Victory Resources Corporation Speeds Up Licensing Process at Smokey After Identifying High Lithium Values



Victory Resources Corporation () (OTCPINK: VRCFF) (FRA: VR61) said it was accelerating a drilling permit application for its Smokey lithium project in Nevada after receiving strong results from the recently completed geological sampling program.

The explorer aims to start drilling in late summer or early fall.

Lithium prices have risen much of the past year, as demand from the electric vehicle industry increases. The value of lithium carbonate, in particular, has climbed 120% since July 2020.

READ: Victory Resources Reveals Strong Initial Results and Highly Anomalous Zone at Smokey Lithium, Nevada

Victory Resources’ Smokey is a lithium clay property located in Esmeralda County, 20 miles from Albemarle Corp’s Silver Peak Mine (NYSE: ALB) (FRA: AMC) and 20 miles west of ‘s () (OTCMKTS: LIACF) (FRA: 5LA1) flagship lithium project.

“Esmeralda County is part of a prolific lithium zone, and with sampling results of up to 1,500 parts per million (ppm) lithium (Li) at Smokey Lithium, Victory has an important role in heart of the region, ”said Mark Ireton, president and CEO said in the statement.

“The compelling results we have received from Smokey Lithium indicate that initiating a drilling program on the property is currently our top priority. Victory’s exploration team is deployed in Nevada, which puts us in an ideal position to seize this opportunity quickly and investigate the indicated potential of Smoked Lithium. “

Further sampling in the southwest area showed values ​​well above 1000 ppm Li and revealed a highly anomalous area approximately 1.5 kilometers in diameter.

The central zone of the property also exhibits high lithium values ​​and may be linked to the high lithium zone on the adjacent Jindalee property.

In June, Victory’s exploration team completed mapping using a Laser Induced Fracture Spectroscopy (LIBS) analyzer. A sampling program focused on collecting clay samples was also carried out.

Currently, the exploration team is planning their drilling program, using the results of their recently completed sampling program to prepare the required drilling request.

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