Victory Resources Corporation (OTCMKTS:VRCFF) (CSE:VR) Stock Moves Up 10% In a Week: Here is Why

Victory Resources Corporation (OTCMKTS:VRCFF) (CSE:VR) is up 10% in a week. The company has announced results for its recently finalized and comprehensive IP review on the Mal-Wen prospect within the Nicola Group’s eastern belt in south-central BC.

Market Stats

On Wednesday, VRCFF stock jumped 0.68% to $0.0740 with more than 3.18k shares, compared to its average volume of 101K shares. The stock has moved within a range of $0.0681 – 0.0740 after opening trading at $0.0717.

Victory Announces Mal-Wen IP Survey Results

The 41.6 kilometers IP study over the Mal-Wen Deposits, revealed in November and finalized in December, showed many major chargeability anomalies. Alkalic Cu-Au Porphyry-style mineralization is the exploration focus.

The main priority goal is the Mal East anomaly which is to the north. It has a high resistivity and chargeability that covers an area of more than 500 square meters in a sparsely populated area. The anomaly’s nature is comparable to the Mal Prospect (about 500 meters to the west), although it is much stronger and larger. Interestingly none of the anomalies is yet to be drill tested, and the company plans to conduct an inversion on the findings to offer precise drill targeting. Therefore in the coming weeks, investors should watch VRCFF.

Key Quote

“In light of earlier work by Victory, which determined that the Mal and Wen Prospects are essentially similar Cu-Au bearing zones that appear to be structurally linked, the Mal East IP anomaly is an excellent drill target in an area with little outcrop and no previous drilling. Similarly, the large chargeability anomaly west of the Wen Prospect is also in an area of sparse outcrop and has never been drill tested,” noted Victory President and CEO, Mr. Mark Ireton.

Traders Corner

VRCFF stock is above the 20-Day and 50-Day Moving averages of $0.0715 and $0.0728 respectively. The stock is trading in the neutral zone with the RSI at 53.