Surge Battery Metals Provides Drilling Update
Surge Battery Metals Provides Drilling Update
West Vancouver, British Columbia--(Newsfile Corp. - November 16, 2023) - Surge Battery Metals Inc.
(TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "
Company
" or "
Surge
") is pleased to report that the
Company has received completed assays from the sonic drilling component of the 2023 drilling
campaign at the Nevada North (NNLP) lithium clay deposit. We are now awaiting results on a further
seven diamond drill holes comprising the second component of the 2023 program.
In total the current program consists of five sonic holes drilled at sites R, M, V, P and N, with seven
diamond drill holes at sites I, Q, R, J, M and W (see map).
Assay results for the diamond drill holes are
expected to be received and released over the next several weeks.
In 2023, the primary objective of drilling was to build upon the successful reverse circulation (RC)
discovery holes of 2022. Specifically, the aim was to confirm the grades and thicknesses observed in
2022 RC drilling, expand the known mineralization area, explore below the 2022 drillholes for additional
mineralization, and obtain material for further metallurgical test work. Drill availability at the beginning of
the season determined the number of sonic drill holes and diamond drill holes to be completed. The
diamond drill rig was necessary to test geophysical anomalies and working geological interpretations at
depth.
The 2022 and 2023 drill programs were both permitted under a Notice of Intent (NOI), which limited
surface area disturbance to 5 acres. The Company undertook surface remediation after the 2022
program and has continued remediation with the program in 2023.
For 2024, we will apply to the BLM
for disturbance credits which will allow for further drilling in Q2 of 2024. It is anticipated that drill targets
will include sites within our remediated BLM 5 acre disturbance, as well as locations on ground the
company acquired an interest in from M3 Metals Corp. In the near future, the Company plans to submit
its Exploration Plan of Operations (EPO) to the BLM, which is the first step in permitting a much larger
drill program. As we work towards our EPO, we look forward to planning the 2024 drilling season which
we expect to be fully funded by existing working capital.
The results of the 2023 sonic drilling confirm a lithium mineralized area that spans approximately 3km x
0.7km, which is almost 100% larger than the 1.6km x 0.5km area that was identified in 2022. However,
even with the larger mineralized area, it still does not cover the soil sampling anomalies and geophysics
that suggest the total mineralized area may be larger. These results have been closely correlated with
the May geophysical surveys, which have given the Company more confidence in its targeting of drill
holes that have the potential to identify additional lithium mineralization.
Highlights of the 2023 Sonic program include:
Achieving the highest-grade lithium assays to date with up to 8,070ppm Li in NN2301 (R).
Expanding known mineralization to approximately 3km extending 1.5km north.
Identified the likely edge of another near-surface claystone horizon in hole NN2303 (V).
Revealed the presence of coarse carbonate minerals that can likely be screened out from lithium
mineralization and could help to improve overall metallurgical recoveries.
The Upper Claystone Horizon (UCH) is usually the first zone encountered during drilling and has the
highest grade of all the lithium zones. It spans over 3km from hole NN2208 to hole NN2303 (V) and has
an average thickness of 30m. In several drilling locations, the UCH starts at the surface, particularly
where soil samples of high-grade show the zone outcrops at surface. The shallow dipping, near-surface,
high-grade, and free-dig nature of UCH mineralization are all highly favorable features when evaluating
the potential for economic extraction.
The remaining seven diamond drillholes were planned to achieve the following:
NN2306 (I): Step out west of hole NN2208 to test and extend mineralization. Permitted site from
2022.
NN2307/10 (Q): Test and extend mineralization west of the 2022 drilling and test a low resistivity
anomaly at depth. Understand grades and thickness of mineralization at depth where
mineralization dips below low-grade overlying material. NN2310 was drilled at the same site and
angled 50° to the East as a 100-150m step out.
NN2308/9/11 (R, J, M): Test for mineralization below RC and sonic holes where geophysics and
our interpretation suggest additional lithium mineralization. NN2309 twined RC hole NN2208 using
a diamond rig.
NN2312 (W): Test and extend for the limits of lithium mineralization to the north of NN2303 (V).
Lithium intercepts from the 2023 sonic holes, using a 1,000 ppm cutoff with no internal dilution, are
shown in the following table.
Hole ID
From (m)
To (m)
Length (m)
Li ppm
Drill Reasoning
NN23-01
8.4
32.8
24.4
4939
Expand Mineralization to the
NW. 425m step out from
NN2207
NN23-01
49.9
54.1
9.2
3758
NN23-01
63.3
67.1
3.8
2284
NN23-01
69.3
74.7
5.3
2591
NN23-02
20.6
54.9
34.3
3985
Expand Mineralization to the
NW. 200m step out from
NN2205
NN23-02
72.4
79.2
6.9
2346
NN23-03
0.8
1.5
0.8
1210
Expand Mineralization to the
NW testing geophysics target
1.5km from NN2205
NN23-03
3.1
3.8
0.8
1210
NN23-03
78.5
99.8
21.3
3064
NN23-04
21.3
51.1
29.8
3841
Expand Mineralization 300m
to the NW of NN2302
NN23-04
69.3
72.4
3.1
2133
NN23-05
0.0
19.1
19.1
3437
Infill/Step out/Metallurgical
hole between NN2201,
NN2207 and NN2301
incl.
0.0
15.2
15.2
3926
NN23-05
28.2
43.4
15.2
3226
NN23-05*
53.3
63.2
9.9
2081
NN23-05
66.3
76.2
9.9
2747
*One 980 ppm sample included in the composite.
Figure 1: Plan View showing the location of 2022 and 2023 drilling. Two section lines indicate the
location of the cross sections below:
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/9838/187552_2df265b274b63852_001full.jpg
Figure 2: Cross section 1 and 2 showing 2023 sonic holes and 2022 RC holes coloured by assay with a
working geological interpretation. Holes NN23-01 and NN23-02 were deepened using a diamond drill to
test for additional clay mineralization at depth.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/9838/187552_2df265b274b63852_002full.jpg
Figure 3: Cross sections of 2023 sonic drilling coloured by assay value.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/9838/187552_2df265b274b63852_003full.jpg
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/187552_2df265b274b63852_004full.jpg
Mr. Greg Reimer, Chief Executive Officer, and Director
commented, "We are very happy with the
2023 drilling results to date. We have achieved high assay results including up to 8,070ppm Li within
25m of surface, and almost doubled the mineralized footprint. Given the limitations of drilling under our
NOI, the success is remarkable. We look forward to receiving the result of the diamond drill program in
the near future. For 2024, testing some of the high priority targets identified in the soil sampling and
geophysics' will be the focus for future exploration and drilling at Nevada North."
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.
The Company is a Canadian-based mineral exploration company active in the exploration for lithium in
Nevada whose primary listing is on the TSX Venture Exchange in Canada and the OTCQX Market in the
US.
The Company's maintains a focus on exploration for high value battery metals required for the
electric vehicle (EV) market.
About the Nevada North Lithium Project
The Company owns the Nevada North Lithium Project located in the Granite Range southeast of
Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling,
completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a
strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters,
supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in
extent. The potential for a significant lithium deposit can be illustrated by the average lithium content
within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254
ppm.
The 2023 drill program is designed to expand the known lithium-rich clay from the current 1,620 meters
strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the
previously drill-indicated 400 meters. The program is now completed, and we are awaiting assay results.
Initial assay results from the first hole of the 2023 season had a high of 8070 ppm lithium with an average
of 4,067 ppm lithium at a 1,000 ppm cut-off (See news release September 12, 2023).
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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