Surge Battery Metals Announces Successful Completion of its Phase 1 Exploration Program on the Ni100 Nickel Project Located in Northern British Columbia

Rhea-AI Summary

Surge Battery Metals Inc. has announced the successful completion of the first stage of its CAD$440,000 exploration program on its Ni100 Nickel Project. The geological team collected 304 rock samples and conducted mapping, targeting airborne magnetic anomalies. Previous sampling in May and June yielded results with more than 2000 ppm Nickel. The company expects initial ICP analysis results in Q3, with further exploration planned for Q3 and Q4. Surge is focused on nickel and lithium exploration to support the electric vehicle market.

Positive

• Completion of Phase 1 exploration on Ni100 Nickel Project.
• 304 rock samples collected, with significant nickel content found.
• Plans for Phase 2 exploration underway, targeting high-value DTR results.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 22, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C), Mr. Greg Reimer, President, is pleased to announce that the first stage of a planned CAD$440,000 detailed geological mapping, soil and rock sampling survey on its 80% owned Nickel Project has been completed.

The Surge geological team has collected 304 rock samples while conducting geological and structural mapping on the Ni100 block. Earlier in May and June, crews have collected approximately 600 soil and 190 rock samples from the HN4 mineral claim adjoining the southwest portion of the Decar Nickel Project of FPX Nickel Corp.

A four-person exploration team was onsite at the Ni100 claim group for approximately 14 days of helicopter accessed exploration from nearby camps. The work program targeted a dozen airborne magnetic anomalies that are coincident with mapped ultramafic units. Much of the rock samples consisted of the Trembleur Ultramafic sequence with varying degrees of serpentinization. Multiple minfiles exists across the property with numerous samples returning greater than 2000 ppm Nickel. Work undertaken in 2021 by Nickel Rock Resources included 54 rock samples taken with 41 of the samples exceeding 1500 ppm Nickel.

Samples have been sent to SGS Canada in Burnaby with results expected for initial ICP analysis in Q3. Davis Tube Recovery (DTR) is a magnetic separation technique and will be applied to all rocks exceeding a threshold of 1000 ppm Ni. These results are to follow within another 3-4 weeks post ICP analysis.

Plans for Phase 2 exploration are underway. Analytical results from the earlier HN4 program are expected imminently. Exploring the areas hosting the greatest DTR Ni results will the focus of the Phase 2 program and may include further prospecting and mapping, back pack and diamond drilling in Q3 and Q4.

Jeremy Hanson, P. Geo, a qualified person as defined by NI 43-101, is responsible for the technical information contained in this 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

Contact Information
Email: info@surgebatterymetals.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 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 are the results of the Phase 1 exploration on the Ni100 Nickel Project?

The Phase 1 exploration resulted in the collection of 304 rock samples, with several samples returning over 2000 ppm Nickel.

When will the ICP analysis results for the nickel samples be available?

Initial ICP analysis results are expected in Q3, with follow-up results from Davis Tube Recovery to follow in 3-4 weeks.

What is the purpose of the Phase 2 exploration program?

Phase 2 exploration will focus on areas with the highest DTR Ni results and may include further prospecting, mapping, and drilling.

What is Surge Battery Metals' strategy in the electric vehicle market?

Surge Battery Metals is focused on exploration for high-value battery metals like nickel and lithium to support the electric vehicle market.

What other projects does Surge Battery Metals have besides the Ni100 Nickel Project?

Surge also has projects focused on lithium in Nevada, including the Nevada North Lithium Project and the Teels Marsh Lithium Project.