Victory’S Exploration Team Files Drill Permit Application FOR Smokey Lithium, Nevada
For Immediate Release
VICTORY’S EXPLORATION TEAM FILES DRILL PERMIT
APPLICATION FOR SMOKEY LITHIUM, NEVADA
EXTENSIVE EXPLORATION CONDUCTED THROUGHOUT THE SUMMER TO DEVELOP
DRILL TARGET ZONES
VANCOUVER, BC, CANADA (October 19th, 2021) – Victory Resources Corporation (CSE:
VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is excited to announce that the
Company has filed its drill permit application for its Smokey Lithium property in Esmeralda County,
Nevada.
Highlights of Smokey Lithium Advancement
• Victory conducted extensive exploration and sampling throughout the summer to identify
its approach to drilling the property
• Drill permit has been filed for a program with four holes, which the Company plans to
expand to fifteen holes pending results and analysis
• Plan is to commence drilling in late fall, early winter pending permit approvals
Through May and June, Victory’s exploration team conducted mapping and sampling using both
a Laser Induced Breakdown Spectroscopy (LIBS) Analyzer* and the collection of claystone
samples which were submitted to ALS in Reno. Values up to 630 ppm Li were returned from the
surface sampling. The LIB S results were often several times higher than the associated rock
sample results, possibly due to the high summer heat and/or the unconsolidated nature of the
samples, therefore these results could only be used qualitatively.
Victory’s exploration team continued to conduct exploration activities through July in order to
better understand the geology and confirm a strategy for drilling. Surficial sediment sampling
was conducted in the southwest and central zones of the property and taken from animal
burrows. In addition, seven sites for deeper sampling were chosen based on their elevated
surficial lithium values. Holes were dug and samples were taken from > 1 m deep in an attempt
to find claystone beneath the generally unconsolidated surficial sediment.
As a result of the extensive exploration work and analysis conducted to date, the Company’s
exploration team has identified drill targets that will determine whether a relationship exists to
the high Li zone on the adjacent Jindalee property.
Victory’s Smokey Lithium project is a clay lithium property that lies approximately 20 miles north
of Clayton Valley, and 20 miles west of American Lithium’s flagship lithium project. Smokey
Lithium is located 25 km northwest of Cypress’ Clayton Valley Lithium Project and 35 km
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 Smokey Lithium property is located 35 km west of Tonopah, Nevada within the Walker Lane
trans tensional corridor on the western margin of the Basin and Range province. The property's
geology consists of Miocene - Pliocene tuff deposits, claystones, and siliciclastic beds (Esmeralda
Formation) with overlying younger alluvium deposits and desert pavement formation. The
claystone, which can carry high lithium concentrations, is observed as highly weathered light grey
to tan mounds of unconsolidated cla y from 0.10 - 1.50 meters thick. The flat lying nature of the
claystones, together with the frequent occurrence of transported cover requires drilling to fully
validate and assess Smokey Lithium’s the potential as indicated by surface sampling.
Scientific and technical information contained in this press release was reviewed and approved
by Mr. Helgi Sigurgeirson, Victory Geologist, and a "qualified person" under NI 43-101.
* Laser Induced Breakdown Spectroscopy (LIBS) is a rapid chemical analysis tool that is used to
detect and characterize materials. Focusing a powerful laser pulse onto the surface of solid, liquid
or even gaseous matter is analyzed to determine the elemental composition of the sample.
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 th at 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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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 -
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although considered reasonable at the time of p reparation, 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
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