Surge Intersects 54.1m (177ft) at 3,003 ppm of Lithium Including 15.2m (50ft) at 3,926 ppm Li From Surface
Surge Intersects 54.1m (177ft) at 3,003 ppm of
Lithium Including 15.2m (50ft) at 3,926 ppm Li
From Surface
West Vancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - Surge Battery Metals Inc.
(TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5C) (the "
Company
" or "
Surge
") is pleased to announce that
certified assay results from hole NN2305 on the Nevada North Lithium Project (NNLP) confirms high
grade mineralization starting from surface totaling 15.2m at 3,926 ppm Li.
Drill hole NN2305 (drill site location N), which is a 150m step out to the south of NN2201, returned
positive results ranging from the 1,000ppm cutoff to 4850ppm Li. This includes a horizon starting from
surface which returned 15.2m at 3,926 ppm Li, within a broader interval of 19.1m at 3,437 ppm Li. These
results confirm high-grade lithium clay at surface with no overburden stripping required at this location.
Significantly, an overall total of 54.1m of clay was intersected with an average grade of 3,003 ppm Li.
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)
NN2305
Incl.
0.0
0.0
62.5 (19.1)
50.0 (15.2)
62.5 (19.1)
50.0 (15.2)
3437
3926
NN2305
92.5 (28.2)
142.5 (43.4)
50 (15.2)
3226
NN2305 *
175 (53.3)
207.5 (63.2)
32.5 (9.9)
2081
NN2305
218 (66.3)
250.5 (76.2)
32.5 (9.9)
2747
Average
177.0 (54.1)
3003
*Includes one 980 ppm sample
All samples from the sonic drilling were collected in plastic bags for every 2.5-foot (76.2 cm) interval.
Surge workers at the rig retained a representative sample in chip trays and core boxes for each interval
and sealed the bags with wire ties. Samples were transported by Surge workers to a locked warehouse
in Elko, Nevada where they were stored for sub-sampling. The sample bags were opened at the
warehouse, a sub-sample of approximately 25% of the material was bagged for assay and the original
sample bags were overwrapped for storage. Samples were then submitted to the ALS facility in Elko,
Nevada for analysis. ALS is independent of the Company. The samples batches included 6% insertion
of QA/QC samples, including blanks, duplicates, and commercially obtained standards. Both duplicates
and standards ran within 4 percent of the known and duplicated values, with the blanks reporting no
greater than 20 parts per million lithium.
Surge is also pleased to announce that its CEO, Greg Reimer, will be presenting at Benchmark Week
2023, scheduled to take place from November 14th to 16
th
in Los Angles, California. Benchmark Week
has long been recognized as the premier gathering for the global lithium-ion battery supply chain and the
wider energy transition participants. This event is the perfect platform for us to highlight the significance
of the NNLP in contributing to the domestic supply and development of battery metals.
Surge has updated its corporate presentation. Visit:
https://surgebatterymetals.com/corporate-
presentation/
to review it.
Mr. Greg Reimer, Chief Executive Officer, and Director commented
"We are very pleased with
NN2305 results which has delivered at-surface results of almost 4,000ppm Li. NNLP continues to
produce high-grade lithium intercepts near-surface which should result in favourable mining conditions in
future economic studies."
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 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 : 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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