Victory Exploration Team Expands Smokey Lithium Area of Interest and Provides Extensive Advancement Plan
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY EXPLORATION TEAM EXPANDS SMOKEY LITHIUM AREA
OF INTEREST AND PROVIDES EXTENSIVE ADVANCEMENT PLAN
● Victory’s Exploration Team has conducted a comprehensive effort to
delineate significant lithium mineralization on the Smokey Lithium Property
● 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
● Based on results from these overall exploration efforts, the Company has
identified what it refers to as a high confidence area of approximately 2-3 square
kilometers and staked an additional 91 claims in this new Area of Interest
contiguous with the southwest part of the original claim block
VANCOUVER, BC, CANADA (20 October 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 conducted and assessed the results from its comprehensive
work to delineate its theorized lithium deposit on Smokey Lithium grounds.
Case for Smokey Lithium Property
Victory’s Exploration team had theorized that based on the nearby Jindalee
property; mineralized surface clays could be widespread similar to Clayton Valley. Due to
the buried nature of these clays, some field mapping, surface sampling and 3 drill holes
were carried out to confirm mineralized clay was in reach on Victory Ground.
• 1 of the 3 holes encountered mineralization, Hole 09, further validating Victory’s
theory for widespread buried mineralized clays, as announced on 31 May 2022
• 3 holes demonstrated the complexity of the subsurface structure and nature of the
clays
• It was decided to hold off on any additional drilling until strategies could be deployed
that would provide a better picture of the subsurface structure with respect to
bedding dips, mineralized vs. non mineralized clay characteristics etc. and faults
that would bound the deposit and or drop it too deep to be economically viable
Exploration Findings & Analysis
Following the drill program, the exploration team carried out additional detailed surface
mapping of outcropping beds of lithium mineralized claystone, a detailed analysis of assay
results on the various clay beds and finally a Tromino passive seismic survey to understand
the faulting that would bound the deposit’s edges.
All of this data has been processed and converted to geologic cross sections and
sophisticated maps, proprietary to the Company. Upon completion of the map work, a 2.5
sq km area (approx.) was identified as high priority for further exploration. This new Area of
Interest (AOI) resides within 91 newly staked claims and is contiguous with the southwest
part of the original claim block. Hole 09, which ended in mineralization, fits within the AOI.
Action Steps to Advance the new Smokey Lithium AOI:
1. Amend the existing and current permit to place holes on 1000 ft grid spacing over the
AOI
2. These holes will test the total mineralized depth of Hole 09
3. 500-1000ft grid spacing away from mineralized hole 09, such a distance to grow a
resource as well as manage risk
Summary of Findings and Actions
• Mineralized lithium clays exist on Victory’s ground as evidenced in Hole 09
• Tromino passive seismic and surface mapping has identified control boundaries for
the lithium discovered in Hole 09 (For example, faults, dipping of the beds etc.)
• Compiling all of this data has allowed the exploration team to generate cross
sections, geologic mapping and subsurface modelling with a high degree of
confidence of the subsurface
• This compilation presents to us an area 2-3km, with lowered risk, has a high
likelihood to intersect lithium rich clays via drilling and may indicate maiden resource
potential
“The exploration work conducted has been extensive, taking the necessary time to truly
understand the resource potential in order to identify the best possible drill target intercepts for
us to pursue at Smokey Lithium toward establishing the maiden resource potential of the
property,” said Victory President and CEO, Mr. Mark Ireton.
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.
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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
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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 -
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assumptions used in the preparation of such information, although considered reasonable at the time of
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