Victory Finalizes Drilling Program Agreement FOR Its Smokey Lithium, Nevada Property
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
For Immediate Release
VICTORY FINALIZES DRILLING PROGRAM AGREEMENT FOR ITS
SMOKEY LITHIUM, NEVADA PROPERTY
● Victory secures drill team in highly competitive market to ensure its Smokey
Lithium project can advance expediently pending drill permit amendment
approval
● Drill hole locations have been selected to extend strong lithium mineralization
intersected previously on the property in hole 09 within the area of interest
outlined in detail in the Company’s press release dated 20 October 2022
● 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
VANCOUVER, BC, CANADA (28 February 2023) – Victory Battery Metals (CSE: VR) (FWB:
VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to announce that the Company
has reached an agreement, securing the equipment and services to conduct its drilling program
with the newly identified hole locations in the area of interest contiguous with the southwest part
of the original claim block for its wholly owned Smokey Lithium Property in Nevada, once its drill
permit amendment is approved.
Victory’s amended drill permit application includes the new high quality drill targets. The
proposed program seeks to extend strong lithium mineralization intersected previously on the
property’s hole 09, which ended in strong, claystone hosted, lithium mineralization at 417 feet.
“In anticipation of Smokey Lithium’s amended drill permit approval, the Company has secured
drilling capabilities in what is an extremely competitive market, to ensure the exploration can
advance in short order,” said Victory President and CEO, Mr. Mark Ireton. “The permit
amendment is designed to place holes on 500-1000 foot grid spacing over the Area of Interest,
testing the marginalized depth of Hole 09 at such a distance to grow a resource while managing
risk.”
The planned second round drill targets are a perfect combination of step out drilling on previous
a mineralized intersection along with grassroots targets of claystone sediments within the
Weepah Detachment fault and underlying claystones of the Esmeralda Formation. The project
area and surrounding lands show strong lithium mineralization with the Esmeralda Formation at
surface. When combined with the highly encouraging results from Victory’s first round drilling
(completed in 2022) the project area is highly prospective. Only a handful of holes have ever
been drilled within the project and surrounding areas, leaving robust potential for additional
discoveries of lithium mineralized claystones.
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 initial 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.
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 a 2-3km area with lowered risk, having a high likelihood to
intersect lithium rich clays via drilling, and may indicate maiden resource potential
About Smokey Lithium, Nevada
Suite #1780, 355 Burrard St., Vancouver, BC, Canada, V6C 2G8
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.
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
the Company. Such forward- looking information reflects management's current beliefs and is based on
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assumptions used in the preparation of such information, although considered reasonable at the time of
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