Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) provided an update to its shareholders on the company's key lithium holdings and strategy going forward, saying its exploration team is conducting initial planning on a program for its Stingray properties in proximity to Patriot Battery Metals Inc (TSX-V:PMET, OTCQB:PMETF, ASX:PMT) (PMET) Corvette property in Quebec’s James Bay Lithium District.
The diversified investment firm also said its Smokey Lithium Nevada property has been extensively analyzed, informing an amended drill permit with high confidence targets which has been filed and is in process.
“The Stingray property array is in a prime location and our exploration team is in the process of planning an initial program, while simultaneously looking for additional strategically aligned property in the area to further Victory's interests on behalf of shareholders,” Victory Battery Metals president Mark Ireton said in a statement.
READ: Victory Battery Metals looks to raise up to $2M combined from private placements
"Victory's exploration team has advanced the Smokey Lithium property to a high confidence scenario where it sees the potential to drill through mineralized Weepah sediments and down into mineralized Esmeralda Formation sediments,” Ireton added.
Victory noted the Smokey Lithium drill targets are targeted at that geologic setting with a goal of significantly expanding the known lithium mineralization on the property.
The company added that the compilation of data at Smokey Lithium presents an area of two to three kilometres, with lowered risk, with a high likelihood to intersect lithium rich clays via drilling and may indicate maiden resource potential, and for which an amended drill permit application has been submitted and is in process.
As well, Victory said its exploration team is actively pursuing additional property in the James Bay Lithium District, and other promising lithium areas in both Canada and the US.
Victory Battery Metals is a publicly-traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.
Contact Sean at sean@proactiveinvestors.com