Grid Battery Exploration Team Reports its MT Geophysics Survey Results on the Clayton Valley Lithium Project
NEWS RELEASE
Grid Battery Exploration Team Reports its MT Geophysics Survey
Results on the Clayton Valley Lithium Project
Coquitlam, BC – May 2, 2024- Grid Battery Metals Inc. (the “Company” or “Grid”) (TSXV: CELL,
OTCQB: EVKRF FRA: NMK2) is pleased announce the results of the initial exploration program, a
Magnetotelluric (MT) geophysics survey performed by the KLM Geoscience (“KLM”). The geophysics
survey was overseen by Grid’s Qualified Professional, Mr. Steven McMillin P.G.
MT survey profiles
The MT survey is a preferred method for identifying strata that may contain lithium brine evidenced
by low resistivity (high conductivity) signatures, structures that potentially focus brine, and basin
floor geometry.
Mr. Steven McMillin P.G. comments “The MT survey was completed over eleven profiles. The results
were plotted in horizontal slices at 250m, 500m and 750m with bedrock depths that range from
216 to 406 m within the Grid claims. A major northeast fault interpreted from gravity bisects the
claim block and is best apparent in the 500m slice even though the slice is below the basin floor.
This suggests that the fault may be a fluid conduit at depth The fault is less apparent in the strong
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near-surface anomaly in the 250m slice that may reflect a spread of fluids within the basin
sediments away from the fault. The 750m depth slice is likely below the basin floor and
conductivity is mostly focused near the basin bounding faults”.
Mr. Steven McMillin continues “We plan to complete an infill sample program on the southern half of
the property claims on 125 m centers. Results will be incorporated with available surface geology,
previous drilling, and previous geophysics into a 3D Leapfrog model. This model will provide a good
framework to assist locating future exploration and drilling.”
MT Geophysical Survey Results
Grid’s Clayton Valley Lithium Project
Tim Fernback, Grid President & CEO comments “Clayton Valley Nevada is home to North America’s
only lithium brine producer (Albemarle Corporation’s Silver Peak Mine) and our property is
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immediately to the west of their lithium property and production facility. Recently, Century Lithium
(our nearby neighbour to the east of Albermarle) has just released their Positive Feasibility Study
(April 29, 2024) with Measured and Indicated resources totaling 1,207.33 million tonnes (Mt) at an
average grade of 957 parts per million (ppm) lithium (Li) containing 1.155 Mt of Li or 6.148 Mt of
lithium carbonate equivalent (LCE), a 40 year mine life and an after-tax NPV 8 of $3.01 billion. With
the MT survey that has just been completed, together with the results of the planned detailed soil
sampling program in the southern area of our Clayton Valley claim block, these results will allow us
to determine next steps for our exploration programs later in the year.”
It should be noted that results from any adjacent property(s) are not an indication of what may be found
on the Company’s property(s).
About KLM Geoscience LLC
KLM (https://www.klmgeoscience.com/) is an industry leading, Nevada-based geophysical
exploration company. Established in 2014, KLM specializes in a wide array of geophysical methods.
Using state of the art equipment, KLM’s services include induced polarization (IP), natural-source
magnetotellurics (MT, AMT), controlled-source audio-frequency magnetotellurics (CSAMT), passive
seismic and magnetic potential field surveys. With a head office location in Nevada, this allows KLM
to rapidly mobilize and begin work at a moment's notice throughout the Western United States and
beyond. KLM has been a preferred vendor for Grid and its management team for many years.
Qualified Person
Mr. Steven McMillin, P.G. is a Qualified Person as defined by National Instrument 43-101 and has
approved the technical information contained within this news release.
About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the
TSX Venture Exchange. The Company’s maintains a focus on exploration for high value battery
metals required for the electric vehicle (EV) market.
www.gridbatterymetals.com.
About Texas Springs Property
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode
claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot,
Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in
volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program
at the Texas Springs Property (Fall 2023) yielded results with average lithium grades of 2010 ppm,
applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project -
owned by Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF) and comprised of 725
mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays.
The average lithium content within all near surface clay zones intersected in the 2022 drilling
program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent
results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press
release September 12, 2023). Our exploration results are on-trend with these results.
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About Clayton Valley Lithium Project
The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640
hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene
age Great Basin extension and is still active due to movement along the Walker Lane structural zone.
As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from
multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-
old Long Valley Caldera system and related events. These ash layers are thought to contribute to
the lithium brines extracted by Albemarle and are also likely involved in the formation of the
exposed lithium rich clay deposits on the east side of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of
alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: [email protected]
Phone: 604- 428-5690
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. This news release
may contain forward-looking statements which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of historical
facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt
and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from
forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication
of what may be found on the Company’s property(s).