Surge Battery Metals Announces Drilling Underway at the Hard Nickel Four Project, Decar Nickel District, Central BC

Rhea-AI Summary

Surge Battery Metals Inc. has announced the commencement of drilling at its 80% owned Hard Nickel 4 project in British Columbia. Three diamond drill holes totaling 900 meters are planned, with the first hole completed to a depth of 300 meters. Preliminary analyses indicate intersection of nickel-bearing ultramafic rock. The project aims to explore elevated nickel concentrations and magnetic anomalies. Previous fieldwork showed significant nickel levels, and the current drilling campaign is designed to confirm these findings.

Positive

• Drilling commenced on the Hard Nickel 4 project, indicating active exploration efforts.
• First drill hole completed successfully, reaching a depth of 300 meters.
• Preliminary findings show promising nickel presence in serpentine altered peridotite.

Negative

• Pending results from further drill holes may introduce uncertainty until verified.
• -

COQUITLAM, BC / ACCESSWIRE / November 9, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) Mr. Greg Reiner, President, is pleased to announce drilling has commenced on Surge's 80% owned Hard Nickel 4 project in central British Columbia. Three diamond drill holes are planned for a total of 900 meters of coring; at the time of writing hole 1 (HN4-22-01) has been completed to a total depth of 300 meters.

Preliminary analysis of core from HN4-22-01 indicates drilling has successfully intersected strongly serpentine altered peridotite exhibiting strong magnetic response and elevated nickel as indicated by portable XRF. Core will be analyzed using Davis Tube magnetic separation to test for the presence of awaruite - a magnetic iron-nickel alloy which forms the main ore mineral at the nearby Decar Project operated by FPX Nickel Corp. (TSX-V:FPX). The second drill hole, hole HN4-22-02, is currently being collared to test the continuity of the nickel-bearing ultramafic unit encountered in HN4-22-01 and in field sampling programs.

Previous fieldwork by geological crews in 2021 and 2022 highlighted elevated nickel in serpentinized peridotite of the Trembleur Ultramafic suite associated with a regional magnetic anomaly where grab samples of this unit returned up to 2361ppm Ni (see Surge press release dated July 5, 2022). Follow up exploration of magnetic anomalies returned up to 0.0647% Davis Tube Recoverable ("DTR") nickel (Sample F00070721).

The 2022 drill campaign by Surge Battery Metals Inc. is designed to target coincident elevated DTR nickel in grab samples and magnetic highs.

Qualified person and data verification

Jeremy Hanson, PGeo, a qualified person as defined by NI 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No QA/QC issues have been identified to date.

Figure 1 - HN4 Claim map with magnetic anomalies overlain by Davis Tube Recoverable rock samples and proposed drill holes.

About Surge Battery Metals Inc. surgebatterymetals.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper 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 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.

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.

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
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.

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FAQ

What is the status of drilling at the Hard Nickel 4 project?

Drilling has commenced with three holes planned for a total of 900 meters.

What were the preliminary findings from the first hole drilled at Hard Nickel 4?

Preliminary analysis indicates strong nickel presence in serpentine altered peridotite.

How deep was the first drill hole completed at the Hard Nickel 4 project?

The first drill hole (HN4-22-01) was completed to a depth of 300 meters.

What are the future plans for drilling in the Hard Nickel 4 project?

The second drill hole is underway to test the continuity of the nickel-bearing unit.

What previous findings support the current drilling efforts at Hard Nickel 4?

Past fieldwork showed elevated nickel levels, with grab samples returning up to 2361 ppm Ni.

What type of analysis is being done on the drill core samples?

Core will be analyzed using Davis Tube magnetic separation to test for awaruite.