Announcement
Surge Battery Metals Reports Favorable Claystone Intercepts of 114.4 Meters in Hole NN2007 and 73.15 Meters in Hole NN2008 With Assay Results Pending.
Dec 28, 2022
Surge Battery Metals
7 min read
Wednesday, December 28, 2022: Coquitlam, BC; Surge Battery Metals Inc. (the “Company” or “Surge”) (TSXV: NILI, OTCPink: NILIF, FRA: DJ5C) is pleased to present geological information from the logging of drill holes NN2207 and NN2008 while the Company awaits final assays from drilling at the 100% owned Nevada North Lithium Project in Elko County, Nevada.
Previously released assay results (refer to News Release dated Dec. 8’22) confirmed the presence of significant lithium values contained within layered zones of claystone and blue-grey clay in drill holes NN2201 thru NN2006 (see plan map). The Company believes this demonstrates the potential for a high tenor lithium clay deposit.
While assays are yet to be received from the lab, the same claystone unit and blue-grey clay was intersected in holes NN2207 and NN2208,some 790 and 1130 meters south and south-southeast of the discovery hole NN2201.
Hole NN2207 cut a much thicker section of the favorable claystone than was encountered in holes NN2201, NN2203, 04, and 05. Hole NN2207cut 114.3 meters (375 feet) of claystone compared to the average of 45.7 meters (150 feet). Visually, the claystone and especially the blue-grey clay beds within the package are identical to those carrying high grade lithium.
Hole NN2208 was situated on anomalous soil geochemistry about 354 meters south-southwest of NN2207. This hole cut 73.15 meters (240 feet) of the favorable claystone, still well above the average for the four holes to the north-northeast. The hole was cut at 300 feet due to time and budget constraints and did not penetrate to the basement welded tuff.
The potential for lithium values within both drill holes is supported by the soil geochemistry collected along the slope exposure of the claystone south of NN2207. Previously collected soil samples down slope (section) of this drill site returned assay values of 4,940, 2040, 3640, 1090, and 1440 ppm lithium. These samples were collected on 50-meter intervals with a total elevation change of about 36 meters (120 ft) and are listed in descending elevation order.
Qualified Person as Defined Under National Instrument 43-101
Alan J. Morris of Spring Creek, Nevada, a Qualified Person as defined under Nation Instrument 43-101 has reviewed and approved the technical aspects of this news release.
Figure 1. Drill Hole Location Map
About Surge Battery Metals Inc. surgebatterymetals.com
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and 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.
Nevada Lithium Projects
The Company owns a 100% interest in 154 mineral claims located in Elko County, Nevada. The Nevada North Lithium Project is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance returning assay results for lithium ranging from 29.1 ppm to 5,120 ppm. Significant results included89 samples outlining a highly anomalous zone containing sample points greater than 1,000 ppm lithium. Currently, the zone of highly anomalous lithium values extends about 1,700 meters east-west in two bands each about 300 to 400 meters wide. The anomalous values appear to be in soils developed on airfall or water lain rhyolitic tuff overlain by welded ash flow tuff.
In addition, the Company has a Property Option Agreement to earn an undivided 80% interest in 16 mineral claims, comprising 640 acres located within Nevada’s San Emidio Desert, known as the Galt Property. Recent mineral exploration on the Galt claim group includes 51 playa sediment samples collected for chemical analysis at ALS Geochemistry in Vancouver, B.C. Results of aqua regia leaching of the samples show 68 to 852 parts per million lithium (mean 365 ppm), 5.3 to 201 ppm cesium (mean 72 ppm) and 35 to 377 ppm rubidium (mean 180 ppm). Results from two seven-foot-deep auger holes show lithium, cesium, and rubidium concentrations in the range of 143.5 to 773 ppm Li, 56.8 to 102.5 ppm Cs and 155 to 272 Rb.
Finally, the Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh Projectlocated in Mineral County, Nevada. The property is in an active region for both lithium exploration and production.
Nickel Projects, Northern BC
The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc. The Project (The Surge Nickel Project) consists of two non-contiguous mineral claims groups consisting of 6 mineral claim blocks located in northern British Columbia. One claim in the Mount Sidney Williams area (claim HN4), covers 1863 hectares immediately south of and adjacent to the Decar Project, currently being advanced by FPX Resources, and 5 claims in the Mitchell Range area, northeast of Decar, (N100 Group) covering 8659 hectares. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claim group). Both projects target the nickel-iron alloy mineral “Awaruite”, hosted by serpentinized intrusive rocks of the Trembleur Ultramafic Unit.
On Behalf of the Board of Directors
“Greg Reimer”
Greg Reimer, President & CEO
Contact Information
Email : info@surgebatterymetals.com
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. Forwards-looking statements herein, include statements related to the timing of the closing of the Transaction and future news releases. 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, including risks related to unforeseen variables preventing the closing of the Transaction. 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.