Vancouver, British Columbia--(Newsfile Corp. - February 7, 2024) - Victory Battery Metals Corp. (CSE: VR) (FSE: VR6) (OTC Pink: VRCFF), a diversified investment corporation with various mineral interests in North America, is targeting the uranium exploration sector, motivated by the robust market performance of uranium in 2023 and uranium's bright prospects moving forward.
Mark Ireton, President and CEO, stated: "The strategic decision to explore uranium opportunities is driven by demand from nuclear reactors which was projected at 65,650 tonnes of elemental uranium in 2023. With uranium prices reaching their highest levels since 2007 breaking $100/pound and the World Nuclear Association forecasting it to climb 28% by 2030 and nearly double by 2040 to 130,000 tonnes uranium, we are presented with a unique opportunity to diversify and enhance our asset portfolio with quality uranium properties within the Athabasca region, a proven prolific territory and past producing uranium properties in the South Western United States. We look forward to building our core assets on this momentum and providing follow-up reports on the opportunities Victory's management team is currently invested in."
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The company's highly prospective Stingray Lithium Properties are located a few km south of Patriot Battery Metals' Corvette property and adjacent to the Rio Tinto-Azimut projects. The significant 347 non-contiguous claims cover 17,792 hectares and stretch across 65 km from west to east in the highly sought after James Bay Lithium District.
In July 2023, Rio Tinto Exploration Canada strategically entered into two Option to Joint Venture Agreements with Azimut Exploration for the Kaanaayaa and Corvet lithium properties, which are contiguous to Victory's Lac Block and Riviere Block. Victory reported lithium values from a group of samples taken from its Lac Block that were higher than those reported from the main western lithium anomaly shown on Azimut's Kaanaayaa Property. Management is closely monitoring the outcomes of Rio Tinto-Azimut's ongoing winter program to refine its own exploration strategy and target delineation.
Victory's exploration team is set to conduct comprehensive geologic and surface geochemical surveys, complemented by satellite imagery and airborne geophysics, to further refine drill targets on the Stingray claims throughout 2024.
Amidst the global recognition of Canada, and particularly Quebec, as a pivotal player in the electric vehicle revolution, Management believes Victory is strategically positioned in a region that is at the forefront of this transformative industry shift.
The shares are trading at $0.04.
For more information on the company and its other properties, please visit the company's website www.VictoryBatteryMetals.com, contact Mark Ireton, President and CEO, at 236-317-2822 or by email at info@VictoryBatteryMetals.com.
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