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![Victory Battery Metals (CSE:VR)](https://investingnews.com/media-library/victory-battery-metals-cse-vr.png?id=33107371&width=1200&height=796)
Victory Finalizes Drilling Program Agreement for Its Smokey Lithium, Nevada Property
Victory Battery Metals (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company has reached an agreement, securing the equipment and services to conduct its drilling program with the newly identified hole locations in the area of interest contiguous with the southwest part of the original claim block for its wholly owned Smokey Lithium Property in Nevada, once its drill permit amendment is approved.
- Victory secures drill team in highly competitive market to ensure its Smokey Lithium project can advance expediently pending drill permit amendment approval
- Drill hole locations have been selected to extend strong lithium mineralization intersected previously on the property in hole 09 within the area of interest outlined in detail in the Company's press release dated 20 October 2022
- Combining results from field mapping, surface sampling, drilling and Tromino passive seismic studies, the Company has developed proprietary maps showing highly detailed visual cross sections to understand the faulting that would bound the deposit's edges
Victory's amended drill permit application includes the new high quality drill targets. The proposed program seeks to extend strong lithium mineralization intersected previously on the property's hole 09, which ended in strong, claystone hosted, lithium mineralization at 417 feet.
"In anticipation of Smokey Lithium's amended drill permit approval, the Company has secured drilling capabilities in what is an extremely competitive market, to ensure the exploration can advance in short order," said Victory President and CEO, Mr. Mark Ireton. "The permit amendment is designed to place holes on 500-1000 foot grid spacing over the Area of Interest, testing the marginalized depth of Hole 09 at such a distance to grow a resource while managing risk."
The planned second round drill targets are a perfect combination of step out drilling on previous a 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) the project area is highly prospective. Only a handful of holes have ever been drilled within the project and surrounding areas, leaving robust potential for additional discoveries of lithium mineralized claystones.
Case for Smokey Lithium Property
Victory's Exploration team had theorized that based on the nearby Jindalee property; mineralized surface clays could be widespread similar to Clayton Valley. Due to the buried nature of these clays, some field mapping, surface sampling and 3 drill holes were carried out to confirm mineralized clay was in reach on Victory Ground.
- 1 of the 3 holes encountered mineralization, Hole 09, further validating Victory's theory for widespread buried mineralized clays, as announced on 31 May 2022
- 3 holes demonstrated the complexity of the subsurface structure and nature of the clays
- It was decided to hold off on any additional drilling until strategies could be deployed that would provide a better picture of the subsurface structure with respect to bedding dips, mineralized vs. non mineralized clay characteristics etc. and faults that would bound the deposit and or drop it too deep to be economically viable
Exploration Findings & Analysis
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 deposit's 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, a 2.5 sq km area (approx.) was identified as high priority for further exploration. This new Area of Interest (AOI) resides within 91 newly staked claims and is contiguous with the southwest part of the original claim block. Hole 09, which ended in mineralization, fits within the AOI.
Summary of Findings and Actions
- Mineralized lithium clays exist on Victory's ground as evidenced in Hole 09
- Tromino passive seismic and surface mapping has identified control boundaries for the lithium discovered in Hole 09 (For example, faults, dipping of the beds etc.)
- Compiling all of this data has allowed the exploration team to generate cross sections, geologic mapping, and subsurface modelling with a high degree of confidence of the subsurface
- This compilation presents a 2-3km area with lowered risk, having a high likelihood to intersect lithium rich clays via drilling, and may indicate maiden resource potential
About Smokey Lithium, Nevada
Victory's Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium's flagship lithium project. Smokey Lithium is located northwest of Cypress' Clayton Valley Lithium Project and to the 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 technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.
For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com
About Victory Battery Metals
VICTORY BATTERY METALS (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.
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Victory Battery Metals
Overview
Victory Battery Metals (CSE:VR,FWB:VR61,OTCPINK:VRCFF) is a Vancouver-based junior mining and exploration company operating primarily out of North America. The company recently underwent restructuring and rebranding to pivot to battery metals, recognizing the significant opportunity brought about by the global efforts toward electrification and decarbonization.
