Surge Battery Metals Expansion Drilling Intersects High Grade Lithium Clay South of Resource Area: Wide Intercepts up to 91.4 M
Surge Battery Metals Expansion Drilling
Intersects High Grade Lithium Clay South of
Resource Area: Wide Intercepts up to 91.4 M
@3,800 PPM Li Returned, Increases Strike
Length 1.3KM
West Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Surge Battery Metals Inc. (TSXV:
NILI) (OTCQX: NILIF) (FSE: DJ5)
(the "
Company
" or "
Surge
") is pleased to announce the first half of
certified assays results from its 2024 drilling program for the four holes located on private surface land
holdings (
see news release dated April 4, 2024
) at its Nevada North Lithium Project (NNLP).
Highlights
NNL-021: 50.3m @ 3,813 Li PPM (Inc. 45.7m @ 4,051 Li PPM)
NNL-022: 91.4m @ 3,800 Li PPM (Inc.
82.3m @ 4,038 Li PPM)
NNL-024: 80.8m @ 3,236 Li PPM (Inc. 51.8m @ 4,020 Li PPM)
2024 RC Drilling continues to intersect high-grade lithium mineralization up to 7,680 ppm at the NNLP
and has extended drill-indicated mineralization 1,300 meters to the south from existing holes. Today's
results now increase the lithium mineralization over a North South strike length from 3 km to 4.3km, which
is a 43% increase over the current inferred resource area. Lithium mineralization is present within 15m
of surface in all holes, even starting at surface in two holes, and extending to 122m below surface. The
results of these drill holes are expected to expand the existing inferred 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 Figure
1).
Drilling operations proceeded smoothly and with minimal interruptions. Logging by Surge geologists has
been reconciled with assay data, validating the occurrence of Li-bearing clay mineralization consistent
with holes drilled in 2022 and 2023. These first four holes, all drilled on private land, were designed to
test the upper package of clay units and did not penetrate the lower clays intersected in previous phases
of drilling.
Mr. Greg Reimer, Chief Executive Officer, and Director
commented, "We are very pleased with
todays results which confirmed that thick, high-grade and near-surface lithium mineralization continues to
the south of our resource area. We see the same pattern in 2024 drilling as we have in 2023 and 2022
drilling where the highest lithium grades start at or near surface and should bode well for an updated
resource estimate and PEA due later this year. We also importantly extend our gratitude to the private
landowners who allowed us surface access to complete this drilling."
Assay results for the first four holes are summarized below.
NNL-021
NNL-021 was drilled to 280 feet (85 meters) and intersected 165 feet (50 meters) of mineralized clay at
an average grade of 3,813 ppm Li. This includes a high-grade interval of 150 feet (45.7 meters) at 4,051
ppm Li. Geologic interpretations based on soil geochemistry, geophysics, and observed
geomorphology predicted clays at this location to be lower grade and thinner, and we are pleased to
report that the highly favorable clays are thicker and of higher grade than expected. This site, collared
nearly 1,100 meters east of the southernmost 2022/2023 holes, has succeeded in its goal of proving
continuity of mineralization as well as incentivizing additional exploration to the east.
Composite lithium values for the mineralized horizons, using a 1,000ppm cutoff with no internal dilution,
are shown in the following table:
Hole ID
From
(ft)
To
(ft)
Thickness (ft)
From
(m)
To
(m)
Thickness
(m)
Li
(ppm)
NNL-021
0
20
20
0.0
6.1
6.1
2,696
NNL-021
40
90
50
12.2
27.4
15.2
4,661
NNL-021
105
190
85
32.0
57.9
25.9
3,859
NNL-021
250
260
10
76.2
79.2
3.0
1,413
Sequence Total
165
50.3
3,813
NNL-022
NNL-022 was drilled to 400 feet (122 meters) and penetrated 300 feet (91 meters) of mineralized clay at
a grade of 3,800 ppm Li. This includes a high-grade interval of 260 feet (82.3 meters) at 4,038 ppm Li.
Like NNL-021, the mineralized clay zones have a greater thickness than previously modeled, and assays
confirm mineralization is thicker than what was expected based on field observations by Surge
geologists (see news release dated June 20, 2024). NNL-022 was collared 1050 meters southeast of
the nearest 2022 and 2023 holes and 830 meters southwest of NNL-021, presenting additional
exploration opportunities to the south.
Composite lithium values for the mineralized horizons, using a 1,000ppm cutoff with no internal dilution,
are shown in the following table:
Hole ID
From
(ft)
To
(ft)
Thickness (ft)
From
(m)
To
(m)
Thickness
(m)
Li
(ppm)
NNL-022
45
130
85
13.7
39.6
25.9
4,605
NNL-022
150
195
45
45.7
59.4
13.7
3,913
NNL-022
210
350
140
64.0
106.7
42.7
3,734
NNL-022
370
400
30
112.8
121.9
9.1
1,660
Sequence Total
300
91.4
3,800
NNL-023
NNL-023 was drilled to 500 feet (152 meters) and intersected 75 feet (15.2 meters) of mineralized clay
at an average grade of 1,982 ppm Li. Poor drilling conditions and sample recovery - possibly
attributable to a fault - may have had a negative impact on the thickness and grade reported today;
several lost samples occur within or at the end of a mineralized zone. As reported (see news release
dated June 20, 2024), field interpretations by Surge geologists suggested only 25 feet of mineralized
rocks would be present, however assays have confirmed 75ft (15.2m) of mineralization. This hole
stepped out 1,065m west from known mineralization and provides critical data for refining the geologic
model of the project.
