Victory Drills 137 FT at 1023 LI PPM, Including 85 FT at 1267 LI PPM with a High Intercept of 1620 LI PPM IN Its 23-01 Drill Hole at Its Smokey Lithium, Nevada Property
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY DRILLS 137 ft AT 1023 Li PPM, INCLUDING 85 FT AT 1267
Li PPM WITH A HIGH INTERCEPT OF 1620 Li PPM IN ITS 23-01 DRILL
HOLE AT ITS SMOKEY LITHIUM, NEVADA PROPERTY
● Victory’s exploration team’s analysis of its Phase 2 drill program is highlighted by
strong correlations extending the high-grade intercepts from the Phase 1 2022
drill program on its 22-09 and 23-01 holes, featuring higher ppm Li results
● The drill program included 4 holes, with a combined total of 1966.5 feet of drilling
● As a result of initial analysis, Victory made the decision to stake 100 new lode
claims as announced on 12 June 2023, expanding the property by 2066 acres to
5691 acres
VANCOUVER, BC, CANADA (14 June 2023) – Victory Battery Metals (CSE: VR) (FWB: VR6)
(OTC: VRCFF) (“Victory” or the “Company”) is excited to announce the drill results from its
Phase 2 drilling program at its Smokey Lithium Nevada property, which include a strong
correlation to its Phase 1 2022 drill program confirming a significant area of interest and positive
indications for continued exploration.
Highlights
• Hole 23-01 – From 264 feet to end of hole 536.5 feet, intersected 695 parts per million
(“ppm”) lithium in claystone, including 858 ppm Li over 210 feet from 327 feet to 537 feet,
1023 ppm Li over 137 feet from 391 feet to 528 feet, and 1267 ppm Li over 85 feet from
434 feet to 519 feet. Hole 23-01 maximum intercept of 1620 ppm Li occurred over 8 feet
from 464 feet to 472 feet.
• Hole 23-01 compares favourably to Hole 22-09 from our previous drill program, correlating
in lithology but with higher Li ppm values to 22-09, achieving a main objective of this drill
program to test the bottom of the claystone, noting that 2022’s Hole-09 ended in significant
claystone hosted lithium mineralization at 417 feet. See (Figure 1).
• Planned for a 3-hole program, the Company expanded to 4 holes as announced on 25
April 2023.1 Hole 23-02 reaching claystone at 11 f eet and being terminated at 155 f eet
due to adverse ground conditions that involved swelling clay and the collapse of the hole.
Hole 23-03 was drilled to a depth of 617.5 feet, averaging 218 ppm Li for 64.5 feet from
203.5 feet to 268 feet.
• Hole 23-05 intersected claystone at surface and averaging 303 ppm Li from surface to
220 feet, with highest intercepts of 620 ppm Li for 9.5 feet from 77.5 feet to 87 feet, 530
ppm Li for 9.5 feet from 134.5 feet to 144 feet, and 410 ppm Li for 9 feet from 192 feet to
201 feet.
Mr. Mark Ireton, Victory President and CEO notes: “Victory’s exploration team is highly
encouraged by the correlation between holes 22-09 and 23-01 (see Figure 2), which identifies an
extension of the highly mineralized zone identified in the Phase 1 drill program last year . Drill
programs provide information on where exploration and future drilling needs to be focused and
on where it does not, in this case beyond the information that ppm Li provides, interestingly, the
claystone intercepted beginning at surface on hole 23-05 has characteristics that are of high
interest to our team and require continued analysis in relation to significant deposits that exist in
the region. As noted on 12 June 2023, the Company has expanded the Smokey Lithium property
by 100 lode claims in response to preliminary analysis in order to protect the interests of the
project going forward.”
325 417 92 640
373 409 36 857
327 537 210 858
391 528 137 1023
434 519 85 1267
Hole 22-09
Including
Hole 23-01
Including
and
Figure 1 - Lithium Mineralization
Interval Length
(ft)
Lithium
avg value
(
ppm)From (ft) To (ft)
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
Analysis and Statement of Qualified Person
Drilling of the property is still at an early stage with 7 holes now completed. Strong lithium
mineralization within claystone units of the Esmeralda Formation have been intersected at depth
below gravel cover in holes 22-0 9 and 23-0 1. Encouragingly , the final hole of the spring 2023
program intersected mineralized claystone at surface in hole 23-05. This hole is a large step out
from the mineralized area around 22-09 and 23-01. While the mineralization was hit in the first
drill interval in 23-05, thin soil cover obscures the presence of these lithium mineralized claystone
units at the ground surface. Hole 23-05 opens a new area for exploration of on the property and
within the new extension to property recently staked. This portion of the property has not been a
focus area from prospecting previously and when combined with the large extension to the
property via the newly staked 2000+ acres of ground, a high priority target area presents itself.
The at surface position of the claystones in 23-05 opens up a new avenue for exploration where,
for instance, shallow soil sampling with an auger could be used to quickly map new areas of thinly
concealed mineralization over a large area in the southwest portion of the property.
The Company continues to analyze its overall results from all exploration activities, combining
two drill programs, field mapping, surface sampling, and Tromino passive seismic studies, to
develop the most complete picture for ongoing exploration plans at Smokey Lithium. The project
area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at
surface. When combined the project area is highly prospective.
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.
1 https://www.victorybatterymetals.com/victory_expands_its_smokey_lithium_drilling_program_building_on_encouraging_in_field_assessment
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).
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 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
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information currently available to management. Often, but not always, forward -looking statements can be
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Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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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 -
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