InvestmentPitch Media Video Discusses Victory Battery Metals’ Start of its Second Phase Drilling Program on its Smokey Lithium Property in Nevada

Rhea-AI Summary

Victory Battery Metals Corp. (CSE:VR) (FSE:VR6) (OTCPink:VRCFF) has initiated its second phase of drilling at the Smokey Lithium Property in Nevada, focused on expanding lithium mineralization that was identified in a prior program. This drilling aims to identify further resources in a high-priority area recognized from prior surface mapping and analysis. The new drill targets are positioned strategically, 500 to 1,000 feet away from previously mineralized intersections. CEO Mark Ireton emphasized the team's confidence in resource potential, looking to establish a maiden resource for the property. Shares are currently trading at $0.065.

Positive

• Second phase drilling program initiated to expand lithium mineralization.
• Drill targets selected based on previous successful intersections, indicating potential resource growth.
• Strategic drilling locations aim to mitigate risk while exploring new areas.

Negative

• None.

VANCOUVER, British Columbia, March 22, 2023 (GLOBE NEWSWIRE) -- Victory Battery Metals Corp. (CSE:VR) (FSE:VR6) (OTCPink:VRCFF), a diversified investment corporation with mineral interests in North America, has started its second phase drilling program on its Smokey Lithium Property in Nevada. The Smokey Lithium property is located in Esmeralda County, a prolific region for lithium clay deposits, approximately 20 miles north of Clayton Valley, home to the only producing lithium operation in the US at Silver Peak, and 20 miles west of American Lithium’s flagship lithium project. The property surrounds the Jindalee Clayton North property on three sides, with excellent access and relatively flat ground.

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For more information about this news, please view the InvestmentPitch Media video. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Victory” in the search box.

Victory’s second phase 3-hole drill program, which is expected to be completed within a 2 to 3-week period, weather permitting, includes high quality drill targets which have been selected to extend strong lithium mineralization intersected during the initial drill program in 2022. In October 2022, the company reported that Hole 09 ended in significant, claystone hosted, lithium mineralization at 417 feet.

Following the initial drill program, the exploration team carried out additional detailed surface mapping of outcropping beds of lithium mineralized claystone, a detailed analysis of assay results on the various clay beds and finally, a Tromino passive seismic survey to understand the faulting that would bound the deposits edges. All of this data has been processed and converted to geologic cross sections and sophisticated maps, proprietary to the company.

Upon completion of the map work, an approximate 2.5 sq km area was identified as high priority for further exploration. Management believes the new drill targets, being drilled 500 to 1,000 feet away from Hole 9 in order to potentially grow a resource as well as manage risk, are a perfect combination of step out drilling on a previous mineralized intersection along with grassroots targets of the claystone sediments within the Weepah Detachment fault and underlying claystones of the Esmeralda Formation.

Additional exploration goals of the drill program include drilling through the locally mineralized sediments above the Weepah Detachment Fault, potentially into mineralized Esmeralda Formation sediments. This is important to grow Victory's understanding of a significant area of known lithium mineralisation including potentially important claystone hosted lithium discoveries made in 2017 by Jindalee Resources to the immediate south of the property. Outcropping clay on Jindalee’s property demonstrated lithium grades as high as 930 ppm which appeared to trend northwest perhaps onto Victory’s Smokey Lithium Property.

Mark Ireton, President and CEO, stated: “Building on our extensive exploration on Smokey Lithium, our team has a high level of confidence in our understanding of the resource potential, which has informed the locations of the drill target intercepts now underway and, which are aimed at establishing the maiden resource potential of the property.”

The shares are trading at $0.065. For more information on the company and its other properties, please visit the company’s website www.VictoryBatteryMetals.com, contact Mark Ireton, President and CEO, at 236-317-2822 or by email at info@VictoryBatteryMetals.com.

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FAQ

What is the current drilling program for VRCFF?

Victory Battery Metals has started a second phase drilling program at the Smokey Lithium Property in Nevada.

What are the goals of the second phase drilling for VRCFF?

The second phase aims to extend lithium mineralization identified in the initial drill program.

How far are the new drill targets from previous drilling for VRCFF?

The new drill targets are located 500 to 1,000 feet away from the previous successful intersections.

What is the current stock price of VRCFF?

The shares of Victory Battery Metals are currently trading at $0.065.

When is the second phase drilling expected to be completed for VRCFF?

The second phase drilling is expected to be completed within a 2 to 3-week period, weather permitting.