Composite lithium values for the mineralized horizons, using a 1,000ppm cutoff with no internal dilution,
are shown in the following table:
Hole ID
From
(ft)
To
(ft)
Thickness (ft)
From
(m)
To
(m)
Thickness
(m)
Li
(ppm)
NNL-023
5
10
5
1.5
3.0
1.5
1,150
NNL-023
50
80
30
15.2
24.4
9.1
2,634
NNL-023
80
85
5
24.4
25.9
1.5
NSS
NNL-023
85
90
5
25.9
27.4
1.5
2,790
NNL-023
90
100
10
27.4
30.5
3.0
NSS
NNL-023
120
130
10
36.6
39.6
3.0
1,205
NNL-023
160
170
10
48.8
51.8
3.0
1,083
NNL-023
170
195
25
51.8
59.4
7.6
NSS
NNL-023
195
200
5
59.4
61.0
1.5
1,005
NNL-023
315
325
10
96.0
99.1
3.0
2,205
Sequence Total
75
22.6
1,982
NSS
denotes "non-sufficient sample": the sample received was either too small or non-existent
NNL-024
NNL-024 was drilled to 400 feet (122 meters) and intersected 265 feet (81 meters) of mineralized clay at
an average grade of 3,236 ppm Li. This includes a high-grade interval of 170 feet (51.8 meters) at 4,020
ppm Li. This hole continues to demonstrate high grades and thickening mineralized clays to the south.
The hole was collared nearly 1,000 meters south-southeast of the nearest boreholes from the 2022 and
2023 drilling phases and placed 1,040 meters from the nearest 2024 sites reported above. The hole
was a successful step-out, keeping the exploration potential open to the south.
Composite lithium values for the mineralized horizon, using a 1,000ppm cutoff with no internal dilution,
are shown in the following table:
Hole ID
From
(ft)
To
(ft)
Thickness (ft)
From
(m)
To
(m)
Thickness
(m)
Li
(ppm)
NNL-024
0
90
90
0.0
27.4
27.4
4,043
NNL-024
115
265
150
35.1
80.8
45.7
3,093
NNL-024
285
305
20
86.9
93.0
6.1
1,145
NNL-024
385
390
5
117.3
118.9
1.5
1,390
Sequence Total
265
80.8
3,236
Of the remaining 4 holes to be reported from the 2024 drilling program, two holes (NNL-025 & 026) are
located far to the west on property held with M3 Metals Corp. These hole locations were selected to
explore for very distal and deep continuity of mineralization. Field observations during the drilling of these
holes did not reveal the known mineralized clays observed in previous drilling. The other two holes drilled
(NNL-027 & 028) are located as additional step outs to the south of the private parcel and did confirm
the presence of the mineralized clay horizons discovered in the 2022 and 2023 drill programs. Assay
results have yet to be received for all of these holes.
SAMPLE CUSTODY AND HANDLING
Surge geologists prepared barcode-labeled standard 20" x 24" polyester Heavy Sentry Bags while
carefully following a schedule on a cut sheet. These bags and cut sheets were given to the drillers in
order with blanks and commercially obtained standards were removed at a rate of greater than 1 out of
every 7 samples (final QA/QC insertion rate was 17.4%). Duplicates were tied together so drillers would
know they were handling a duplicate.
RC chip samples from the reverse circulation drilling were directly
placed in bags from the cyclone separator outlet from the drill rig for the entirety of every 5-foot interval
drilled. Chip trays containing representative samples of each interval were logged on-site by Surge
geologists. The sample bags were allowed to dry on the pad during drilling for 2-3 days. Once dry, Surge
geologists would load samples along with QAQC sample inserts, and personally drive them to ALS
global in Twin Falls, Idaho for sample preparation. Once sample preparation was completed, samples
were shipped to ALS Global in Vancouver, BC for analysis using the ME-MS41 method. ALS Global is
independent of the company. Blanks reported no greater than 34 ppm Li, and all but two standards
passed scrutiny. The two failed standards under-reported their certified values. Duplicates all passed
scrutiny. All duplicates plotted within an acceptably (<10%) tolerance.
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 3,000 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
Keep up-to-date with Surge Battery Metals on
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Figure 1: Plan View showing the location of all drilling on the NNLP, in addition to an outline of the
Maiden Resource Estimate.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/217397_6137ce4d145a2b30_001full.jpg
Figure 2: Cross Section 1 and 2 showing 2024 RC holes including the southernmost 2022 RC and 2023
diamond core holes. Drill strings are color-coded by assay with a working geological interpretation.
Normal faults are interpreted with some uncertainty with dashed lines. The thin, lower clays are not
represented in Section 2, as they are not intercepted by holes on this cross-section line.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/217397_6137ce4d145a2b30_002full.jpg
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/217397