Victory Completes Smokey Lithium Drilling Program Phase One
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY COMPLETES SMOKEY LITHIUM DRILLING PROGRAM
PHASE ONE
● Phase One, 3 of 15-hole Drill Program, is focused on determining the relationship
to High Li Zone on the adjacent Jindalee Property
● Exploration team is optimistic, as the third hole drilled demonstrated as thick
sequence of claystone/siltstone with minimal overburden
● Geologic data from core logging is being combined with surface geologic
mapping previously completed on the property. The goal is creation of a
preliminary geologic model of the target sedimentary sequence
● Results from split core delivered ALS Chemx are pending, when received and
combined with geologic learnings from which will inform next steps as Victory
pursues its theory that the down dropped clay presents an opportunity to locate
the extension of the lithium clays ‘buried at depth’
VANCOUVER, BC, CANADA (March 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 completed its drilling program on the Company’s Smokey
Lithium Property in Nevada.
As previously noted, t he Company’s initial 3 of 15 -hole drilling exploration a ims to prove its
geologic concept, specifically, to test along the Jindalee boundary margins, nearest to the fault
line to reduce the depths required to reach clays and attempt to capture the full thickn ess of the
claystone, in order to discover the grade and thickness of an intercept.
As no drilling has occurred prior to this program on Smokey Lithium, is it important to sample each
hole extensively until basic geochemical data has been acquired.
Drill Program Approach and Initial Highlights
Overview:
Victory executed an initial program of 3 drill holes with the goal aimed at locating lithium bearing
clays, similar to what has been discovered at surface by Jindalee, the neighboring property.
A northeast/southwest oriented fault becomes obscure on either end as it trends into Vic tory’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. However, pending lab results,
it is unknown as to the depths required to intercept this possible lithium enriched clay unit.
The target of the drilling is the regionally mineralized Esmeralda formation sediments which
underlie the property. These sediments are composed of a complex suite of lithologies ranging
from sandstones, conglomerates, claystones and volcanic ash rich units . Faulting has occurred
displacing these sedimentary units and later variably filled with quaternary alluvial materials,
namely sands and gravels. The contact between silty, sandy gravel units which are overburden
and those belonging to the underlying Esmeralda Formation is not easily seen in the core, further
detailed logging is planned once lithium assays have been received.
The results given in the initial 3-hole program yielded variably results and are summarized
below:
• SL-21-09 - Southwest, near the projected strike of the fault, intercepted 257 feet of alluvial
material, followed by Esmeralda formation sediment through 417 feet. Although the
Esmeralda formation was encountered. It consisted of a suite of varved siltstones with
minimal claystone.
• SL-21-15 - Northeastern portion of the property, intercepted a total of 311 feet of complex
alluvial materials. The position of this complex section of conglomerates, silty sandstones,
and local clay matrix sedimentary breccias withi n the stratigraphy of the basin is being
examined in detail.
• SL-21-05 - This hole, Approx. 700 yards northwest from Hole SL -21-09; Encountered
Esmeralda claystone lithologies within 35 feet of the surface. This hole demonstrated lots
of favorable lithologies for hosting lithium throughout most of the hole. This hole was
terminated at 520 feet.
Summary:
The goal was to identify lithium bearing, Esmeralda clays within an obscure, alluvial covered
surface. Further, adding to the complexity of the task is faulting with unknown displacement.
The first 3 holes essentially provides the team with a look into the subsurface. It has been learned
that the overburden is relatively superficial cover but is variable in thickness.
Below the recent age cover gravels, thick sections of Esmeralda Formation have been
intercepted. The Esmeralda stratigraphy logged from the drill core displays sedimentary units
including well developed claystones, mudstones and clay, silt and sand matrix conglomerates.
Further drilling will be required to properly map the subsurface geology of the Esmeralda
Formation lithologic pack age. In particular Victory is focused on mapping the near surface
distribution of well mineralized Esmeralda claystones previously identified on the neighboring
Jindalee property.
The Company’s exploration team is very optimistic, primarily given the logged geologic results of
the SL -21-05 drill hole. It demonstrated a thick sequence of claystone/siltstone with minimal
overburden. More data is required to address questions as a result of the drilling and observations
of the exploration team. Questions include defining the strike and dip orientation of the target,
regionally lithium mineralized Esmeralda age section which underlies the property. This will allow
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
for construction of an early-stage geologic model and help guide targets for additional drill
programs.
Upon receiving the results of the first drilling phase, the Company remains positioned to carry out
additional drilling if the lab data warrants it.
A total of 151 samples have been submitted to ALS for assay work. 4-foot sample intervals were
used within the Esmeralda intersections. Further, QA/QC protocols were put into place whereas
standards and blanks were inserted randomly within the sample chain, 1 per each 10 samples.
ALS Lab results are anticipated to be received in the next couple weeks.
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, Cypre ss, 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: [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.
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