Victory Resources Corp. Announces Expansion of Its Focus on Battery Grade Minerals in Europe
Vancouver, British Columbia (FSCwire) - Victory Resources Corp. (TSX – V: VR) (FWB: VR61) ("Victory" or the "Company") is pleased to announce that the Company has begun extensive scoping surveys and due diligence on battery mineral exploration and near-term production permits in Spain. In conjunction with the scoping survey, the company has retained Taipan Consulting International and EXCO Mining (Spain) to assist to complete due diligence on several potential permits for the exploration of battery grade minerals, including cobalt, vanadium, lithium, copper, manganese, and rare earth elements (REE).
“These scoping surveys are the next step in accelerating both our short and long term goals to expand our search for battery grade mineral assets with rising worldwide demand,” said Mr. David Lane, President of the Company. “Spain represents a safe and emerging mining jurisdiction where our ability to acquire potential large scale battery minerals deposits is strong. In addition, the proximity to massive European demand will offer excellent near-term benefit for our shareholders and stakeholders,” added Mr. Lane.
Spain has one of Europe´s most diversified mining sectors, which produces copper, gold, nickel, tungsten, industrial minerals and stone. Spain encompasses almost 90% of the Iberian Peninsula which is considered to be the most mineralized zone in the European Union.
Victory’s strategic focus includes cobalt, vanadium, lithium, copper, manganese, and rare earth elements (REE), as outlined below:
- Cobalt: Primarily used in small scale battery production, such as smartphones, laptops and electric cars. Tech companies and car manufacturers are the primary buyers for this mineral. As demand increases there is an ongoing strain to increase supply. Majority of cobalt is sourced out of Democratic Republic of Congo, however due to unstable political conditions, Victory is targeting other geographical locations such as Spain.
- Vanadium: Used mainly as an energy storage metal, it will be the primary metal used in large scale energy storage. Among its many attributes, theoretically, it has an unlimited cycle life and the ability to rapidly release large amounts of electricity, as well as being extremely scalable. Countries looking for viable clean energy solutions to power the increasing energy consumption of their population, are putting in place large-scale green energy storage solutions which has driven the demand for vanadium.
- Lithium: A popular energy storage metal which is used in most smartphone, laptop and electric car batteries. It is the most commonly known power metal and as such its demand will continue to grow in both large scale energy storage and electric car battery markets.
- Copper: A highly conductive material, copper is primarily used for electrical wiring. Due to today’s increased use of electrical machinery and technology demand for copper has significantly grown. It is a key factor in the green revolution of energy that we are going through as it is enables the energy generated from the other power metals to flow through our devices. Currently copper is not being mined fast enough to meet the upcoming demand.
- Manganese: The 4th most traded metal in the world, primarily because it’s indispensable in the production of steel and other alloys. Manganese oxide is used in lithium ion batteries and as such is the fastest growing manganese sector.
“We recognize the contributions of Mr. Warren P. Lowe who is stepping down from the Board of Directors and we wish him the best in his future endeavours,” noted Mr. David Lane. “Victory is pleased to welcome Mr. Alan Levien, a seasoned entrepreneur, to the Company’s Board,” added Mr. Lane.
Mr. David Lane, President
Telephone: +1 236 317 2822
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (TSX – V: VR) is a publicly traded junior international mining corporation with interests in North America, Europe and Africa. The Company is currently developing its existing operation in South Central British Columbia, as well as scoping green energy mineral permits in Europe and Africa.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Source: Victory Resources Corporation (TSX Venture:VR, FWB:VR61)
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