures, which are believed to extend northward into British Columbia, including the area of the PDL property.
It is the intention of Victory Ventures to more fully evaluate the mineral potential of the Astro mineral/alteration zone through immediate further geological mapping, prospecting and sampling in areas of promising rock alteration or geophysical anomalies. It is anticipated that further exploration will lead to testing of the depth potential of the Astro zone through IP surveys and with encouragement, a follow-up diamond drill program.
Director Howard Milne stated, "The Company is excited to begin exploration work on this prospective mineral target that has seen very limited exploration in the past and looks forward to a possible new mineral discovery."
Mr. Greg Thomson, P.Geo., is the Qualified Person as defined by National Instrument 43-101. Mr. Thomson is a director for the Company and has reviewed and approved the technical information contained in this news release.
On behalf of the Board of Directors:
Howard Milne, Director
Victory Ventures Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of precious metal properties in North America. The Company's shares are listed and posted for trading on the TSX Venture Exchange under the symbol "VVN" and on the Frankfurt Exchange under the symbol "VV0".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
Feb. 9, 2016 11:00 AM EST Reads: 251
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 9, 2016 10:45 AM EST Reads: 127
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Feb. 9, 2016 10:45 AM EST Reads: 185
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
Feb. 9, 2016 10:30 AM EST Reads: 371
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 9, 2016 10:00 AM EST Reads: 352
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 9, 2016 08:45 AM EST Reads: 424
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
Feb. 9, 2016 08:15 AM EST Reads: 223
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 9, 2016 08:00 AM EST Reads: 360
Data-as-a-Service is the complete package for the transformation of raw data into meaningful data assets and the delivery of those data assets. In her session at 18th Cloud Expo, Lakshmi Randall, an industry expert, analyst and strategist, will address: What is DaaS (Data-as-a-Service)? Challenges addressed by DaaS Vendors that are enabling DaaS Architecture options for DaaS
Feb. 9, 2016 08:00 AM EST Reads: 336
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 9, 2016 07:45 AM EST
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Feb. 9, 2016 07:15 AM EST Reads: 215
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
Feb. 9, 2016 07:00 AM EST Reads: 182
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Feb. 9, 2016 06:45 AM EST Reads: 290
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 9, 2016 06:45 AM EST Reads: 168
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 9, 2016 06:15 AM EST Reads: 176