Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project
Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF) has initiated a reverse circulation drilling program on its Clayton Valley Lithium Project in Nevada. The project, covering approximately 2,300 acres, is strategically located adjacent to Albemarle's lithium production facility and near Century Lithium's proposed Angel Island Lithium Mine. The first drill hole has reached a depth of over 870 feet, with remaining holes planned to a maximum depth of 1500 feet.
The drilling program aims to test the depth of accumulated lithium brine and claystones, with the goal of proposing a follow-on exploration program towards an eventual resource calculation and NI# 43-101 Preliminary Economic Assessment. The program is expected to continue until early October, conducted by Envirotech Drilling and supervised by Rangefront Geological and the Company's Qualified Person, Steven McMillin P.G.
Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF) ha avviato un programma di perforazione a circolazione inversa nel suo progetto di litio Clayton Valley in Nevada. Il progetto, che copre circa 2.300 acri, è strategicamente situato vicino all'impianto di produzione di litio di Albemarle e vicino alla proposta Miniera di Litio Angel Island di Century Lithium. Il primo foro di perforazione ha raggiunto una profondità di oltre 870 piedi, con i fori rimanenti previsti fino a una profondità massima di 1500 piedi.
Il programma di perforazione mira a testare la profondità della salamoia di litio accumulata e delle argille, con l'obiettivo di proporre un programma di esplorazione successivo per un'eventuale valutazione delle risorse e una Valutazione Economica Preliminare NI# 43-101. Il programma dovrebbe continuare fino all'inizio di ottobre, condotto da Envirotech Drilling e supervisionato da Rangefront Geological e dal Qualificato della Società, Steven McMillin P.G.
Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF) ha iniciado un programa de perforación por circulación inversa en su Proyecto de Litio Clayton Valley en Nevada. El proyecto, que abarca aproximadamente 2,300 acres, está estratégicamente ubicado adyacente a la instalación de producción de litio de Albemarle y cerca de la propuesta Mina de Litio Angel Island de Century Lithium. El primer pozo de perforación ha alcanzado una profundidad de más de 870 pies, con pozos restantes planeados hasta una profundidad máxima de 1500 pies.
El programa de perforación tiene como objetivo evaluar la profundidad de la salmuera de litio acumulada y las arcillas, con la meta de proponer un programa de exploración posterior hacia un eventual cálculo de recursos y una Evaluación Económica Preliminar NI# 43-101. Se espera que el programa continúe hasta principios de octubre, realizado por Envirotech Drilling y supervisado por Rangefront Geological y la Persona Calificada de la Empresa, Steven McMillin P.G.
Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF)는 네바다에 있는 Clayton Valley 리튬 프로젝트에서 역순환 굴착 프로그램을 시작했습니다. 이 프로젝트는 대략 2,300 에이커의 면적을 차지하며, Albemarle의 리튬 생산 시설 인근과 Century Lithium의 제안된 Angel Island 리튬 광산 근처에 전략적으로 위치해 있습니다. 첫 번째 굴착공은 870피트 이상의 깊이에 도달했으며, 나머지 구멍은 최대 1500피트 깊이로 계획되고 있습니다.
이번 굴착 프로그램의 목표는 축적된 리튬 브라인과 점토층의 깊이를 테스트하는 것이며, 궁극적인 자원 계산과 NI# 43-101 초기 경제 평가로 이어질 후속 탐사 프로그램을 제안하는 것입니다. 프로그램은 10월 초까지 계속될 것으로 예상되며, Envirotech Drilling이 수행하고 Rangefront Geological과 회사의 자격 인정자 Steven McMillin P.G.가 감독합니다.
Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF) a lancé un programme de forage par circulation inversée sur son projet lithium Clayton Valley au Nevada. Le projet, couvrant environ 2 300 acres, est stratégiquement situé à côté de l'installation de production de lithium d'Albemarle et près de la proposition de mine de lithium Angel Island de Century Lithium. Le premier trou de forage a atteint une profondeur de plus de 870 pieds, les trous restants étant prévus jusqu'à une profondeur maximale de 1500 pieds.
Le programme de forage vise à tester la profondeur de la saumure de lithium accumulée et des argiles, dans le but de proposer un programme d'exploration ultérieur en vue d'un éventuel calcul des ressources et d'une Évaluation Économique Préliminaire NI# 43-101. Le programme devrait se poursuivre jusqu'au début d'octobre, réalisé par Envirotech Drilling et supervisé par Rangefront Geological et la personne qualifiée de la société, Steven McMillin P.G.
