Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) said its Phase 2 drilling program at the Smokey Lithium Nevada property has yielded positive results, revealing high-grade lithium (Li) claystone mineralization across significant widths.
The findings were compared favorably to American Lithium Corp's previous reports on its TLC claystone Li deposit, Victory noted.
The company said it intends to pursue a follow-up exploration and drilling program. The diamond drill hole 23-0 reported a thick sequence of high-grade claystone lithium mineralization, with results at a 600 parts per million (ppm) Li cut-off comparable to the high-grade infill resource holes reported by American Lithium in April 2019 at the TLC Li claystone project.
Nevada's Esmeralda lithium belt boasts highly attractive high-grade Li claystone deposits, characterized by open-pittable, near-surface, and easily accessible lithium mineralization. Such deposits are conducive to low-cost and sustainable mining methods.
A recent Mineral Resource Estimate and Technical Report by Stantec Consulting Services Inc. for American Lithium's TLC deposit highlighted the substantial lithium resources in the region.
Victory said it now plans to further delineate the subsurface extensions of the thick claystone interval discovered in DDH 23-01. The company will utilize a geophysical approach to map basement faults and identify potentially conductive claystone units, aiming to outline the depth and continuity of the high-grade lithium claystone units on the property.
In a statement, Mark Ireton, Victory's president and CEO, expressed optimism about the preliminary results, emphasizing the interconnected nature of such deposits.
He said: "Victory's Geology team is very encouraged by these preliminary results, noting that these types of deposits do not exist in isolation." Ireton noted that the company's focus moving forward is on defining the primary body of the deposit.
Situated approximately 20 miles north of Clayton Valley and to the west of American Lithium's flagship project, Victory's Smokey Lithium project is a clay lithium property. It is strategically located in the lithium-rich Esmeralda County Nevada, alongside prominent lithium clay deposit projects like Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee.
Victory Battery Metals is a diversified investment corporation with mineral interests in North America and is actively seeking additional exploration opportunities.
Contact the author at jon.hopkins@proactiveinvestors.com