BUILDING UPON EXTENSIVE EXPLORATION AND ANALYSIS THE COMPANY WILL AMEND ITS EXISTING DRILL PERMIT APPLICATION
VANCOUVER, BC, CANADA (November 17th, 2021) – Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is excited to announce that the Company’s Exploration Team has expanded its plans for drilling its Smokey Lithium property in Esmeralda County, Nevada from 4 to 15 holes, and will be filing an amendment to its previously announced drill permit application.
Smokey Lithium Drill Targets Expand
Victory conducted extensive exploration and sampling throughout the summer to identify its approach to drilling the property
Current drill permit has been filed for a program with four holes, the Company has accelerated its plans to expand to fifteen holes and will be filing an amendment to its drill permit application
Pending permit approvals, Victory’s Exploration team is poised to begin drilling in early winter
As a result of the extensive exploration work and analysis conducted to date, the Company’s exploration team has identified drill targets that will determine whether a relationship exists to the high Li zone on the adjacent Jindalee property.
“Our team has continued to analyze the information gathered over the summer and early fall, and the determination has been made to accelerate our efforts and expand the drill program to 15 holes immediately,” said Mr. Mark Ireton, Victory President and CEO. “As a result, the amendment to the original application is being finalized for submission.”
About Smokey Lithium, Nevada
Victory’s Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, and 20 miles west of American Lithium’s flagship lithium project. Smokey Lithium is located 25 km northwest of Cypress’ Clayton Valley Lithium Project and 35 km 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 Smokey Lithium property is located 35 km west of Tonopah, Nevada within the Walker Lane trans tensional corridor on the western margin of the Basin and Range province. The property's geology consists of Miocene - Pliocene tuff deposits, claystones, and siliciclastic beds (Esmeralda Formation) with overlying younger alluvium deposits and desert pavement formation. The claystone, which can carry high lithium concentrations, is observed as highly weathered light grey to tan mounds of unconsolidated clay from 0.10 - 1.50 meters thick. The flat lying nature of the claystones, together with the frequent occurrence of transported cover requires drilling to fully validate and assess Smokey Lithium’s the potential as indicated by surface sampling.
Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory Geologist, and a "qualified person" under NI 43-101.
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