Surge Battery Metals Announces Drill Testing of Large Lithium Anomaly Now Underway

Rhea-AI Summary

Surge Battery Metals has commenced drilling operations on its Nevada North Lithium Project, following approval for a 15-hole program from the BLM. The project aims to investigate areas with previously reported lithium assays reaching 5,120 ppm. The exploration area indicates a substantial extension of 1,700 meters with significant surface lithium values. Recent claim staking has expanded the project to 154 mineral claims covering approximately 794 Ha. The company remains optimistic about future results, focusing on exploring high-value battery metals for the EV market.

Positive

• Commencement of drilling on Nevada North Lithium Project following BLM approval for 15-hole drill program.
• Previous sampling indicated lithium assays up to 5,120 ppm, suggesting significant resource potential.
• Expansion of the project area to 154 mineral claims covering about 794 Ha.
• Positive comments from CEO regarding the size of the anomalous lithium area and ongoing financing for exploration.

Negative

• None.

COQUITLAM, BC / ACCESSWIRE / September 20, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to report drilling is now underway on the 100% owned Nevada North Lithium Project. The Company has been approved by the BLM for a 15-hole drill program.

The drill program will test the area of previous sampling where assay results for lithium ranged up to 5,120 ppm or 0.51% Li. Significant results from sampling this summer included 89 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.

Recent staking by the Company has increased the property to 154 mineral claims that now covers about 794 Ha or 1,926 acres, (7.84 sq km). At the time of the claim staking, an additional 471 soil samples were collected from the new claims and adjacent ground to help direct future exploration. These samples have been shipped to the lab and results will be made available once received by the Company, likely in the next several weeks.

Mr. Greg Reimer, Company President & CEO states: "Work to date indicates a large area of anomalous to highly anomalous lithium values in surface soils. Our team is encouraged by the large size of the anomalous area as well as the tenor of the lithium values found to date. The Company has been approved by the BLM for a 15-hole drill program. We hope to announce details on this in the very near future. As previously reported our plan is to continue work at this new discovery throughout the fall months and we are well financed to do so."

Figure 1: Geochemical Results Map of the Nevada North Lithium Project, Nevada

Alan J. Morris of Spring Creek, Nevada is the qualified person for Surge Battery Metals and has 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 95 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 Thacker Pass or Clayton Valley type 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 included 89 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.

San Emidio Project-Galt Claims

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.

Teels Marsh Lithium Project

A recent addition to Surge's portfolio is the Teel's Marsh Lithium Project. Located a few miles north of Clayton Valley this highly prospective property has had USGS geochemical survey sample reports as high as 850 ppm lithium. Teel's Marsh's potential also extends to the fact that it hosts significant zones of permeability because of volcanic ash beds, which have proven to be the most productive brine sources in Clayton Valley. A sonic drilling program is envisaged as the next stage of exploration.

Nickel North Project, British Columbia

The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc. The 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 Corp., 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.

A September 7, 2022, FPX News Release stated: FPX Nickel Scoping Study Outlines Development of World's Largest Integrated Nickel Sulphate Operation for EV Battery Supply Chain at Baptiste Project in British Columbia.

On Behalf of the Board of Directors
"Greg Reimer"
Greg Reimer, President & CEO
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 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.

SOURCE: Surge Battery Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/716597/Surge-Battery-Metals-Announces-Drill-Testing-of-Large-Lithium-Anomaly-Now-Underway

FAQ

What recent activities did Surge Battery Metals announce for NILIF?

Surge Battery Metals has announced the commencement of a 15-hole drilling program on its Nevada North Lithium Project to test areas with high lithium assays.

What were the lithium assay results reported by Surge Battery Metals?

The company reported lithium assays as high as 5,120 ppm, with significant sample points exceeding 1,000 ppm in recent sampling.

How many mineral claims does Surge Battery Metals hold in the Nevada North Lithium Project?

Surge Battery Metals currently holds 154 mineral claims covering approximately 794 hectares in the Nevada North Lithium Project.

What is the significance of the new drilling program for NILIF investors?

The drilling program aims to explore previously identified areas of high lithium grades, which may enhance the project's resource value and impact stock performance.

When can we expect the results from the additional soil samples collected by Surge Battery Metals?

The laboratory results from the 471 soil samples collected are expected to be available in the coming weeks.