[posting]33859424[/posting]Quelle:GOLDDRIVER
Victoria Continues To Drill High Grade Gold At Cove-McCoy
Hole NW-6A Intersects 39.6 m (130 feet) of 11.8 g/t (0.343 oz/ton)
shares outstanding: 91 million
market cap: $85 million
Dear member,
Victoria Resource Corp came out last week with impressive drilling results from its Cove-McCoy gold project Nevada which included an intersection of 39.6 m grading 11.8 g/t gold.
Seven core holes totalling about 6,400 m (21,000 feet) have now been drilled by the Company at Cove-McCoy and the system seems to get bigger and bigger with each single drill hole. The amount of gold Victoria has discovered given so few holes and only about $5 million spent to date is truly extraordinary. Victoria has three core drill rigs in operation at Cove-McCoy and is going fast forward now. The next few holes will be very important because they could be adding ounces quickly. If Victoria succeeds in demonstrating a multi million ounce deposit at Cove-McCoy that could be mined economically then Victoria will be a winner.
Victoria is trading at 93 cents these days which marks an excellent entry point for those investors who want to buy or add to their existing positions. Victoria traded at $1.60 in December last year and it's only a matter of time to see Victoria clocking new highs again.
MGI Securities just initiated coverage for Victoria as well and maintain a $1.40 target
Technical oriented investors however could opt to wait until Victoria's recent down-trend has been breached to the up-side, see chart below:
Press release highlights:
Victoria Reports More High Grade Gold Results From Cove-McCoy: Hole NW-6A Intersects 39.6 m (130 feet) of 11.8 g/t (0.343 oz/ton)
Thursday April 10, 9:00 am ET
Seven core holes totalling about 6,400 m (21,000 feet) have now been drilled by the Company at Cove-McCoy. Hole NW-6A is part of a new campaign started in late 2007 to determine the size and grade of the Helen Zone's gold mineralization. The Helen Zone, a new discovery by Victoria, is located just 625 m (2,000 feet) north-west of the large Cove open-pit
Chad Williams, President and CEO of Victoria Resource Corporation comments:
We are very pleased with the length and grade of the assays returned by NW-6A. The size of the Helen Zone appears to be growing with each new hole that we drill. Victoria's exploration at the Helen Zone is still in its infancy and the results thus far are encouraging with the geometry of the mineralized system remaining open in multiple directions."
Cove-McCoy Background
The Helen Zone is one of eight postulated significant structural intersection zones located within the "NW-Cove" target. In turn, the NW-Cove target is just the first of fourteen larger target areas on the Cove-McCoy property to be drilled by Victoria.
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