Grid Battery Metals Team Provides Nevada Exploration Update for 2024
NEWS RELEASE
Grid Battery Metals Team Provides Nevada Exploration Update for 2024
Coquitlam, BC, February 7, 2024 - Grid Battery Metals Inc. (the “Company” or “Grid
Battery”) (TSXV: CELL, OTCQB: EVKRF, FRA: NMK2 ) announces its plans to explore for the
upcoming 2024 mineral exploration season in Nevada.
Tim Fernback, Grid President & CEO states “Now that our team has completed the recent site visit of
Clayton Valley Lithium Project in Nevada, we have a clearer understanding of what Grid needs to
accomplish for the 2024 mineral exploration season. We are excited to offer a summary of what our
team has determined as next steps for each of our three lithium property prospects in Nevada.”
Texas Spring Lithium Property
Our team recently completed the Phase 1 exploration of the Texas Springs Property in fall 2023
which included both a CSAMT geophysical survey and a detailed soil sampling on a 50 m X 100 m
spacing. Results were impressive and on-trend with the results found at the Surge Battery Metals
Inc. (“Surge”) ( TSXV: NILI, OTC: NILIF ) Nevada North Lithium Property that adjoins the Texas
Spring Property to the north. Our Phase 1 Exploration results included average grades of 2010 ppm,
(applying a 1,000 ppm cut-off), and up to an impressive 5,610 ppm. Lithium.
Four drillholes are recommended for a Phase 1 Reverse Circulation program targeting the
mineralized zones identified in surface sampling. Drilling should be advanced to the bottom of the
depositional basin, characterized by a basal conglomerate above bedrock. Depths to the base of the
basin will vary depending on the location of the drillhole relative to the basin structure which is not
well defined. Based on limited information, basin depths are expected to range from 150m (492 ft)
to 300m (984 ft).
Samples should be collected for the entire length of hole and composited at regular 1.5m (5ft)
intervals. Duplicates, blanks and standards should be inserted once every 20 samples (5%) for
QA/QC. A four-acid aqua regia digestion analysis method is recommended for drill samples. This
aggressive digestion method will sufficiently extract lithium and other elements of interest in the
clays and other rocks encountered at the Project.
Drilling should be followed up with interpretation of the results. A 3D geologic model should be made
using rock chips, assay results, CSAMT data and existing geologic mapping. The CSAMT data should
be used to infer continuity of changes in subsurface strata, especially between sandy and clayey
interfaces. The modeling should look for correlation between mineralized clay strata along trend
with other high-grade intercepts. A comparison of any identified high grade lithium zones should be
made with the CSAMT data collected. If correlation between high lithium clays is and a specific range
of ohms is consistently identified at depth, this correlation should be used to inform additional drill
targets at the Project.
If Phase 1 exploration is successful, a Phase II drill program should be undertaken to refine the
location size and grades of mineralized zones. As few as five (5) additional drillholes may be
Grid Battery Metals Inc..
3028 Quadra Court
Coquitlam, BC, V3B 5X6
604- 428-5690
www.gridbatterymetals.com
2
sufficient, however if zones of interest are identified in the far western portion of the claim block, or
anywhere on the eastern half of the claim block, as many as twenty (20) drillholes may be required.
Volt Canyon Lithium Project
At the Volt Canyon Lithium Project, the Company contracted the services of Rangefront Geological
(“Rangefront”) to perform a detailed soil sampling on a 100 m X 100 m spacing as a first phase of the
Company’s exploration plan on site. The Company proposes to use the results of these soil samples,
together with a planned second phase exploration program involving geophysical surveys of the
property, to help predict geological structure and possible locations for lithium accumulation.
Unfortunately, an unusually wet fall and winter has shortened the exploration season on the Volt
Canyon Lithium Project, and we plan on continuing the remaining soil sampling and assay work in
2024 when the exploration season begins.
Once the first two phases of this exploration program at Volt Canyon have been successfully
completed, the Company will determine the next steps for its overall exploration plan. This may
include, but is not limited to, a subsequent drilling program.
Soil Samples (100 X 100M Grid) (Volt Canyon Lithium Project)
3
Clayton Valley Lithium Project
Mr. Fernback states “Recently we have issued news of our site visit to the Clayton Valley Lithium
Property in Esmeralda County, Nevada. This lithium project is located in Clayton Valley, Nevada
adjacent to the village of Silver Peak, Nevada, about 48 km (29 miles) southwest of Tonopah, Nevada,
and 273 kilometers (170 miles) southeast of Reno, Nevada.
At the Clayton Valley Lithium Project, the Company contracted the services of Rangefront to perform
an updated and revised NI #43-101 Technical Report. The Company proposes to use the results of
this Technical Report and prior soil samples, geophysical surveys, and drilling on the property, to
help identify structure and target areas favorable to lithium accumulation and determine next steps
for its overall exploration plan. This may include, but is not limited to, additional CSAMT geophysical
survey, additional soil sampling and a subsequent exploratory drilling program on the property.”
Mr. Fernback has recently made additional comments in the Company’s February 2, 2024 news
release, and as a reminder to our shareholders, “Clayton Valley holds the only producing lithium
brine system in the United States and also holds amazing potential for lithium clay-hosted deposits.
Our lithium claims in Clayton Valley are bordering the Silver Peak Lithium Project of Albemarle
Corporation ( NYSE: ALB ), home to the only producing lithium mine in North America. Another
neighbour of ours to the east, Century Lithium Corp. (TSXV: LCE OTCQX: CYDVF), has issued a pre-
feasibility study referencing a 26% after-tax internal rate of return and an NPV 8 of $1.03 billion. It
will be great to realize the potential of this area of Nevada for lithium-hosted brine and claystone for
our shareholders.”
Mr. Fernback continues “We are very excited about the upcoming 2024 Lithium Exploration Season
in Nevada. We have recently completed the NI#43-101 Technical Report on our Texas Spring
Lithium Project and plan on issuing the NI #43-101 Technical Report on our Clayton Valley Lithium
Project, both of which will outline our subsequent exploration programs in more detail. Given that
we have fully funded our 2024 Mineral Exploration Season with the cash currently held in our
treasury, we are looking forward to deploying these funds to the benefit of our shareholders.”
Clayton Valley Property
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).
Lit hium
Project s
CLAYTON VALLEY PROJECT
TSX.V: CELL OTCQB: EVKRF FRA: NMK2
4
About Rangefront Geological
Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge
technology to provide mining consulting services, contract labor, field crew services, and vehicular
support to the mining industry. With services available across North America, Rangefront works
closely with its clients to provide high-quality mineral exploration services.
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.
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.
5
About the British Columbia, Nickel Projects
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares
in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX
Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division.
Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel
mineralization occurs as awaruite. The Mitchell Range Group area claim consists of one claim block
covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and
chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has
been documented.
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).