As the push for clean energy and the global transition to net-zero continue to ramp up, lithium has never been more important. The burgeoning electric vehicle market exemplifies this, with sales of electric cars topping 6.6 million in 2021 and over 10 million in 2022. On the plus side, this explosive market growth will, according to the International Energy Agency, eliminate the need for roughly 5 million barrels of oil per year by 2030.
Victory’s flagship project, Smokey Lithium, has the distinction of being situated very close to the only lithium-producing silver mine in North America. In addition to Smokey Lithium, Victory maintains five other projects: Stingray Lithium Array in James Bay, Quebec; Georgia Lake Lithium property, Ontario; Tahlo Lake, in the Babine Copper-Gold Porphyry District, British Columbia; Saguenay Nickel Project, Quebec; and Black Diablo Copper and Manganese in Nevada.
These projects’ strategic locations in mining-friendly and infrastructure-ready jurisdictions position Victory to not only explore new sources of critical battery metals required to meet the growing demand, but also help disrupt the currently unbalanced supply chain, with China dominating roughly 70 percent of global lithium production despite the fact it only supplies 13 percent of the world's lithium.
Given China's questionable mining practices and propensity for leveraging the global supply chain as a political weapon, the status quo is far from ideal. Unsurprisingly, many countries — Canada and the United States among them — are investing heavily into establishing a domestic lithium supply chain. Victory Battery Metals is ideally positioned to take advantage of these investment efforts.
Company Highlights
- Recently completed a successful private placement for $2 million, and holds several million dollars in treasury.
- Smokey Lithium flagship project operates out of Nevada, one of the most mining-friendly jurisdictions in North America.
- Victory's primary focus is on bridging the considerable gap between supply and demand, and is benefitting considerably from federal mandates around lithium and critical battery metals production in both Canada and the United States.
- Work programs are planned for all major assets within the next twelve months.
- Maintains an incredibly diverse mining portfolio primarily geared towards the needs of the growing electric vehicle market. However, its assets also include precious metals such as gold and silver.
- Victory is actively working to identify opportunities in regions conducive to mining and geographic locations suited to year-round exploration and development.
Get access to more exclusive Lithium Investing Stock profiles here
Australian Organisations Make Case for Natural Capital Accounting in Resource Sector
Two organisations have collaborated on the release of a new suite of resources geared at helping companies in the Australian mining industry implement natural capital accounting (NCA).
The Cooperative Research Centre for Transformations in Mining Economies (CRC TiME) and CSIRO, Australia’s national science agency, announced the news in a press release on Monday (July 15).
NCA is a means of “accounting for impacts on nature over the life of projects.” Mining companies of all stages are increasingly being asked to show how they affect the environment and mitigate their impact accordingly.
Funding for the suite of resources came from the Commonwealth Department of Climate Change, Energy, the Environment and Water (DCCEEW), the initiator of the overarching CRC TiME NCA project.
Bryan Maybee, program leader at CRC TiME, said that risks to economic stability associated with changing climates and declining biodiversity “have generated calls for greater action from the private sector.”
“The prominence of NCA and natural capital assessment in responding to these calls for improved disclosure has accelerated considerably over the last decade,” continued Maybee, who is also associate professor of minerals and energy economics at Curtin University in Perth. “This has seen the emergence of numerous initiatives, frameworks, metrics and targets, all aimed at improving the consistency and comparability of reporting in relation to natural capital.”
Dr. Anthony O’Grady, a CRC TiME project manager and senior principal research scientist in CSIRO's natural capital group, described NCA as a key tool for understanding how the environment and economy interact.
He added that by improving disclosure and sustainability in mining companies, the industry can do a better job of showing environmental accountability — a characteristic many investors would like to see.
The suite of resources includes a business case that analyses the benefits of adopting NCA, along with an indicative roadmap. It also provides guidance on concepts, methods and reporting structures for NCA and risk assessment.
A comprehensive case study report can also be found in the suite. It presents synopses of pilot case studies testing the System of Environmental Economic Accounting-Ecosystem Accounting framework’s applicability in the Australian mining sector. These case studies assisted in the development of the business case and guidance materials.
