- VRPDH-1 has successfully completed, intersecting claystone at 268 feet through to 527 feet, serving to verify deposit depth beyond where Hole-09 ended in strong lithium mineralization at 417 feet during the 2022 drill program
- Drill hole locations have been selected to extend strong lithium mineralization, intersected on initial drill program in 2022 in Hole-09 within the area of interest outlined in detail in the Company’s press release dated 20 October 2022
- The project area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at surface. When combined with the highly encouraging results from Victory’s first round drilling (completed in 2022) the project area is highly prospective
VANCOUVER, BC, / ACCESSWIRE / April 12, 2023 / Victory Battery Metals (CSE:VR) (FWB:R61) (OTC PINK:VRCFF) (“Victory” or the “Company”) is excited to announce that the Company’s exploration team has completed its first drill hole to a depth of 540 feet, encountering 259 feet of uninterrupted claystone beginning at 268 feet and extending to 527 feet. The team is currently in the midst of VRPDH-2 of its high-quality drill targets, having assembled and sent cores from VRPDH-1 for assay.
“Our team was very encouraged by the positive lithological correlation observed in this new VRPDH-1, which is comparing favourably to Hole-09 from our previous drill program,” said Mr. Mark Ireton, Victory President, and CEO. “Prior to lab results, we are seeing indications that instill confidence in this programs goal to correlate the lithology of VRPDH-1 new hole to the previous Hole-09, and, significantly, we have been able to test to the bottom of the claystone, whereas 2022″s Hole-09 ended in significant claystone hosted lithium mineralization at 417 feet.”
The claystones intersected below gravel cover in VRPDH-1 are dominantly grey to dark grey in color and contain abundant fine-grained calcite as noted by using hydrochloric acid during the logging process. It is suspected that the claystone has a high content of weathered volcanic ash and that the firm character of this formation is due to the presence of calcite cement interstitial to the clay size grains. (Figure 1)
Figure 1 – Combining results from field mapping, surface sampling, drilling and Tromino passive seismic studies, the Company has developed proprietary maps showing highly detailed visual cross sections to understand the faulting that would bound the deposit’s edges. Victory’s 3-hole drill program focuses on a 2-3 km sq. area with lowered risk, having a high likelihood to intersect lithium rich clays via drilling, and may indicate maiden resource potential.
About Smokey Lithium, Nevada
Victory’s Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium’s flagship lithium project. Smokey Lithium is located northwest of Cypress’ Clayton Valley Lithium Project and to the southwest of American Lithium Corporation’s Tonopah Lithium Claims Property in southwest Nevada. Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee).
The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
About Victory Battery Metals
VICTORY BATTERY METALS (CSE:VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also actively seeking other exploration opportunities.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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