Victory Resources Corp (CSE:VR, OTC:VRCFF) said the first phase of the drill program at its Smokey Lithium Property in Nevada, USA, was now complete and the company is awaiting lab assays.
This initial program, of three holes, out of a 15-hole program ultimately, was aimed at identifying lithium-bearing clays, similar to those discovered at surface by Jindalee, the neighboring property.
Before this work there had been no previous drilling at Smokey Lithium, so is it important to sample each hole extensively until basic geochemical data has been acquired, noted Victory in a statement.
Victory is optimistic about the results as the third hole sunk encountered Esmeralda claystone lithologies within 35 feet (ft) of surface with minimal overburden. The hole, terminated at 520 ft, showed "lots of favorable lithologies for hosting lithium throughout most of the hole", the firm said.
READ: Victory Resources starts drilling at Smokey lithium property in Nevada
Another hole in the northeastern portion of the property, hit 311 ft of complex alluvial materials, while a third in the southwest, near the projected strike of the fault, hit 257 ft of alluvial material, followed by Esmeralda formation sediment through 417 ft, but the latter had minimal claystone.
Victory told investors that a total of 151 samples have been submitted to ALS for assay work, and four-ft sample intervals were used within the Esmeralda intersections.
"Upon receiving the results of the first drilling phase, the company remains positioned to carry out additional drilling if the lab data warrants it," it added.
Victory Resources’ Smokey lithium project is a clay lithium property around 20 miles north of Clayton Valley, and 20 miles west of American Lithium's flagship lithium project and its Black Diablo copper property.
It also lies 25 kilometers (km) northwest of Noram's Zeus Lithium Project and 35km southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada.
Esmeralda County is a prolific region for lithium clay deposits (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee).
Contact the writer at giles@proactiveinvestors.com