Victory Battery Metals (CSE:VR) (FWB:VR6) (OTCPink:VRCFF) acquires significant additional property in the James Bay lithium district adjacent to Patriot Battery Metals’ Corvette Property. The new acquisition of 280 claims totalling 14,375 hectares is a significant addition to the original 67 claims, which totalled 3,417 hectares, giving the company a large ground position in an underexplored area within an emerging lithium district.
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Victory Battery Metals Corp. (CSE:VR) (FWB:VR6) (OTCPink:VRCFF), a diversified investment corporation with mineral interests in North America, has acquired additional property in the James Bay lithium district adjacent to Patriot Battery Metals’ Corvette Property.
The new acquisition of 280 claims totalling 14,375 hectares is a significant addition to the original 67 claims, which totalled 3,417 hectares, giving the company a large ground position in an underexplored area within an emerging lithium district.
The Stingray claim blocks range from adjacent to Patriot Battery Metals’ Corvette lithium property, to several kilometers away, spanning more than 65 km of east to west strike length.
The new claims were acquired for a cash payment of $100,000 and 3 million shares.
Mark Ireton, President, stated: “Expanding Victory’s presence in this prime location is a priority, allowing us to consolidate the Company’s Stingray property array, streamline exploration efforts and establish a significant presence for further strategic acquisitions and or partnerships.”
The 7,486-hectare Kaanaan Block, consisting of 146 claims, is located approximately 2-3 km southeast and east of Patriot’s Corvette Lithium property.
It covers the eastern extension of major regional fault structure which represents the contact between the Archean metavolcanics and Archean granodiorites.
This major structure is believed to have controlled the emplacement of lithium bearing pegmatites within the Corvette Lithium Project.
The 4,370-hectare Lac Block, consisting of 92 claims, is located approximately 5 km south of the Corvette Lithium Property.
It covers multiple extensions of prospective metavolcanic unit which is a known host of lithium bearing pegmatites within the James Bay Area.
It surrounds and covers unexplored extension from Infinity Stone Ventures (CSE:GEMS) Hellcat Project where they have identified 5 pegmatites within the greenstones.
The 2,159-hectare Riviere Block, consisting of 42 claims, is located approximately 8 km southwest of the Corvette Lithium Property.
It is located adjacent to major east-west trending regional structure and geological contact zone between tonalite/granodiorite and metavolcanic/metasedimentary units.
The James Bay Region of Quebec is composed of the Superior Province.
This Archean craton has been deformed by various orogens over time, creating large fault zones containing gold, lithium, copper, zinc, and silver mineralization.
The majority of the new Stingray claims lie along the same rock unit that has been previously mapped by Patriot Battery Metals, which contains lithium-bearing pegmatites up to 20 km in length with Li2O values as high as 1280 ppm.
Patriot Battery Metals recently reported significant lithium potential highlighted by the 2.6 km long CV5 spodumene pegmatite with drill intercepts of 156.9 m at 2.12% Li2O, including 25.0 m at 5.04% Li2O or 5.0 m at 6.36% Li2O, 159.7 m at 1.65% Li2O, 131.2 m at 1.96% Li2O, and 52.2 m at 3.34% Li2O, including 15.0 m at 5.10% Li2O.
Management cautions that mineralization found on the Corvette property may not be indicative of mineralization on its Stingray properties.
The company is currently raising up to $2 million from a combination of regular and flow-through units.
As its acquisition constitutes a material change, the company has amended its offering document and has also filed a French version allowing Quebec residents to participate under the new listed issuer financing exemption.
The shares are trading at $0.115.
For more information on the company and its other properties, please visit the company’s website www.VictoryBatteryMetals.com, contact Mark Ireton, President, at 236-317-2822 or by email at info@VictoryBatteryMetals.com.
