Surge Battery Metals Commences Phase Three Drilling At Nevada North Lithium Project
Surge Battery Metals Commences Phase Three
Drilling At Nevada North Lithium Project
West Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Surge Battery Metals Inc. (TSXV:
NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce commencement
of our 2024 exploration drill program at our high-grade
Nevada North Lithium Project
north-northwest
of Elko, Nevada.
An eight hole reverse circulation program is planned to test favorable geochemical extensions and
the known geophysical footprint for lithium mineralization. (
See April 4, 2024, News Release
)
All holes have been positioned to further expand and define the lateral and vertical extent of the
known NNLP deposit.
Testing will take place within an area 1km to the west and up to a 1.2km to the south of the 2024
maiden resource area containing an
inferred mineral resource of 4.67 million tonnes of
lithium carbonate equivalent grading 2,839 parts per million lithium
at a 1,250 ppm Li cut-
off. (
see February 22, 2024, News Release
).
Drilling is expected to last for approximately the next 3 weeks with initial assay results expected by early
August. These results will be used to update the resource model and incorporated into the Preliminary
Economic Assessment currently underway.
Mr. Greg Reimer, Chief Executive Officer, and Director commented: "
Surge is continuing to
develop and model the property's geology and high-grade mineralization, all of which forms the basis of
our ongoing planning.
Once results are received from Phase Three drilling, they will integrate with the
Company's understanding of the known clay horizons that contribute to an already significant deposit.
Additional results from this program have strong potential to upgrade the size and elevated lithium
content of the inferred mineral reserve found to date."
Qualified Person as Defined Under National Instrument 43-101
Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National
Instrument 43-101 has reviewed and approved the technical aspects of this news release.
About Surge Battery Metals Inc.
Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the
supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The
project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA. Lithium is a crucial
element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture
Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically
positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable
future of the electric vehicle industry.
About the Nevada North Lithium Project
The Company's Nevada North Lithium Project, located in the Granite Range southeast of Jackpot,
Nevada 73 km north-northeast of Wells, Elko County, Nevada. The first two rounds of drilling, completed
in 2022 and 2023, identified a strongly mineralized zone of lithium bearing clays occupying a strike
length of more than 3,500 meters and a known width of up to 950 meters. Highly anomalous soil values
and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. The
Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 4.67Mt of
Lithium Carbonate Equivalent (LCE) grading 2,839 ppm Li at a 1,250 ppm cutoff.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
President & CEO
Contact Information
Email :
Phone: 604-662-8184
Website:
surgebatterymetals.com
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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 document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan"
or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or
expressions identify forward-looking statements or information. These forward-looking statements or
information may relate to future prices of commodities including lithium and nickel, the accuracy of
mineral or resource exploration activity, reserves or resources, regulatory or government
requirements or approvals including approvals of title and mining rights or licenses and
environmental, local community or indigenous community approvals, the reliability of third party
information, continued access to mineral properties or infrastructure or water, changes in laws, rules
and regulations including in the United States, Nevada or California or any other jurisdiction which
may impact upon the Company or its properties or the commercial exploitation of those properties,
currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the
market for lithium related products, changes in exploration costs and government royalties, export
policies or taxes in the United States or any other jurisdiction and other factors or information. The
Company's current plans, expectations, and intentions with respect to development of its business
and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic
or by the impact of current financial and other market conditions (including US government subsidies
or incentives) on its ability to secure further financing or funding of its Nevada properties. Such
statements represent the Company's current views with respect to future events and are necessarily
based upon several assumptions and estimates that, while considered reasonable by the Company,
are inherently subject to significant business, economic, competitive, political, environmental
(including endangered species, habitat preservation and water related risks) and social risks,
contingencies, and uncertainties. Many factors, both known and unknown, could cause results,
performance, or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or changes in circumstances or any other
events affecting such statements and information other than as required by applicable laws, rules, and
regulations.
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