Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) has welcomed Rio Tinto’s signing of two option to joint venture agreements with Azimut Exploration for properties bordering Victory’s Stingray claims in the James Bay region of Quebec.
The agreements, worth up to C$115.7 million, are for Azimumt Exploration’s Kaanaayaa and Corvet lithium properties which border Victory’s Lac block and Riviere block directly to the east and south, respectively.
“The Rio Tinto Exploration/Azimut Exploration options to joint venture represent a significant advance in the direct area of Victory’s Stingray claims,” Victory CEO Mark Ireton said.
“Our exploration team is finalizing a comprehensive phase one work program for Stingray, the details for which we will be able to announce in short order.”
Irteon also noted that the company was highly encouraged by Patriot Battery Metals' announcement of the largest lithium pegmatite resource in the Americas on July 30, 2023, for its Corvette property, which is located directly to the north of Victory’s Stingray array of properties.
“[We are] pleased that Canada, in particular, Quebec, is being recognized globally as a major player in the EV revolution, specifically in this prolific area in which we have substantial and well-placed ground,” he said in a statement.
Victory Battery Metals is a publicly traded diversified investment corporation with mineral interests in North America.
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