VANCOUVER, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Victory Battery Metals Corp. (CSE:VR) (FSE:VR6) (OTCPink:VRCFF), a diversified investment corporation with mineral interests in North America, is featured in today’s video by InvestmentPitch Media. Covering approximately 18,000 hectares in Quebec’s Eeyou Istchee James Bay region, the company’s Stingray claims lie along the same rock unit previously mapped by Patriot Battery Metals, in the middle of a major emerging lithium district.
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Rio Tinto Exploration Canada, a Canadian subsidiary of Rio Tinto Group, a leading global mining group, recently signed two option to joint venture agreements with Azimut Exploration for its wholly-owned Corvet and Kaanaayaa lithium properties. The agreements contemplate an aggregate value of up to CDN$115.7 million in expenditures and cash payments.
While both Azimut properties display significant lithium exploration potential supported by regional geoscientific data, they also have strong potential for intrusion-related gold-copper and magmatic nickel-copper-cobalt mineralization. These two properties are directly to the east and south of Victory’s Lac Block and Riviere Block.
On July 30th, Patriot Battery Metals reported a maiden resource estimate, at its Corvette Property, of 109.2 million tonnes at 1.42% lithium oxide in the inferred category at its CV5 Spodumene Pegmatite. It remains open along strike at both ends, and at depth along a significant portion of its length. On July 31st, Patriot entered into a subscription agreement for a private placement of approximately C$109 million from Albemarle Corporation.
Patriot Battery Metals’ Corvette Property lies directly north of Victory’s group of properties. Patriot Battery Metals’ CV5 Spodumene Pegmatite is considered the largest lithium pegmatite mineral resource in the Americas and the 8th largest globally.
Mark Ireton, President and CEO, stated: “The Rio Tinto Exploration/Azimut Exploration options to joint venture represent a significant advance in the direct area of Victory’s Stingray claims. Our exploration team is finalizing a comprehensive phase one work program for Stingray, the details for which we will be able to announce in short order. We are highly encouraged by Patriot Battery Metals announcement of the largest Lithium Pegmatite Resource in the Americas on 30 July 2023 for its Corvette Property, directly to the north of Victory’s Stingray array of properties - and pleased that Canada, in particular Quebec, is being recognized globally as a major player in the EV revolution, specifically in this prolific area in which we have substantial and well-placed ground.”
The shares are trading at $0.045. 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 info@VictoryBatteryMetals.com.
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