“These reports have analyzed existing data to facilitate the development of the consistent approach that is needed across the mining sector,” Maybee said. Tests and demonstrations on the potential use of NCA information for strategic forecasting purposes in the mining sector are included in the report as well.
Other CRC TiME partners include Alcoa (NYSE:AA), BHP (ASX:BHP,LSE:BHP,NYSE:BHP), Curtin University, Hanson Construction Materials, Murdoch University, Syrinx Environmental and the University of South Australia.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Investor Presentation - July 2024
Copper-Gold-Base Metals-Uranium Ti-Tree Shear Project Gascoyne Region, WA
Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to present its investor presentation.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$1.66M Raised to Accelerate Exploration at Ti-Tree
Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has received commitments from institutional, professional and sophisticated investors to raise $1,667,500 (Placement).
- Augustus Minerals has received commitments to raise over $1.66m via a Placement.
- Proceeds from the capital raising will fund:
- Deep diamond drilling at the Minnie Springs Cu-Mo porphyry (supported by EIS drilling grant)
- VTEM (Versatile Time Domain Electromagnetic) Helicopter program testing major Cu-Ni-PGE and Uranium targets
- Expanded soil and rock chip sampling program to progress new high-grade Gold and Copper targets to drill ready status
- Commence a program of extensive field work over the large 4-kilometer-long Supergene Carbonate hosted Munaballya Well Uranium Target.
- Exploration works are continuing over various targets along the highly prospective Ti- Tree Shear with drilling to commence this quarter.
Under the placement, AUG will issue up to 23,821,430 fully paid ordinary shares (Shares) at an issue price of $0.07 per Share. The Placement includes one (1) attaching unlisted option (Options) for every two (2) Placement Shares. The Options will be exercisable at $0.12 each expiring 2 years after the date of issue.
Funds raised through the Placement will be used for the following:
- Deep Diamond drilling at the very large Minnie Springs Cu-Mo Porphyry system to test the core of the system for high-grade Copper Sulphide mineralisation.
- The initial 2 x 700m deep holes planned for Q3, 2024 is with assistance from the co- funded Government EIS drilling grant of up to $110,000 as announced 2 May 2024.
- Success in the first two planned holes will justify additional diamond drilling to further expand the Minne Springs Porphyry system
- A VTEM airborne geophysics program testing the Cu-Ni-PGE potential at the Money Intrusion, the Coo Creek Broken Hill Style target and the Munaballya Well uranium U targets.
- An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.
- Working capital and costs of the Placement.
GM Exploration Commented:
“The Augustus Board are very pleased with the overwhelming support for the placement and thank existing and new sophisticated investors for their support that positions the Company to advance exploration at the Ti-Tree project. The heavily oversubscribed placement demonstrates the strong interest in the EIS Supported drill program at the Minnie Springs Cu-Mo Porphyry system as well as continued exploration at the recently discovered Tiberius, Claudius, Justinian and South Snowy gold-copper-gold-silver prospects. The next six months will be an exciting period of exploration activity for the Company and the team are looking forward to the results”.
The Placement Shares will be issued utilising the Company’s existing Listing Rule 7.1 and 7.1A capacity. The Company will seek shareholder approval for the issue of Options.
Evolution Capital Pty Ltd (Evolution) and Morgans Corporate Limited (Morgans) acted as joint lead managers to the Placement.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
$8m Queensland State Government Funding
Queensland Pacific Metals Limited (ASX:QPM) (“QPM” or “the Company”) is pleased to announce the receipt of an $8m grant from the Queensland State Government.
Highlights
- Queensland Government will make available up to $8m in the form of a grant to prepare the Townsville Energy Chemicals Hub (“TECH Project”) for investment readiness.
- The Queensland Government grant is in addition to the recently announced $8m grant received from the Australian Federal Government under the International Partnerships in Critical Minerals program.
- Upon execution of the respective grant agreements, QPM will commence to ramp up activities for the TECH Project to advance it to stage where it is ready for a Final Investment Decision.
- The combination of the two grants represents significant and non-dilutive funding for the TECH Project. In light of this, the QPM Board has resolved to formally commence evaluation of a demerger of the TECH Project from the QPM Energy business (“Demerger”).
