Victory Resources Corporation said it has filed its drill permit application for its Smokey lithium property in Esmeralda County, Nevada.
Ahead of the filing, the company conducted extensive exploration and sampling throughout the summer in an effort to plan the drill zone at Smokey.
The recently submitted application outlines a drill program with four holes, which the company plans to expand to 15 holes pending results and analysis.
READ: Victory Resources credits “global resurgence in lithium prices” to increasing demand
As mentioned, Victory spent May and June conducting mapping and sampling using both a Laser Induced Breakdown Spectroscopy (LIBS) Analyzer and the collection of claystone samples which were submitted to ALS in Reno.
According to the company, values up to 630 parts per million (ppm) lithium were returned from the surface sampling.
“The LIBS results were often several times higher than the associated rock sample results, possibly due to the high summer heat and/or the unconsolidated nature of the samples, therefore these results could only be used qualitatively,” the statement read.
The company’s exploration team continued to conduct exploration activities through July in order to better understand the geology and confirm a strategy for drilling.
As a result of this work, seven sites for deeper sampling were chosen based on their elevated surficial lithium values. Utilizing the extensive exploration work and analysis conducted to date, the company's exploration team has identified drill targets that will determine whether a relationship exists to the high lithium zone on the adjacent Jindalee property.
Victory's Smokey lithium project is described as a clay lithium property that lies approximately 20 miles north of Clayton Valley, and 20 miles west of American Lithium's flagship lithium project.
Moving ahead, Victory plans to commence drilling in late fall, early winter pending permit approvals.
Contact the writer at georgia@proactiveinvestors.com