Grid Battery Metals Update - Drilling Completed on its Clayton Valley Lithium Project
Grid Battery Metals has completed its reverse circulation drilling program at its Clayton Valley Lithium Project in Nevada. The project covers 2,300 acres adjacent to Albemarle's evaporation ponds and near Century Lithium's proposed Angel Island Lithium Mine. The company completed five holes totaling 4,730 feet, with the deepest reaching 1,160 feet. The drilling encountered variable conditions, including high water temperatures and volumes, with evidence of hot spring alteration and clay layers. Drill cuttings and water samples have been sent for analysis, with results expected in mid-late November.
Grid Battery Metals ha completato il suo programma di perforazione a circuito inverso presso il suo progetto di litio Clayton Valley in Nevada. Il progetto copre 2.300 acri adiacenti alle vasche di evaporazione di Albemarle e vicino alla proposta della Miniera di Litio Angel Island di Century Lithium. L'azienda ha completato cinque fori per un totale di 4.730 piedi, con il più profondo che raggiunge 1.160 piedi. La perforazione ha incontrato condizioni variabili, comprese alte temperature e volumi d'acqua, con evidenze di alterazione da sorgente termale e strati d'argilla. I campioni di taglio e d'acqua sono stati inviati per analisi, con risultati attesi per la metà-fine di novembre.
Grid Battery Metals ha completado su programa de perforación de circulación inversa en su Proyecto de Litio Clayton Valley en Nevada. El proyecto cubre 2,300 acres adyacentes a los estanques de evaporación de Albemarle y cerca de la propuesta de la Mina de Litio Angel Island de Century Lithium. La empresa completó cinco pozos que totalizan 4,730 pies, siendo el más profundo de 1,160 pies. La perforación encontró condiciones variables, incluyendo altas temperaturas y volúmenes de agua, con evidencia de alteración de manantiales termales y capas de arcilla. Las muestras de recortes de perforación y de agua han sido enviadas para análisis, y se esperan resultados a mediados y finales de noviembre.
Grid Battery Metals는 네바다의 Clayton Valley 리튬 프로젝트에서 역순환 드릴링 프로그램을 완료했습니다. 이 프로젝트는 Albemarle의 증발 연못에 인접한 2,300 에이커를 포함하며, Century Lithium의 제안된 Angel Island 리튬 광산 근처에 위치해 있습니다. 이 회사는 총 4,730 피트에 달하는 다섯 개의 구멍을 완료했으며, 가장 깊은 구멍은 1,160 피트에 도달했습니다. 드릴링 과정에서는 고온의 온수와 다량의 수량을 포함한 다양한 조건을 만나며, 온천 변화와 점토층의 흔적이 확인되었습니다. 드릴링 컷팅과 수질 샘플이 분석을 위해 발송되었으며, 결과는 11월 중순에서 말 사이에 예상됩니다.
Grid Battery Metals a achevé son programme de forage à circulation inversée sur son projet de lithium Clayton Valley au Nevada. Le projet couvre 2 300 acres adjacent aux bassins d'évaporation d'Albemarle et près de la future Mine de Lithium Angel Island de Century Lithium. L'entreprise a complété cinq trous totalisant 4 730 pieds, le plus profond atteignant 1 160 pieds. Le forage a rencontré des conditions variables, y compris des températures et des volumes d'eau élevés, avec des preuves d'altération de sources chaudes et de couches d'argile. Les échantillons de carottes et d'eau ont été envoyés pour analyse, avec des résultats attendus pour la mi-fin novembre.
Grid Battery Metals hat sein Rücklaufbohrprogramm im Clayton Valley Lithium Projekt in Nevada abgeschlossen. Das Projekt erstreckt sich über 2.300 Acres und liegt angrenzend an die Verdunstungsteiche von Albemarle sowie in der Nähe des vorgeschlagenen Angel Island Lithium Bergwerks von Century Lithium. Das Unternehmen hat fünf Löcher mit einer Gesamtlänge von 4.730 Fuß fertiggestellt, wobei das tiefste 1.160 Fuß tief ist. Die Bohrungen trafen auf unterschiedliche Bedingungen, darunter hohe Wassertemperaturen und -mengen, sowie Hinweise auf heiße Quellenveränderungen und Tonschichten. Bohrgut und Wasserproben wurden zur Analyse versendet, und die Ergebnisse werden für Mitte bis Ende November erwartet.
- Strategic location adjacent to Albemarle's operations and Century Lithium's proposed $3.01B NPV project
- Successful completion of drilling program with 5 holes reaching significant depths
- Evidence of hot spring alteration found, which can indicate potential lithium mineralization
- Variable drilling conditions and bad ground conditions caused loss of one hole
- Results pending, creating uncertainty about actual lithium content
COQUITLAM, BC / ACCESSWIRE / October 28, 2024 / Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV: CELL)(OTCQB:EVKRF)(FRA:W47) is pleased to announce that its reverse circulation drilling program has now been completed 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, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of
Mr. Tim Fernback, Company President and CEO comments "Now that our fall drilling program at our Clayton Valley Lithium Project has been successfully completed, we are eagerly awaiting the lithium assay results from the lab. One of the stated goals of the planned drilling program was to test the depth of the accumulated lithium brine and claystones on our property. With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual maiden resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders."
Exploration Images from the Clayton Valley Lithium Project
Mr. Steven McMillin P.G. comments "We ended the drilling program with our last hole drilled to a depth of 1,160 feet, testing a considerable section of possible lithium bearing sediments on the property. In total, five holes were completed for 4730 total feet. Four holes were originally planned, but a fifth hole (RCV-08) was offset from RCV-06 that was lost at a shallow depth to bad ground conditions. We encountered highly variable drilling conditions in each hole including high water temperatures and volumes. Lithologies were also variable from hole to hole. However, in most holes we encountered evidence of hot spring style alteration within the first 600 feet in the form travertine and tufa. Several heavy clay layers were encountered in most holes that could have originally been tuff units. Our last hole (RCV-08) was terminated by an impenetrable zone of heavy brick red ball clay. In Clayton Valley, sinter, travertine, and tufa are considered surface evidence of geothermal waters that can leach and mobilize lithium from ash layers at depth. Both drill cuttings and water were sent for analysis."
Mr. Fernback continues "The results from the Clayton Valley Lithium Project fall drilling program are expected to arrive in mid-late November."
Area Map (Clayton Valley Lithium Project)
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
About the Volt Canyon Lithium Property
The Company owns a
About the British Columbia Copper Project
The Company acquired a
The Company's claims are also located between Centerra Gold Inc.'s (TSX:CG, NYSE:CGAU) prominent Copper/Gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.).
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
FAQ
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