Highly Anomalous Zone with Results up to 1500 Ppm Li Provide Basis to Fast Track Drill Permit Application
VANCOUVER, BC / ACCESSWIRE / July 6, 2021 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is excited to announce that the Company is fast tracking a drill permit application for Smokey Lithium upon the basis of the strong results from the Company's recently completed geological sampling program on its property in Esmeralda County, Nevada, 20 miles from Albermarle's Silver Peak Mine.
"Esmeralda County is part of a prolific lithium area, and with sampling results of up to 1500 ppm Li at Smokey Lithium, Victory has a significant play right in the midst of the region," said Victory President and CEO, Mark Ireton. "The compelling results we have received from Smokey Lithium indicate that initiating a drill program on the property is our current top priority. Victory's exploration team is deployed in Nevada, putting us in an ideal position to seize this opportunity quickly and investigate the potential indicated at Smokey Lithium."
Highlights of Smokey Lithium Advancement
- Victory exploration team in advanced planning and preparation toward filing drill permit for Smokey Lithium
- Plan is to commence drilling in late summer, early fall pending permit approvals
- Sampling indicates several areas of high Li values in the claystones up to 1500 ppm Li
- The southwest area of the Smokey Lithium property showed values well over 1000 ppm Li. Sampling in this area revealed a highly anomalous zone approximately 1.5 km across
- The central area also features elevated Li values and may be related to the high Li zone on the adjacent Jindalee Property
Victory's exploration team is engaged in the process of planning its drill program for Smokey Lithium, building upon the results from its recently completed sampling program to prepare the required drill application for the property.
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.
Victory's exploration team completed the mapping and sampling program in June 2021 using both a Laser Induced Breakdown Spectroscopy (LIBS) Analyzer* and the collection of claystone samples.
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 Noram's Zeus Li 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, Jindalee).
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: [email protected]
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
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SOURCE: Victory Resources Corp.