Canadian company developing lithium project in Esmeralda County

Victory Resources Corporation has filed its drill permit application for its Smokey Lithium property in Esmeralda County, according to the press release.

Victory conducted extensive exploration and sampling throughout the summer to identify its approach to drilling on the property. A drill permit has been filed for a program with four holes, which the company plans to expand to fifteen holes pending results and analysis, the release said.

The company plans to commence drilling in late fall, early winter pending permit approvals.

Victory’s exploration team conducted mapping and sampling through May and June using both a Laser Induced Breakdown Spectroscopy (LIBS) Analyzer and the collection of claystone samples, which were submitted to ALS in Reno.

Values up to 630 ppm Li were returned from the surface sampling. The results were often several times higher than the associated rock sample results, possibly due to the high summer heat and/or the unconsolidated nature of the samples, therefore these results could only be used qualitatively.

Victory’s exploration team continued to conduct exploration activities through July to better understand the geology and confirm a strategy for drilling. Surficial sediment sampling was conducted in the southwest and central zones of the property and taken from animal burrows.

In addition, seven sites for deeper sampling were chosen based on their elevated surficial lithium values. As a result of the extensive exploration work and analysis conducted to date, the company’s exploration team has identified drill targets that will determine whether a relationship exists to the high Li zone on the adjacent Jindalee property.

Victory’s Smokey Lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, and 20 miles west of American Lithium’s flagship lithium project. Smokey Lithium is located 25 km northwest of Cypress’ Clayton Valley Lithium Project and 35 km southwest of American Lithium Corporation’s Tonopah Lithium Claims Property in southwestern Nevada.

Esmeralda County is a prolific region for lithium clay deposits such as Noram, Cypress, American Lithium, Spearmint, Enertopia, and Jindalee, the release said.

The Smokey Lithium property is within the Walker Lane trans tensional corridor on the western margin of the Basin and Range province. The property’s geology consists of Miocene - Pliocene tuff deposits, claystones, and siliciclastic beds (Esmeralda Formation) with overlying younger alluvium deposits and desert pavement formation.

Victory Resources Corporation is a Canada-based, publicly traded junior international mining corporation with interests in North America.