VR IS WAITING ASSAYS FROM GEORGIA LAKE......RCK DOMAIN
PLUS RCK JUST INKED A LITHIUM DEAL WITH MERCEDES BENZ FOR AN OFFTAKE AGREEMENT.....VR IS THE KEY PROXIMITY PLAY INDEED
Globe says Rock Tech to supply lithium to Mercedes-Benz
2022-08-24 07:50 ET - In the News
The Globe and Mail reports in its Wednesday edition that Stuttgart-based carmaker Mercedes-Benz AG signed a declaration of intent on Tuesday to purchase raw materials from German-Canadian company Rock Tech Lithium. The Globe's Steven Chase and Claudia Scholz write that Merc's chief technology officer Markus Schaefer, responsible for development and purchasing, was part of the delegation led by German Chancellor Olaf Scholz and Economics Minister Robert Habeck. Mr. Schaefer said Mercedes is in the process of drastically increasing the production of electric vehicles. To this end, Mercedes wants to build relationships with the Canadian mining sector. Rock Tech says it plans to supply Mercedes with 10,000 metric tonnes of lithium hydroxide annually starting in 2026. The two companies have signed an agreement to this effect. However, Rock Tech's lithium mine in Canada is still in the approval process. The raw material from which the battery-grade lithium hydroxide will be extracted will initially come from Australia, among other countries, until the Canadian mine comes on stream, and will be refined in Germany. Mr. Schaefer said Mercedes wants to tap "potential in the mining and refinery segment in Canada."
Victory Resources begins work program at Georgia Lake
2022-07-12 11:43 ET - News Release
Mr. Mark Ireton reports
VICTORY BEGINS WORK PROGRAM ON ITS GEORGIA LAKE LITHIUM PROJECT IN ONTARIO
Victory Resources Corp. has begun its first work program on its recently acquired Georgia Lake lithium project in the Thunder Bay mining district, Ontario.
"We are excited to begin our first work program at our fully owned Georgia Lake property, which is based in the proven lithium region within the Thunder Bay district," said Mark Ireton, Victory Resources president and chief executive officer. "Victory's Georgia Lake property is ideally situated in a proven lithium region, and one with mining infrastructure supported by the government of Ontario and from Rock Tech, which will allow us to realize the full potential of any commercially viable deposits within the project."
Work program details
- The work program will be focused upon soil sampling and prospecting over a 10-day period to explore for lithium mineralization on Victory's Georgia Lake project.
- The program is aimed at identifying anomalous lithium values in soil to develop targets for follow-up exploration work which would then require an exploration permit and support from the local first nations communities.
- It is anticipated that results will follow within six weeks of the program, identifying the specific areas for permit application and community engagement related to future surface trenching and drilling.
As it relates to Victory's press release on July 5, 2022, terms of the agreement for the 100-per-cent acquisition of the company's Stingray II property are $10,000 in cash and 2.5 million common shares payable on regulatory and exchange approval.
The technical information contained in this news release has been reviewed and approved by Bob Marvin (PGeo), who is a qualified person as defined under National Instrument 43-101.
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