Victory Advances Smokey Lithium Exploration with Completed Ground Sample Program

Rhea-AI Summary

Victory Resources Corporation has made significant progress in its exploration efforts at the Smokey Lithium Property in Nevada. The company has completed an extensive ground sampling program, leading to favorable results that will guide future drilling efforts. The ground sampling identified a zone of higher lithium values and enabled strategic mapping to locate clay beds. Additionally, the company anticipates expediting a revision to its drilling application, optimizing drill hole placements. The announcement also welcomed Mr. Gerald Tritt as a new director, bringing valuable experience to the leadership team.

Positive

• Successful completion of a ground sampling program at Smokey Lithium Property.
• Identification of a zone with higher lithium values, aiding in future drilling.
• Anticipation of a favorable revision to the drilling application for refined drill locations.
• Appointment of Gerald Tritt, enhancing company leadership with diverse experience.

Negative

• None.

• Victory's Exploration Team is engaged in a comprehensive effort to d to delineate and extend significant lithium mineralization on its Smokey Lithium Property
• In response to drilling results, the Company has completed an extensive ground sampling program aimed at helping to develop a clear picture of the best potential drill locations for its next round of drilling
• Based on results from its overall efforts, the Company anticipates a beneficial revision to its drilling application with the relocation of several holes, which will be an expedited process once undertaken

VANCOUVER, BC / ACCESSWIRE / June 28, 2022 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that the Company's exploration team has completed an extensive ground sampling program, building upon favourable drill results, aimed at guiding prime drill locations for its next round of drilling on the Company's Smokey Lithium Property in Nevada.

The ground sampling program focused on sampling the Esmeralda Formation on and throughout the surrounding grounds of the Smokey Lithium property and has led to the Company locating a zone of higher values to the south and southwest. Mapping was done to locate controls on lithium clay deposition and locate clay beds, which have informed additional staking to protect the interests of Company.

"We are continuing our exploration efforts at the property through a combination of surface sampling, geologic mapping and geologic modeling all aimed at providing additional drill targets," said Victory President and CEO, Mr. Mark Ireton. "Victory is focused on expanding the footprint of the subsurface claystone hosted lithium mineralization in its maiden drill program and our exploration team is actively working the property and environs to do so."

On behalf of the Victory Resources leadership team and board, the Company is pleased to welcome entrepreneur, Mr. Gerald Tritt, as a Director. Mr. Tritt is an accomplished business leader, with vast experience in capital markets as an early-stage investor with multiple ventures, and within the hospitality industry as the Co-Founder and Co-Owner of several restaurant concepts, most recently the Vera's Burger Shack chain. Earlier in his career he served in senior management positions of both national and international hospitality groups. As an investor in multiple start-ups across multiple industries, Mr. Tritt brings tremendous firsthand capital markets experience including an extensive network, corporate governance, and a strong private equity background.

About Smokey Lithium, Nevada

Victory's Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, to the west of American Lithium's flagship lithium project. Smokey Lithium is located northwest of Cypress' Clayton Valley Lithium Project and to the southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada. Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee).

The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a Qualified Person as defined under National Instrument 43-101.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also actively seeking other exploration opportunities.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corp.

View source version on accesswire.com:
https://www.accesswire.com/706702/Victory-Advances-Smokey-Lithium-Exploration-with-Completed-Ground-Sample-Program

FAQ

What are the recent developments for Victory Resources Corporation (VRCFF)?

Victory Resources has completed a ground sampling program at its Smokey Lithium Property, leading to better insights for future drilling.

How does the ground sampling impact Victory Resources' drilling plans?

The ground sampling provided valuable information, allowing the company to relocate drill holes, improving the efficiency of their drilling application.

Who is Gerald Tritt in relation to VRCFF?

Gerald Tritt has been appointed as a new director, bringing extensive experience in capital markets and entrepreneurship.

What are the key focuses of Victory Resources' exploration efforts?

The company is focused on delineating lithium mineralization and developing prime drilling locations based on surface sampling and geologic mapping.

Where is the Smokey Lithium Property located?

The Smokey Lithium Property is located approximately 20 miles north of Clayton Valley in Nevada.