VANCOUVER, British Columbia, March 09, 2023 (GLOBE NEWSWIRE) -- Victory Battery Metals Corp. (CSE:VR) (FSE:VR6) (OTCPink:VRCFF), a diversified investment corporation with mineral interests in North America, has received drilling permit approval for its Smokey Lithium Property in Nevada. The Smokey Lithium property is located in Esmeralda County, a prolific region for lithium clay deposits, approximately 20 miles north of Clayton Valley, home to the only producing lithium operation in the US at Silver Peak, and 20 miles west of American Lithium’s flagship lithium project.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information about this news, please view the InvestmentPitch Media video. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Victory” in the search box.
The property surrounds the Jindalee Clayton North property on three sides, with excellent access and relatively flat ground. Interesting to note that Jindalee Resources just reported an updated resource for its McDermitt Project, located to the north on the Nevada-Oregon border, which is now estimated to hold combined indicated and inferred mineral resources of 3 billion tonnes grading 1,340 parts per million, making it the largest lithium deposit in the U.S. by contained lithium.
Mark Ireton, President and CEO, stated: "We are thrilled to receive approval for our advanced drill program on our Smokey Lithium property. As announced last week, in anticipation of approval for drilling newly identified hole locations in the area of interest contiguous with the southwest part of the original claim block, we have secured all the resources required to launch our drilling program in the near future, weather depending."
Following the initial drill program, the exploration team carried out additional detailed surface mapping of outcropping beds of lithium mineralized claystone, a detailed analysis of assay results on the various clay beds and finally, a Tromino passive seismic survey to understand the faulting that would bound the deposits edges. All of this data has been processed and converted to geologic cross sections and sophisticated maps, proprietary to the company.
Upon completion of the map work, an approximate 2.5 sq km area was identified as high priority for further exploration. This new Area of Interest resides within 91 newly staked claims and is contiguous with the southwest part of the original claim block. The amended drill permit includes the new high quality drill targets and seeks to extend strong lithium mineralization intersected in Hole 09, which ended in strong, claystone hosted, lithium mineralization at 417 feet. Management considers the new drill targets to be a perfect combination of step out drilling on a previous mineralized intersection along with grassroots targets of claystone sediments within the Weepah Detachment fault and underlying claystones of the Esmeralda Formation.
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, management considers the project area to be highly prospective.
In Quebec, the recent acquisition of 280 new Stingray claims totalling 14,375 hectares was a significant addition to the original 67 claims, which totalled 3,417 hectares, giving the company a large ground position in an underexplored area within an emerging lithium district. The Stingray claim blocks range from adjacent to Patriot Battery Metals’ Corvette lithium property, to several kilometers away, spanning more than 65 km of east to west strike length.
Benchmark Minerals Intelligence estimates that approximately 59 new lithium mines need to come online by 2035.
The shares are trading at $0.085. 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.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, including a news release service, to position your company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Disclaimer
The information in this InvestmentPitch Media Ltd video is for the viewers information only. Victory Battery Metals has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
CONTACT:
InvestmentPitch Media
Barry Morgan, CEO
bmorgan@investmentpitch.com
