Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) announced that its exploration team has successfully completed its first drill hole (VRPDH-1) of the current drill program at its Smokey Lithium project in Nevada to a depth of 540 feet, encountering 259 feet of uninterrupted claystone beginning at 268 feet and extending to 527 feet.
The diversified investment corporation said the purpose of drill hole VRPDH-1 was to verify the deposit depth and extend the strong lithium mineralization beyond where Hole-09 ended at 417 feet during the 2022 drill program.
“Our team was very encouraged by the positive lithological correlation observed in this new VRPDH-1, which is comparing favourably to Hole-09 from our previous drill program,” Victory Battery Metals CEO Mark Ireton said in a statement.
“Prior to lab results, we are seeing indications that instill confidence in this program's goal to correlate the lithology of VRPDH-1 new hole to the previous Hole-09, and, significantly, we have been able to test to the bottom of the claystone, whereas 2022’s Hole-09 ended in significant claystone hosted lithium mineralization at 417 feet,” he added.
Victory noted the project area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at surface and, when combined with the encouraging results from its first round drilling (completed in 2022), the project area is highly prospective.
The company added that combining results from field mapping, surface sampling, drilling and Tromino passive seismic studies, it has developed proprietary maps showing highly detailed visual cross sections to understand the faulting that would bound the deposit's edges.
As well, Victory stated that its three-hole drill program focuses on a two to three-square-kilometre area with lowered risk, having a high likelihood to intersect lithium-rich clays via drilling, and may indicate maiden resource potential.
Victory’s exploration team is currently in the midst of hole VRPDH-2 of its high-quality drill targets, having assembled and sent cores from VRPDH-1 for assay, according to the company.
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