Grid Battery Metals Inc. (TSXV:CELL, OTCQB:EVKRF) hat ein Reverse-Circulation-Bohrprogramm in seinem Clayton Valley Lithium-Projekt in Nevada eingeleitet. Das Projekt umfasst etwa 2.300 Acres und ist strategisch günstig in der Nähe der Lithiumproduktionsstätte von Albemarle sowie in der Nähe der vorgeschlagenen Angel Island Lithiummine von Century Lithium gelegen. Das erste Bohrloch hat eine Tiefe von über 870 Fuß erreicht, während die verbleibenden Löcher auf eine maximale Tiefe von 1500 Fuß geplant sind.
Das Bohrprogramm zielt darauf ab, die Tiefe der angesammelten Lithiumsole und der Tonsteine zu testen, mit dem Ziel, ein nachfolgendes Erkundungsprogramm für eine mögliche Ressourcenauswertung und die NI# 43-101 vorläufige Wirtschaftlichkeitsrechnung vorzuschlagen. Es wird erwartet, dass das Programm bis Anfang Oktober fortgesetzt wird, durchgeführt von Envirotech Drilling und überwacht von Rangefront Geological sowie der qualifizierten Person des Unternehmens, Steven McMillin P.G.
- Strategic location adjacent to Albemarle's lithium production facility and near Century Lithium's proposed mine
- First drill hole completed to a depth of over 870 feet
- Potential for significant lithium resources based on geological indicators
- Substantial financial commitment to marketing contract with i2i Marketing Group, totaling $1.2 million USD over 6 months
COQUITLAM, BC / ACCESSWIRE / September 26, 2024 / Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV:CELL)(OTCQB:EVKRF)(FRA:W47) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE:ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV:LCE) (OTCQB:CYDVF) proposed 5,430-acre Angel Island Lithium Mine. The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.
Mr. Tim Fernback, Company President and CEO comments "Our Clayton Valley Lithium Project is situated near Albemarle Corporation's (NYSE:ALB) Silver Peak Mine which is North America's only producing lithium brine mining operation. Our property is located immediately to the west of this existing Albemarle lithium production facility. Additionally, our lithium property is near Century Lithium's (TSXV:LCE) (OTCQB:CYDVF) Angel Island lithium project, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of
Mr. Fernback continues "The reverse circulation drilling program is expected to continue until early October and isbeing performed by experienced mining contractor, Envirotech Drilling LLC and supervised by Rangefront Geological ("Rangefront") and our Company Qualified Person Steven McMillin P.G."
Mr. Steven McMillin P.G. comments "There is considerable surface evidence of geothermal activity in this area. Our first drill hole found encountered hydrothermally altered sediments (sinter) affiliated with hot springs from 10 to 265 feet interspersed with intervals of gray clay altered air fall tuff at both 205 feet and 250 feet. It is located nearly 1200 feet east of the nearest mapped tufa and sinter. In Clayton Valley, sinter and tufa are considered surface evidence of geothermal waters that can leach and mobilize lithium from ash layers at depth. Heterolithic gravels occur immediately beneath the sinter and extend to 410 and basalt lava occurs from 410 to 820 feet. The hole ended in Paleozoic sediments at 870 feet."
Images on Location (Clayton Valley Lithium Project)
Planned Drill Locations (Clayton Valley Lithium Project)
The Company also announces that further to its news release dated August 16, 2024, the Company has revised its Marketing Contract with i2i Marketing Group, LLC ("i2i") and the payments will now be as follows:
Upon Exchange Approval the Company will pay i2i an initial payment of
$150,000 USD (the "Initial Media Budget");On the 1st day of October, November and December, 2024, the Company will pay equal payments to i2i of
$150,000 USD for an initial term of four months (the "Initial Term"); andOn the 1st day of January, 2025 and February, 2025 the Company will pay equal payments to i2i of
$300,000 USD for a secondary term of four months (the "Secondary Term").
All other terms of the revised agreement remain the same.
About Rangefront Geological
Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge technology to provide mining consulting services, contract labor, field crew services,and vehicular support to the mining industry. With services available across North America, Rangefront works closely with its clients to provide high-quality mineral exploration services.
Qualified Person
Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.
About Grid Battery Metals Inc. www.gridbatterymetals.com.
Grid Battery Metals Inc. is a Canadian based exploration company 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 Texas Springs Property
The Company owns a
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023). Our exploration results are on-trend with these results.
About Clayton Valley Lithium Project
The Company owns a
Volt Canyon Lithium Property
The Company owns a
On Behalf of the Board of Directors
"Tim Fernback"
Tim Fernback, President & CEO
Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 428-5690
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 news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).
SOURCE: Grid Battery Metals Inc.
View the original press release on accesswire.com
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