Extensive Exploration Conducted Throughout the Summer to Develop Drill Target ZonesVictory Resources Corporation is excited to announce that the Company has filed its drill permit application for its Smokey Lithium property in Esmeralda County, NevadaHighlights of Smokey Lithium AdvancementVictory conducted extensive exploration and sampling throughout the summer to identify its approach to drilling the ...

Extensive Exploration Conducted Throughout the Summer to Develop Drill Target Zones

Victory Resources Corporation (CSE:VR)(FWB:VR61) (OTC PINK:VRCFF) ("Victory" or the "Company") is excited to announce that the Company has filed its drill permit application for its Smokey Lithium property in Esmeralda County, Nevada

Highlights of Smokey Lithium Advancement

  • Victory conducted extensive exploration and sampling throughout the summer to identify its approach to drilling the property
  • Drill permit has been filed for a program with four holes, which the Company plans to expand to fifteen holes pending results and analysis
  • Plan is to commence drilling in late fall, early winter pending permit approvals

Through May and June, Victory's exploration team conducted mapping and sampling using both a Laser Induced Breakdown Spectroscopy (LIBS) Analyzer* and the collection of claystone samples which were submitted to ALS in Reno. Values up to 630 ppm Li were returned from the surface sampling. The LIBS results were often several times higher than the associated rock sample results, possibly due to the high summer heat and/or the unconsolidated nature of the samples, therefore these results could only be used qualitatively.

Victory's exploration team continued to conduct exploration activities through July in order to better understand the geology and confirm a strategy for drilling. Surficial sediment sampling was conducted in the southwest and central zones of the property and taken from animal burrows. In addition, seven sites for deeper sampling were chosen based on their elevated surficial lithium values. Holes were dug and samples were taken from > 1 m deep in an attempt to find claystone beneath the generally unconsolidated surficial sediment.

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.

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.

* Laser Induced Breakdown Spectroscopy (LIBS) is a rapid chemical analysis tool that is used to detect and characterize materials. Focusing a powerful laser pulse onto the surface of solid, liquid or even gaseous matter is analyzed to determine the elemental composition of the sample.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

Victory Resources Corporation (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.

Forward Looking Statements

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.

SOURCE: Victory Resources Corporation



View source version on accesswire.com:
https://www.accesswire.com/668643/Victorys-Exploration-Team-Files-Drill-Permit-Application-for-Smokey-Lithium-Nevada

News Provided by ACCESSWIRE via QuoteMedia

Ground Geophysics Identifies Copper Drill Targets Supporting Surface Mineralisation At Picha Project, Peru

Ground Geophysics Identifies Copper Drill Targets Supporting Surface Mineralisation At Picha Project, Peru

Valor Resources Limited (“Valor” or the “Company”) is pleased to announce the commencement of a ground geophysical survey at the Company’s Picha Project in Peru. A ground magnetic and Induced Polarisation (IP) survey has commenced with the first three lines of the IP survey completed and 70% of the ground magnetic survey completed. Preliminary results have been received for the first three lines of the IP survey which have revealed chargeabilty anomalies at depth which correlate with surface mineralisation at the Cumbre Coya, Maricate and Cobremani target areas (see Figures 1, 2 & 3 – IP lines L_7776, L_8176 & L_8576).

Keep reading... Show less

Ivanhoe Mines Reports No Impact from the Omicron Variant on Any of Its Operations

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) reports that the new COVID-19 variant, Omicron, has had no impact on any of its mining or mine development operations in South Africa or the Democratic Republic of Congo (DRC).

No cases of the new variant have been detected at the company's Kamoa-Kakula and Kipushi projects in the DRC and, while there have been some recent infections among employees and contractors working at the company's Platreef Project in South Africa, all people infected to date have either been asymptomatic or experienced very mild symptoms.

Keep reading... Show less
Libero Copper Upsizes Private Placement to $7 Million and Announces Closing of First Tranche

Libero Copper Upsizes Private Placement to $7 Million and Announces Closing of First Tranche

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) (" Libero Copper ") is pleased to announce that due to strong investor demand, it has increased the non-brokered private placement announced on November 8, 2021 (the " Offering ") for the sale of up to 14,000,000 units (the " Units ") at a price of $0.50 per Unit for gross proceeds of up to $7,000,000 . Each Unit will be comprised of one common share (each, a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant ").

Keep reading... Show less
Another Exceptional Copper-Vanadium-Lead Intersection At Nosib

Another Exceptional Copper-Vanadium-Lead Intersection At Nosib

and step out hole extends copper-vanadium-lead mineralisation along strike to the NE

Golden Deeps Limited (“Golden Deeps” or “Company”) is very pleased to announce further, exceptional, copper-vanadium-lead-silver intersections from the second diamond drill hole at the Nosib Block (“Nosib”) Prospect, located in the Otavi Mountain Land of northern Namibia (see location Figure 3).
Keep reading... Show less
Copper Mineralisation Extends Across Earaheedy Project

Copper Mineralisation Extends Across Earaheedy Project

Peak Minerals Limited (ASX: PUA) (Peak Minerals or the Company) is pleased to announce results from its drill program at the Earaheedy Project completed in June 2021. The purpose of the drill program was to:

  1. Test previously identified, near surface, copper anomalism and
  2. Test the potential for basement mineralisation at the Cork Tree and Merah Prospects.
Keep reading... Show less
Benton Advised that Clean Air Metals Announces a PEA of the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project, with Post-Tax NPV of C$378m, IRR 29.8%

Benton Advised that Clean Air Metals Announces a PEA of the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project, with Post-Tax NPV of C$378m, IRR 29.8%

Benton Resources Inc. (TSXV: BEX) ("Benton") is pleased to announce it has been advised that Clean Air Metals Inc. ("Clean Air") has announced results from an independent Preliminary Economic Assessment (PEA) that was completed for its Thunder Bay North Platinum Group Element (PGE Copper (Cu Nickel (Ni) Project near Thunder Bay, Ontario, Canada. The PEA was prepared by Nordmin Engineering Ltd. ("Nordmin") of Thunder Bay, Ontario, and includes provision for a stand-alone milling complex and waste storage facility to process mill feed from both the Current deposit and the Escape deposit, part of the Thunder Bay North Project Mineral Resource Estimate.

PEA highlights include:

Keep reading... Show less

Top News

Related News