Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) has announced drill results from Phase 2 drilling program at its Smokey Lithium Nevada property, confirming a significant area of interest and positive indications for continued exploration.
The Phase 2 drilling bears a strong correlation to its Phase 1 2022 drill program, the company said, adding that drilling is still at an early stage with seven holes now completed.
Highlights include hole 23-01, which intersected 695 parts per million (ppm) lithium (Li) in claystone, including 858 ppm Li over 210 feet from 327 feet to 537 feet, 1,023 ppm Li over 137 feet from 391 feet to 528 feet, and 1,267 ppm Li over 85 feet from 434 feet to 519 feet. The maximum intercept of 1,620 ppm Li occurred over 8 feet from 464 feet to 472 feet.
“Victory’s exploration team is highly encouraged by the correlation between holes 22-09 and 23-01, which identifies an extension of the highly mineralized zone identified in the Phase 1 drill program last year,” Mark Ireton, Victory president and CEO said in a statement.
“Drill programs provide information on where exploration and future drilling needs to be focused and on where it does not, in this case beyond the information that ppm Li provides, interestingly, the claystone intercepted beginning at surface on hole 23-05 has characteristics that are of high interest to our team and require continued analysis in relation to significant deposits that exist in the region. As noted on 12 June 2023, the company has expanded the Smokey Lithium property by 100 lode claims in response to preliminary analysis in order to protect the interests of the project going forward.”
Hole 23-01, meanwhile, compared favourably to Hole 22-09 from the company’s previous drill program, correlating in lithology but with higher Li ppm values to 22-09, achieving the main objective of this drill program to test the bottom of the claystone, noting that 2022’s Hole-09 ended in significant claystone hosted lithium mineralization at 417 feet, the company said.
Hole 23-02 reached claystone at 11 feet and was terminated at 155 feet due to adverse ground conditions involving swelling clay and the collapse of the hole. Hole 23-03 was drilled to a depth of 617.5 feet, averaging 218 ppm Li for 64.5 feet from 203.5 feet to 268 feet. Hole 23-05 intersected claystone at surface and averaging 303 ppm Li from surface to 220 feet, with highest intercepts of 620 ppm Li for 9.5 feet from 77.5 feet to 87 feet, 530 ppm Li for 9.5 feet from 134.5 feet to 144 feet, and 410 ppm Li for 9 feet from 192 feet to 201 feet.
The company said the project area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at surface, adding that when combined the project area is highly prospective.
The 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