InvestmentPitch Media Video Discusses Victory Battery Metals’ Completion of Successful 4-hole Drill Program on its Smokey lithium Property in Nevada
VANCOUVER, British Columbia, May 03, 2023 (GLOBE NEWSWIRE) — Victory Battery Metals Corp. (CSE:VR) (FSE:VR6) (OTCPink:VRCFF), a diversified investment corporation with mineral interests in North America, has completed its 2023 spring drill program at its Smokey Lithium property in Nevada. The Smokey Lithium property is located in Esmeralda County, a prolific region for clay lithium deposits, 20 miles west of American Lithium’s flagship lithium project.
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It is approximately 20 miles north of Clayton Valley, home to the only producing lithium operation in the US at Silver Peak, along with nearby Noram, Spearmint, and Enertopia projects. The property surrounds the Jindalee Clayton North property on three sides, with excellent access and relatively flat ground.
Mark Ireton, President and CEO, stated: “Our team has reviewed the onsite findings and have determined that this drill program moved the project from an early-stage project towards an advanced stage project. The culmination of 3 years of geological study, surface sampling and drilling has confirmed that the project is underlain by thick sections of claystone rocks. Assay results from the 2022 drill program clearly show that these claystones are in fact mineralized with lithium. The project has now passed the all the important milestones to date in proving there are the right type of rocks underlying the property, and that these rocks contain robust lithium. This program is a significant advance in establishing a deposit at Smokey Lithium and we eagerly await the assay results from this drilling.”
The company drilled 4 holes for a combined total of 1,966.5 feet, which were selected to extend strong lithium mineralization, intersected in Hole-09 from the initial drill program in 2022, which ended in significant, claystone hosted, lithium mineralization at 417 feet. Combining results from field mapping, surface sampling, drilling and Tromino passive seismic studies, the company 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 focused 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. Victory’s Exploration team determined that the most compelling hole location to drill the fourth hole 23-05, would be 1 km to the west southwest of hole 23-03, in order to gain the most knowledge of the potential deposit. Hole 23-01, with a total depth of 540 feet, reached claystone at 268 feet which ended at 517 feet, with all claystone reacting to hydrochloric acid. The claystones were identical to the mineralized zone exhibited in Hole-09.
Hole 23-02, which reached claystone at 121 feet, was terminated at 155 feet due to adverse ground conditions as the clay swelled after exposure to water from the drilling. Hole 23-03, with a total depth of 617.5 feet, reached sandy clay at a depth of 175 feet, ending at 319 feet, resulting in a total of 144 feet of a main clay zone, similar to the claystone clasts found in hole 23-01 at 596 to 605 feet. Hole 23-05 was drilled to 600 feet and encountered claystone for the full depth, with the clay reacting to hydrochloric acid for the entire hole.
The shares are trading at $0.065. For more information on the company and its other properties, please visit the company’s website www.VictoryBatteryMetals.com, contact Mark Ireton, President and CEO, at 236-317-2822 or by email at [email protected].
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