Victoria Gold Corp (VIT-V; off 4 cents on 1.2 million at $0.80) has released a second drill hole from its deep testing into the wall of the Santa Fe pit in Nevada; this second hole was drilled in a different direction but from the same location as the first hole that was announced in December. This hole cut 284 metres of 2.5 g/t gold that included a few higher grade sections but none that would skew the overall sense of this as sizable bulk tonnage zone. The release was at pains to indicate that two separate and crossing fracture directions were noted in the core logging. Since gold is usually deposited on fracture surfaces, the import of this would be that the drillhole orientation shouldn’t be down the dip of the mineralization. The core angles are useful, but we would have to agree with the market’s apparent desire that the zone’s orientation be sorted out with several holes from other locations that allows a better assessment of near surface tonnage potential. After a decent gain on 5.4 million shares of turnover the day after the announcement, a fair bit of that gain was given yesterday. We do like this project, and the potential these drill holes suggest since at a minimum they show a lot of potential to depth. VIT has been growing through take-over of other juniors and it naturally needs to work through the paper it has created in the process, so incremental gains are the order of the day at any rate until some better sense of overall potential is available. We look forward to seeing those. http://www.vitgoldcorp.com/