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Victory Metals Options Deep, Carlin Style Gold Target at Iron Point to Ethos Gold for $5M Earn-in With Drilling Led by Dr. Quinton Henningh
Victory Metals Options Deep, Carlin Style Gold Target at Iron Point to Ethos Gold for $5M ...
About this update from Nevada King Gold Corp
[{"type":"text","content":"\n\n\n\nVictory Metals Options Deep, Carlin Style Gold Target at Iron Point to Ethos Gold for $5M Earn-in With Drilling Led by Dr. Quinton Henningh\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 17, 2019\n\n\n\nVANCOUVER, May 17, 2019 /CNW/ - Victory Metals (\"TSX-V:VMX\") (\"Victory\" or the \"Company\") is pleased to announce that the Company has entered into an option agreement (the \"Agreement\") with Ethos Gold (\"TSX-V:ECC\") (\"Ethos\"), whereby Ethos can spend $5M to earn an undivided 50% interest in the precious metals rights at the Iron Point Vanadium Project, Nevada (the \"Property\"). High priority, deep gold/silver drill targets have been proposed by Dr. Quinton Henningh, who will oversee the drilling program at Iron Point as technical advisor to Ethos.\nHighlights:\nEthos can earn a 50% interest in the precious metals rights in the 13,300 acre Iron Point property by spending a minimum of $5 million over three years, with minimum expenditures of $1 million in the first year which will include drilling of up to 3 holes targeting deep, Carlin-style gold targets. Once Ethos has incurred $5 million, a 50-50 joint venture will be formed between Ethos and Victory, specific to the precious metals rights. Victory will retain a 100% interest in widespread, near-surface Vanadium mineralization that has recently been outlined through drilling by the Company. Victory receives special mining treatment in the Agreement, whereby should precious metals be found near vanadium mineralization, vanadium mining will be given preference. Victory is given a veto on any precious metals mining rights that could in anyway interfere with the development of vanadium deposits outlined on the Property.   Iron Point (see Figure 1) is located at the intersection of the Battle Mountain and Getchell Gold Trends, and is on trend with several high-grade, world-class gold mines including Twin Creeks, Getchell/Turquoise Ridge, and Marigold. Recent fossil analysis has established that the Comus formation at Iron Point previously mapped as Upper Pl...