September 20, 2021
- Lithium prices reaching three-year highs in midst of demand surge1
- Victory’s Smokey Lithium Property in prolific Li region
- Company focused on advancing exploration efforts
VANCOUVER, BC, CANADA (September, 20th 2021) – Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) is pleased to provide an update, reinforcing the Company’s strategic efforts, led by its lithium exploration in Nevada.
“With the Smokey Lithium property, located in Esmeralda County, which is part of a prolific Lithium area, Victory is committed to lithium exploration at a time when there is a global resurgence in lithium prices related to heightened demand for battery minerals2,” said Mr. Mark Ireton, Victory CEO. “We are seeing the highest lithium prices in more than three years as the EV revolution accelerates, and Victory is well positioned, and anticipating further advancement on Smokey Lithium in the near term.”
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 Noram’s Zeus Li 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, 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 clay 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.