Surge Confirms 1.5km Extension of Lithium Mineralization with Grades up to 5,670 ppm Lithium from Holes 2303 and 2304
Surge Confirms 1.5km Extension of Lithium
Mineralization with Grades up to 5,670 ppm
Lithium from Holes 2303 and 2304
West Vancouver, British Columbia--(Newsfile Corp. - October 18, 2023) - Surge Battery Metals Inc.
(TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5) (the "
Company
" or "
Surge
") is pleased to announce certified
assay results on the Nevada North Lithium Project confirm mineralization extends 1500m to the
northwest of 2022 drilling.
Samples from drill hole NN2304 (Drill site location P) returned positive results ranging between the
1,000 ppm cutoff to 5,670 ppm Li. This includes the highest grade horizon which has a thickness of
29.8m (97.5ft) with an average grade of 3,841ppm Li. Significantly, NN2304 is a 300m (984 ft) step out
to the northwest from previously reported NN2302 and has a composite thickness of intersected clay
horizons of 32.9m (107.5ft) for an overall average grade of 3,682 ppm Li.
Drill hole NN2303 (drill site location V), a further 1,000m (3,300ft) step-out to the northwest from
NN2304, returned positive sample results ranging between the 1000 ppm cutoff to 5,120 ppm Li. The
primary clay horizon starts from 78.5m (257.5 ft), is 21.3m (70ft) thick and grades 3,064ppm Li. The
composite thickness of clay layers intersected was 22.8m (75 ft), for an overall grade of 2,940 ppm Li.
Two samples returned 1,210 ppm Li between 0 and 3.8m (12.5ft) below surface and are interpreted to
lie on the edge of an additional shallow zone of near-surface lithium mineralization extending to the north
and west. The 2023 transient electromagnetic survey suggests the near-surface claystone thickens to the
west, and resistivity decreases, possibly indicating an area of more substantial mineralization (See
Figure 2). Hole NN2303 is a 1,500m (4,921 ft) step out to the northwest from hole NN2205, the most
northerly hole of the 2022 drilling campaign.
Composite lithium values for the mineralized horizons, using a 1,000 ppm cutoff with no internal dilution,
are shown in the following table.
Hole ID
From ft (m)
To ft (m)
Thickness ft (m)
Grade (ppm Li)
NN2303
2.5 (0.76)
5 (1.52)
2.5 (0.76)
1210
NN2303
10 (3.05)
12.5 (3.81)
2.5 (0.76)
1210
NN2303
257.5 (78.5)
327.5 (99.8)
70 (21.3)
3064
Average
75 (22.8)
2940
NN2304
70 (21.3)
167.5 (51.1)
97.5 (29.8)
3841
NN2304
227.5 (69.3)
237.5 (72.4)
10 (3.1)
2133
Average
107.5 (32.9)
3682
Mr. Greg Reimer, Chief Executive Officer, and Director
commented, "Drill holes NN2302, 2303 and
2304 now confirm mineralization extends an additional 1.5 km from the most northerly hole of the 2022
drill program for an overall confirmed strike length in excess of 3km. I am very excited to see that the
lithium bearing clay horizons, identified by geophysics, are confirmed by these drill results.
Additionally,
the near surface intersection of NN2303, which is anticipated to thicken to the west, will be a priority to
follow up in the next drilling program."
Figure 1: Map showing the 2022(RC) and 2023 (Sonic and diamond core) drill sites. Holes NN2303
and NN2304, reported here are the two northernmost holes, extending the known mineralization
northward by some 1,500 meters from the 2022 drill program.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/184367_6db59293a48d69b4_001full.jpg
Figure 2: Location map and cross section showing a Towed Transient Electromagnetic (tTEM)
geophysics line extending westward from drillhole NN2303, suggesting that the thin mineralized beds
intercepted near-surface in the hole extend and thicken to the west. The resistivity also decreases to
the west of NN2303 and is a positive indication of potential lithium mineralization in this area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9838/184367_6db59293a48d69b4_002full.jpg
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.
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 underway and 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. 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.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
President & CEO
Contact Information
Email :
Phone : 778-945-2656
Website:
surgebatterymetals.com
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
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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
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