Victory's Exploration Team Encouraged by VRPDH-1 Claystone Intercept Appearance and Depth at Smokey Lithium, Nevada

Rhea-AI Summary

Victory Battery Metals has announced the completion of its first drill hole, VRPDH-1, at the Smokey Lithium Project in Nevada. The drill reached a depth of 540 feet, encountering 259 feet of claystone starting at 268 feet, confirming the deposit's depth beyond the previous Hole-09 which ended at 417 feet. The area shows promising lithium mineralization, supported by results from the 2022 drill program. The company is currently conducting the second drill hole, VRPDH-2, while preparing for assays from the first hole. This exploration aims to identify a potential maiden resource in an area known for lithium clay deposits. The project is strategically located near other significant lithium properties in Esmeralda County, highlighting its prospective nature for investors.

Positive

• Completion of VRPDH-1 drill hole confirms significant claystone depth at 540 feet.
• Encountered 259 feet of uninterrupted claystone, indicating strong lithium mineralization potential.
• Strategically located near other projects in a prolific lithium region, enhancing investment appeal.

Negative

• None.

• VRPDH-1 has successfully completed, intersecting claystone at 268 feet through to 527 feet, serving to verify deposit depth beyond where Hole-09 ended in strong lithium mineralization at 417 feet during the 2022 drill program
• Drill hole locations have been selected to extend strong lithium mineralization, intersected on initial drill program in 2022 in Hole-09 within the area of interest outlined in detail in the Company's press release dated 20 October 2022
• The project area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at surface. When combined with the highly encouraging results from Victory's first round drilling (completed in 2022) the project area is highly prospective

VANCOUVER, BC, / ACCESSWIRE / April 12, 2023 / Victory Battery Metals (CSE:VR)(FWB:R61)(OTC PINK:VRCFF) ("Victory" or the "Company") is excited to announce that the Company's exploration team has completed its first drill hole to a depth of 540 feet, encountering 259 feet of uninterrupted claystone beginning at 268 feet and extending to 527 feet. The team is currently in the midst of VRPDH-2 of its high-quality drill targets, having assembled and sent cores from VRPDH-1 for assay.

"Our team was very encouraged by the positive lithological correlation observed in this new VRPDH-1, which is comparing favourably to Hole-09 from our previous drill program," said Mr. Mark Ireton, Victory President, and CEO. "Prior to lab results, we are seeing indications that instill confidence in this programs goal to correlate the lithology of VRPDH-1 new hole to the previous Hole-09, and, significantly, we have been able to test to the bottom of the claystone, whereas 2022"s Hole-09 ended in significant claystone hosted lithium mineralization at 417 feet."

The claystones intersected below gravel cover in VRPDH-1 are dominantly grey to dark grey in color and contain abundant fine-grained calcite as noted by using hydrochloric acid during the logging process. It is suspected that the claystone has a high content of weathered volcanic ash and that the firm character of this formation is due to the presence of calcite cement interstitial to the clay size grains. (Figure 1)

Figure 1

Combining results from field mapping, surface sampling, drilling and Tromino passive seismic studies, the Company has developed proprietary maps showing highly detailed visual cross sections to understand the faulting that would bound the deposit's edges. Victory's 3-hole drill program focuses on a 2-3 km sq. area with lowered risk, having a high likelihood to intersect lithium rich clays via drilling, and may indicate maiden resource potential.

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.

The Company has entered into an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. For the 12-month term of the agreement from April 1^st, 2023, INN will provide advertising on its website and social media communications to increase awareness of the Company. INN does not provide investor relations or market making services. The cost of the campaign is $50,000 CAD. INN can be reached at 604-688-8231 or at www.investingnews.com or info@investingnews.com.

The Company has entered into an advertising and investor awareness campaign with Northern Venture Group. Northern Venture Group is a private company headquartered in Vancouver, Canada. For the 12-month term of the agreement from April 1st, 2023, Northern Venture Group will provide advertising on its website and social media communications to increase awareness of the Company. Northern Venture Group does not provide investor relations or market making services. The cost of the campaign is $4000 CAD per month only when services are provided during the month. Northern Venture Group can be reached at 250-967-0001 or rick@aheadoftheherd.com.

For further information, please contact:
Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: Info@VictoryBatteryMetals.com

About Victory Battery Metals
VICTORY BATTERY METALS (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 Corporation

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FAQ

What are the results from Victory Battery Metals' recent drilling at the Smokey Lithium Project?

Victory Battery Metals announced completion of drill hole VRPDH-1, confirming 259 feet of uninterrupted claystone, with a total depth of 540 feet.

How deep was the VRPDH-1 drill hole completed by Victory Battery Metals?

The VRPDH-1 drill hole was completed to a depth of 540 feet.

What does the claystone intersection at VRPDH-1 indicate for lithium mineralization?

The claystone intersection suggests strong lithium mineralization potential, extending beyond previous drill results from Hole-09.

Where is the Smokey Lithium Project located?

The Smokey Lithium Project is located in Esmeralda County, Nevada, approximately 20 miles north of Clayton Valley.

What is the significance of the VRPDH-1 drilling results for investors?

The drilling results indicate a high likelihood of intersecting lithium-rich clays, which may signal maiden resource potential, making it appealing for investors.