Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) has provided an update on its Stingray properties in Quebec’s James Bay Lithium District, which borders Azimut Exploration's Kaanaayaa and Corvet properties.
"In preparation toward our work program, Victory's geology team have identified significant lake sediment data on our property that show higher lithium values than those in the main western lithium anomaly shown on the Kaanaayaa Property from Azimut's 23 January 2023 press release," Victory Battery Metals CEO Mark Ireton said in a statement.
“Samples in the 99th percentile, such as ours, have higher lithium values than 99 out of 100 samples collected regionally, making them strongly anomalous for lithium relative to other samples in the area," he added.
The diversified investment corporation noted Azimut's Kaanaayaa and Corvet properties border Victory's Lac Block and Riviere Block directly to the east and south, respectively.
The company added that a recent Azimut news release announcing the acquisition of the Kaanaayaa and Corvet properties specifically notes that "several coincidental lithium-cesium-rubidium- gallium anomalies have been identified from detailed multi-element lake sediment geochemistry" on the Kaanaayaa property, with Victory Battery Metals stating that comparable anomalies in lake sediment samples have been found on its adjacent Lac Block.
Rio Tinto Exploration Canada signed two option to joint venture agreements with Azimut Exploration for up to C$115.7 million for its Kaanaayaa and Corvet properties, 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