Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) said it has started its second phase drilling program on its Smokey Lithium Property in Nevada, with completion anticipated within a 2-to-3-week period depending on weather conditions.
Victory's second phase 3-hole drill program includes high-quality drill targets, seeking to extend strong lithium mineralization intersected previously on hole 09, which ended in significant, claystone-hosted, lithium mineralization at 417 feet.
"Building on our extensive exploration on Smokey Lithium, our team has a high level of confidence in our understanding of the resource potential, which has informed the locations of the drill target intercepts now underway and, which are aimed at establishing the maiden resource potential of the property," Victory president and CEO, Mark Ireton, said in a statement.
READ: Victory outlines exploration plans for wholly-owned Tahlo Lake Project in British Columbia
Drill Program Summary
- The new drill targets are a perfect combination of step-out drilling on a previous 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.
- Drill holes in this phase of drilling will test the total mineralized depth of Hole 09
- The holes are being drilled 500-1000ft away from mineralized hole 09, such a distance to grow a resource as well as manage risk
“The exploration efforts of both Victory and Jindalee have shown that the most southern portion of the Smokey Valley is underlain by claystones, ashstones and mudstones of the Esmeralda Formation. This geology is critical for success in the region where large, blanket-like mineralized sections have been recently found,” the company said.
Victory said its detailed geologic mapping at the project has identified the contact of the Weepah Detachment slide block. This slide block conceals the Esmeralda formation in the southern portion of the property.
“Victory sees the potential to drill through mineralized Weepah sediments and down into mineralized Esmeralda Formation sediments,” the company added.
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.
Contact the author at jon.hopkins@proactiveinvestors.com