Victory Announces Smokey Lithium Drill Program Results FOR Phase One, Including Lithium Values up to 1270 PPM
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY ANNOUNCES SMOKEY LITHIUM DRILL PROGRAM
RESULTS FOR PHASE ONE, INCLUDING LITHIUM VALUES UP TO
1270 PPM
● Results up to 1270 ppm and key lithium bearing sections averaging up to 857
ppm
● Exploration team has high confidence in their theory that a down-dropped clay
deposit exists, and the phase one drill program results has provided valuable
information to locate the extension of the lithium clays ‘buried at depth’
● Results to date have guided additional staking, which the Company advanced for
competitive reasons prior to announcing drill results
VANCOUVER, BC, CANADA (May 31st, 2022) – Victory Resources Corporation (CSE: VR)
(FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that the
Company’s exploration team has received lab results from its phase one, three of 15-hole drill
program and as a result of its analysis has staked additional ground based on its geologic model
of the target lithium deposit.
“The Victory exploration team has advanced the Smokey Lithium property substantially through
the analysis of lab results, and upon those strong results through the additional staking which was
conducted for competitive reasons to protect the Company’s interests,” said Mr. Mark Ireton,
Victory President, and CEO. “The Company’s exploration team has advanced this property based
on its theory that a significant lithium deposit is buried at depth along the adjacent Jindalee
boundary margins nearest to the fault line. We want our shareholders to understand that of the
three holes, one had impressive lithium values, and the other two provided important information
as to the potential location and boundaries of a Li deposit. In total, the drill results from all three
holes guided the additional staking so that the Company can continue to define what it believes
is a significant lithium deposit buried at depth.”
Phase One Drill Program Results and Analysis Highlights
Overview
Victory executed a n initial program of three drill holes with the goal a imed at locating lithium -
bearing clays, similar to what has been discovered at surface by J indalee, the neighboring
property.
A northeast/southwest oriented fault becomes obscure on either end as it trends into Victor y’s
property. Victory’s exploration team theorizes that an extension of the lithium bearing clays ,
identified by Jindalee, would likely exist under the Victory property.
Summary
Victory’s Phase One drilling program produced favorable results. This initial drill program was
designed to look at a wider area of the property, measure the normal fault’s displacement, and
prove lithium deposits in the subsurface.
Three holes were completed as previously announced: Holes 05, 09, and 15.
• Hole 05 encountered a large section of interesting clays from 120 to 158 feet. However,
significantly enriched lithium was not encountered. Hole 05 is on the down -dropped side
of the NE-SW striking normal fault. This mapped structure is thought to have displaced
the known lithium bearing section to depths deeper than the exploration hole was
advanced.
• Hole 09 ended in mineralization at 417 feet (Table 1). The highest single sample interval
(1270 ppm) for Phase 1 was found at 377-381 feet. The lithium values for depths 325-417
feet range from 240 -1270 ppm. The average lithium value from this portion is 640 ppm.
From 373 to 409 feet, the average lithium value is 857 ppm. The aforementioned section
of core was chosen because it has sampled intervals with lithium values greater than 1000
ppm. It must be noted that at 417 feet where drilling stopped, the lithium deposit was
present, and at this time Victory does not have the information to determine the full depth
of the intersected lithium mineralization.
• Hole 15, located on the down -dropped side of the fault, intersected 312 feet of poorly
consolidated sands and sandy conglomerates. The target zone was not intersected and
is now thought to occur at deeper levels due to the down dropping on the mapped normal
fault.
Table 1.
Hole 09 Lithium Mineralization
Interval
Length
(ft)
Interval
Length
(m)
Lithium
avg
value
(ppm)
From
(ft)
To
(ft)
From
(m)
To
(m)
325 417 92 99 127 28 640
373 409 36 114 125 11 857*
*As noted above the narrower, higher-grade intercept, is included in the longer interval.
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 deposit s, (Noram, Cypress, American Lithium,
Spearmint, Enertopia, and Jindalee).
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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: [email protected]
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, sta tements 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
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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 impa ct 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
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securities laws.