- The Board believes that QPM has two high quality projects that are currently undervalued in the existing corporate structure. A Demerger would allow both QPM Energy and the TECH Project to grow more efficiently and maximise value for shareholders.
Grant Funding
QPM refers to Media Statement published by the Honourable Scott Stewart, Minister for Resources and Critical Minerals on Friday 12th July1. QPM has worked with the Queensland Government, which has previously declared the TECH project a Prescribed Project and a Significant Investment Project. As a result of this collaboration with the Queensland Government, the Hon. Scott Stewart announced that the Queensland Government will make available up to $8m in the form of a grant to prepare the TECH Project for investment readiness. This is in addition to the $8m grant recently awarded to the TECH Project under the Australian Federal Government International Partnerships in Critical Minerals program (refer to ASX announcement 11 July). The Queensland Government grant also satisfies the matched funding condition required under the Federal Government grant.
QPM will now work with Queensland Treasury to finalise an agreement for the delivery of the grant and will provide more information to shareholders when it is available.
TECH Project Activities
Over the past few years, QPM has made great strides in advancing the project to a stage where it is ready for a Final Investment Decision. The two grants represent a total of $16m of non-dilutive funding which will facilitate QPM’s ability resume technical workstreams for the TECH Project without impacting the QPM Energy business and QPM’s group financial position.
Upon execution of the respective grant agreements, QPM will commence to ramp up activities on the TECH Project. This will put the TECH Project in a strong competitive position compared with other development stage nickel projects which have largely been halted. The grants will advance the TECH Project towards investment readiness, ready to capitalise on any positive sentiment change in the nickel market.
QPM Director Dr Stephen Grocott commented,
“Government support is essential for advanced manufacturing projects like TECH to be competitive on the global stage. We believe in the merits of the TECH Project with its gold standard sustainability credentials and world class partners. I would like to personally thank both the State and Federal Governments for their ongoing support, particularly at a time where it is most needed for critical minerals.”
Click here for the full ASX Release
This article includes content from Queensland Pacific Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Rare Earths Specialist CEO joins the PVW Team
PVW Resources (“PVW” or “the Company”) (ASX:PVW) is pleased to report the appointment of Mr Alistair Stephens as Chief Executive Officer of PVW.
Appointment of Chief Executive Officer
- Mr. Alistair Stephens, an industry-renowned specialist in rare earths and rare metals, joins the PVW team as Chief Executive Officer effective immediately
- With 20 years’ experience specifically in rare earths and niobium/tantalum, he brings relevant and highly strategic operational experience to accelerate the PVW resource portfolio
- A standout resource industry achiever who has collectively defined over 7 million tonnes of Total Rare Earth Oxides (TREO) resources (1,2)
- He has extensive project development skills and successfully managed multiple feasibility study programs in rare earths and rare metals
- Mr Stephens has a 35-year corporate and operations career in mining geology and mineral processing in gold, nickel and specialty metals and has a 20-year corporate career in commercial transactions, marketing and sales, and corporate governance.
- This appointment accelerates the focus on project development for PVW and complements the current Board talent in specialty and critical minerals
Board Changes
- Mr George Bauk will by rotation assume the role of Non-Executive Chair with Mr Colin McCavana and Mr David Wheeler remaining as Non-Executive Directors.
Non-Executive Chairman Mr George Bauk said: “The board of PVW Resources is extremely excited in the appointment of Mr Alistair Stephens to the role of CEO of PVW Resources.
Mr Stephens has an extensive career in leading organisations with particular reference to critical minerals including rare earths and rare metals. Over the past two decades, Mr Stephens has overseen the establishment of two significant rare earth deposits in Australia and Africa. This knowledge and leadership put PVW in a fantastic position to advance its position in the REE sector.”
Chief Executive Officer, Mr Alistair Stephens said “I am delighted to join the PVW Resources team and look forward to working with the Board in strategically relevant project developments that will deliver value for PVW shareholders.”
Click here for the full ASX Release
This article includes content from PVW Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Augustus Minerals Limited (ASX: AUG) – Trading Halt
Description
The securities of Augustus Minerals Limited (‘AUG’) will be placed in trading halt at the request of AUG, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 16 July 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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