Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) said it has acquired 280 new claims in the James Bay Lithium District in northern Quebec, bringing its total claims in the area adjacent to Patriot Battery Metals (PMET) Corvette Lithium discoveries to 347.
The diversified investment firm said its holdings now represent a large ground position in an underexplored area within an emerging lithium district.
With this acquisition, it noted that its Stingray property array grows from 3,417 to 17,792 hectares south of Patriot Battery Metals' Corvette property. The Stingray claim blocks range from adjacent to Corvette to several kilometres away and span over 65 kilometres (km) of east-to-west strike length, the company added.
READ: Victory Battery Metals outlines plans to advance its Quebec and Nevada lithium holdings; seeks additional property acquisitions
"Expanding Victory's presence in this prime location is a priority, allowing us to consolidate the company's Stingray property array, streamline exploration efforts and establish a significant presence for further strategic acquisitions and or partnerships," Victory Battery Metals president Mark Ireton said in a statement.
The company said the new claims were acquired for a cash payment of $100,000 and three million shares.
The acquisition is made up of three blocks that will now become part of the Stingray Property array:
Block One (Kaanaan Block):
- 146 claims, 7,486 hectares located approximately 2-3 km southeast and east of PMET's Corvette Lithium property. Covers the eastern extension of the major regional fault structure which represents the contact between the Archean metavolcanics and Archean granodiorites. This major structure is believed to have controlled the emplacement of lithium-bearing pegmatites within the Corvette Lithium Project located towards the west.
Block Two (Lac Block):
- 92 claims, 4,730 hectares located approximately 5 km south of PMET's Corvette Lithium Property. Covers multiple extensions of the prospective metavolcanic unit which is a known host of lithium-bearing pegmatites within the James Bay Area. The Lac Block surrounds and covers the unexplored extension from Infinity Stone Ventures Corp Hellcat Project where five pegmatites have been identified within the greenstones.
Block Three (Riviere Block):
- 42 claims, 2,159-hectare block located around 8 km southwest of PMET's Corvette Lithium Property. Located adjacent to a major east-west trending regional structure and geological contact zone between tonalite/granodiorite and metavolcanic/metasedimentary units.
The company noted that the James Bay Region of Quebec is composed of the Superior Province. This Archean craton has been deformed by various orogens over time, creating large fault zones containing gold, lithium, copper, zinc, and silver mineralization. It said the majority of the new Stingray claims lie along the same rock unit that has been previously mapped by Patriot Battery Metals which contains lithium-bearing pegmatites up to 20 km in length with lithium oxide (Li2O) values as high as 1,280 parts per million (ppm).
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 the author at stephen.gunnion@proactiveinvestors.com