Surge Battery Metals Announces Best Lithium Results To Date From Drill Holes 7 and 8 at the Nevada North Lithium Project

Rhea-AI Summary

Surge Battery Metals announces notable assay results from the Nevada North Lithium Project. Borehole NN2207 achieved a significant lithium intersection of 120.4 meters averaging 3943 ppm, while NN2208 recorded a peak sample of 5950 ppm. The mineralization strike length has now reached 1,620 meters. The company plans a comprehensive drilling program for 2023 to further explore this promising lithium site. President Greg Reimer emphasizes the project's potential, highlighting its significance in an area not previously known for lithium resources.

Positive

• Hole NN2207 intersected 120.4 meters of lithium-rich claystone with an average of 3943 ppm.
• Hole NN2208 had the highest single sample result of 5950 ppm lithium.
• Mineralization extends to 1,620 meters, indicating substantial lithium potential.
• Plans for a detailed drilling program in 2023 to expand the exploration efforts.

Negative

• None.

COQUITLAM, BC / ACCESSWIRE / January 3, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to release the assay results from holes NN2207 and NN2208 at the 100% owned Nevada North Lithium Project in Elko County, Nevada. Hole NN2207 intersected the thickest intervals of lithium rich claystone encountered to date, a total of 120.4 meters (395 feet) averaging 3943 ppm lithium in four zones. NN2208 had the strongest individual sample interval (5950 ppm lithium between 45 to 50 feet, 13.72 to 15.24 meters) of the maiden 2022 program. The intercepts shown in the table below used a 1,000 ppm lithium cut off without internal dilution.

Table 1. Significant intercepts Holes NN2207 and 08

Hole ID	From ft	To ft	From M	To M	Thickness ft	thickness M	Avg Li ppm
NN2207	35	145	10.67	44.2	110	33.53	4092
NN2207	170	220	51.82	67.06	50	15.24	4081
NN2207	245	435	74.68	132.59	190	57.91	3884
NN2207	465	510	141.73	155.45	45	13.72	3676
					395	120.4
NN2208	0	75	0	22.86	75	22.86	3621
NN2208	85	250	25.91	76.2	165	50.29	3207
NN2208	275	290	83.82	88.39	15	4.57	1780
					180	54.86

Results from the above holes extend the strike length of the mineralization to 1,620 meters from NN2205 to NN2208. Width of the mineralization is not as well determined since the holes are mostly on a north-south alignment because of topography and access but is at least 400 meters and soil anomalies indicate it is likely much more.

Table 2 Previously released significant intercepts

Hole ID	From ft	To ft	From M	To M	Thickness ft	thickness M	Avg Li ppm
NN2201	0	55	0	16.76	55	16.76	3826
NN2201	95	140	28.95	42.67	45	13.72	2958
NN2201	165	225	50.29	68.58	60	18.29	2388
				total	160	48.77	3042
NN2202	0	10	0	3.05	10	3.05	2065
NN2202	50	65	15.24	19.81	15	4.57	1295
				total	25	7.62	1603
NN2203	5	120	1.52	36.57	120	35.05	4008
NN2203	170	200	51.81	60.96	30	9.15	3210
NN2203	235	250	71.62	76.2	15	4.58	1480
				total	165	48.78	3621
NN2204	0	100	0	30.48	100	30.48	3929
NN2204	135	170	41.15	51.81	35	10.66	2563
NN2204	210	215	64	65.53	5	1.53	1500
				total	140	42.67	3501
NN2205	0	115	0	35.05	115	35.05	4000
NN2205	155	190	47.24	57.91	35	10.67	2020
NN2205	220	240	67.05	73.15	20	6.1	2216
				total	170	51.82	3383
NN2206	0	20	0	6.1	20	6.1	1590
NN2206	50	85	15.24	25.91	35	10.67	2479
				total	55	16.77	2155
NN2207	35	145	10.67	44.2	110	33.53	4092
NN2207	170	220	51.82	67.06	50	15.24	4081
NN2207	245	435	74.68	132.59	190	57.91	3884
NN2207	465	510	141.73	155.45	45	13.72	3676
				total	395	120.4	3943
NN2208	0	75	0	22.86	75	22.86	3621
NN2208	85	250	25.91	76.2	165	50.29	3207
NN2208	275	290	83.82	88.39	15	4.57	1780
				total	180	54.86	3088

The company is currently planning for the 2023 field season which will include a detailed drilling program that will commence when ground conditions allow. During the off-season, mineralogical and spectral analysis will be applied to the 2022 drill cuttings along with in-depth reviews of surface and sub-surface geochemistry.

Mr. Greg Reimer, Company President & CEO states: "The results of our maiden drill program have returned impressive lithium values over a strike length of approximately 1,600 meters (5,315 feet). The drill results have confirmed that highly anomalous lithium values persist to depth in the silty clay unit that that appears to underlie the better soil values observed in samples collected last year and earlier this summer.

Our maiden drilling program has identified significant potential for a lithium deposit in an area of northern Nevada not previously recognized for its lithium potential."

Quality Assurance, Quality Control and Data Verification

Drilling utilized a buggy mounted system provided by O'Keefe Drilling Company of Butte, Montana. Site preparation and water handling was provided by Legarza Exploration of Elko, Nevada. Drill cuttings were collected on 5-foot intervals and bagged at the drill site by O'Keefe staff. Samples were collected from the site by the Surge Project geologist / QP and delivered to the ALS Global sample preparation facility in Twin Falls, Idaho. Samples were dried, crushed, and pulverized at the Twin falls facility and sent to the North Vancouver ALS laboratories for analysis. Samples were assayed using the ALS ICP-41 method using an aqua regia leach followed by ICP optical emission spectrography. The detection levels of lithium by this method are 10 - 10,000 ppm.

Quality control standards (MEG-Li.10.11) inserted into the sample submittal returned values well within expected range (750 ppm Li) using this method. Results for internal standards and duplicates provided by ALS were well within accepted values.

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.

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 225 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.

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 Project located 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 Uniton Behalf of the Board of Directors

"Greg Reimer"
Greg Reimer, President & CEO

Contact Information

Email: info@surgebatterymetals.com
Phone: 778-945-2656

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 guaranteeing 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.

Figure 1. Drill Hole Location Map

SOURCE: Surge Battery Metals Inc.

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FAQ

What were the assay results for NN2207 and NN2208 from Surge Battery Metals?

NN2207 recorded 120.4 meters at an average of 3943 ppm lithium, while NN2208 had a peak sample of 5950 ppm.

How long is the lithium mineralization at the Nevada North Lithium Project?

The mineralization now extends to 1,620 meters.

What does Surge Battery Metals plan for the 2023 field season?

The company plans to initiate a detailed drilling program when ground conditions permit.

Who is the president of Surge Battery Metals?

Greg Reimer is the President and CEO of Surge Battery Metals.

What drilling technique was used for the assay results?

A buggy mounted drilling system was utilized for the assay results.