Victory Resources acquires Rich Lake lithium property

Jun 27, 2016

VICTORY ANNOUNCES RICH LAKE ACQUISITION

Victory Resources Corp. has increased its landholdings designated as the Rich Lake lithium property, located 360 kilometres north of Thunder Bay, and within 20 kilometres of Fort Hope in north-central Ontario. The property is situated within the Fort Hope greenstone belt which hosts numerous pegmatite dykes, which have been explored for their lithium and precious metal mineralization since the 1950s. As interest and demand in lithium minerals have increased significantly, driven by the increased importance and production of lithium-ion batteries as the next-generation power source, the search for lithium has been renewed with many historically explored lithium properties under investigation.

Victory is in active discussions with qualified parties to possibly form a joint venture with a goal to create an exploration program of trenching, prospecting, sampling and a magnetometer survey to locate potentially economic mineral zones within the known pegmatites, and to explore the property for additional mineral-bearing pegmatites and a potential gold resource.

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