Surge Battery Metals Contracts M3 Engineering for Preliminary Economic Assessment
Surge Battery Metals Contracts M3
Engineering for Preliminary Economic
Assessment
West Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - Surge Battery Metals Inc. (TSXV:
NILI) (OTCQX: NILIF) (FSE: DJ5) (the "
Company
" or "
Surge
") is pleased to announce that the
company has contracted M3 Engineering and Technology Corporation (M3 Engineering) of Tucson,
Arizona, a recognized leader in the lithium claystone space, as the lead engineering firm to
produce a
Preliminary Economic Assessment (PEA) and accompanying NI 43-101 technical report on its Nevada
North Lithium Project (NNLP).
The results of the NNLP PEA are scheduled to be announced by the end of Q4 in 2024 and are
expected to be based on an updated lithium resource estimate following the 2024 spring drill program.
Dr. Bruce Davis has prepared an initial inferred resource estimate of 4.67 Mt LCE at an average grade
of 2,839 ppm Li at a 1,250 ppm Li cutoff, (
See news release of April 30, 2024
).
Supporting M3 Engineering on the NNLP PEA will be Independent Mining Consultants Inc. (IMC) of
Tucson, Arizona for the mining engineering section. The mine design by IMC is anticipated to be based
on open pit truck/shovel methods that will minimize the stripping ratio while maximizing grades being
mined from the pit.
Metallurgical modelling will be built on the flowsheet being developed at Kemetco that uses a well-
established process to obtain optimal lithium extraction and production of high purity lithium carbonate.
Initial testing demonstrated that the flowsheet produced lithium carbonate purity exceeding 99% without
any refinement (
See news release of April 9, 2024
). Further test work is under way to optimize the
process trials to date and to advance to the additional purification steps that we anticipate will yield
99.9% purity, designed to meet battery-quality specifications.
To guide Surge in the process, the Company has engaged Graham Ballachey, a professional engineer
with significant Nevada lithium claystone experience, to serve as Project Owner's Engineer for the NNLP
PEA.
Mr. Greg Reimer, Chief Executive Officer, and Director
commented, "M3 Engineering is a world-
class engineering firm with exactly the type of lithium claystone experience that Surge was looking for in
a lead firm. The combination of M3 Engineering with IMC and Kemetco is a team that we believe will
deliver a PEA that will not only estimate the potential economics of the NNLP but will bring with it the
real-world understanding and confidence these firms and professionals provide. We look forward to
commencing the work required to achieve this very important milestone and to announcing the results by
the end of the year."
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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