Victory Resources Corporation revealed that its exploration team has advanced the drilling program on its Smokey clay lithium property in Nevada, where it has identified drill targets that will determine whether a relationship exists to the high lithium zone on the adjacent Jindalee property.
As previously noted, the company's initial three holes of a 15-hole drilling exploration program aim to prove geologic concept, specifically, to test along the Jindalee boundary margins, nearest to the fault line to reduce the depths required to reach clays and attempt to capture the full thickness of the claystone, to discover the grade and thickness of an intercept.
The Vancouver-based diversified traded diversified investment corporation with mineral interests in North America, said progress to date indicates “significant” potential lithium-bearing claystone in the first of three holes drilled, based on visual assessment from the exploration team, with samples now being prepared and sent to ALS for assay.
READ: Victory Resources starts drilling at Smokey lithium property in Nevada
As no drilling has occurred prior to this program on Smokey Lithium it is important to sample each hole extensively until basic geochemical data has been acquired, said the company.
The company shared a few highlights from the initial hole:
- The first hole has been drilled in the southwest part of the property near Jindalee's boundary and adjacent to the main fault structure to test Victory's theory related to the dropped down clays. Subsequent holes will be based on the results of the initial hole
- Drilled to a total depth of 417 feet, including unconsolidated surface materials, bands of olive-green clay, sandstone with pebble conglomerate, grey mud/clay semi-lithified and varved claystone, based upon visual review
- The company anticipates a total of 100 samples for the first hole plus 10 standards/blanks inserted into the chain
"Results from the first hole have guided decision making on the second and third hole locations, and the company will provide progress on the overall drilling program as we progress," Victory CEO Mark Ireton said in a statement. "Preliminary indications, upon visual analysis, are encouraging in terms of the clay intersects and information our geo team is analyzing toward the proof of theory around the potential deposit at Smokey Lithium."
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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