Surge Battery Metals Awaits Drilling Results Targeting Significant Lithium Discovery in Northern Nevada

Rhea-AI Summary

Surge Battery Metals is progressing on its Nevada North Lithium Project with eight drill holes being prepared for analysis. Preliminary results from drill hole NN22-01 show promising lithium concentrations, including a peak of 4,500 ppm at a depth of 10.7 m. However, assay results may be delayed by up to three weeks due to labor shortages and high sample volumes. The project holds significant lithium potential, targeting a deposit in the Granite Range. The company maintains a focus on exploration for high-value battery metals necessary for the electric vehicle market.

Positive

• High lithium concentrations reported in drill hole NN22-01 with an average of 3,093 ppm.
• Significant surface lithium values up to 5,120 ppm confirmed at depths exceeding 64 m.
• Company actively exploring high-value battery metals essential for the EV market.

Negative

• Assay results for the drill holes face delays of up to three weeks due to unprecedented labor shortages.

COQUITLAM, BC / ACCESSWIRE / November 8, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) reports that all eight recently completed drill holes on the 100% owned Nevada North Lithium Project (NNLP), Elko County, Nevadaare currently being prepped for analysis.

Complete results for hole number one are still awaited despite being on a "rush" work order request for the past week. This sample lot having been dried, crushed, sieved, and split is now ready for assay. Unfortunately, the lab reports that even with a "Rush" the assay sheets might not be completed for a further two to there weeks due to unprecedented labour shortages and the unforeseen volume of samples being delivered for assay at this time of year. The same situation is being reported across most, if not all labs, in the US and Canada.

Six "rush" assays, representative and randomly selected samples of silty clay, taken from varying depths in drill hole NN22-01, ranging from a low of 1,790 parts per million to a high of 4,500 ppm lithium (average 3,093 ppm lithium) have previously been announced as follows:

Lithium sample results vertical drill hole NN22-01, total depth of 82.3 metres (270 feet):

• 3,170 ppm from three m to 4.6 m (10 ft to 15 ft); tan clay with fine tuff sand.
• 4,500 ppm from 9.1 m to 10.7 m (30 ft to 35 ft); blue-green silty clay.
• 1,790 ppm from 16.8 m to 18.3 m (55 ft to 60 ft); blue-green silty clay.
• 1,990 ppm from 59.5 m to 61 m (195 ft to 200 ft); dark blue-grey silty clay.
• 2,980 ppm from 61 m to 62.5 m (200 ft to 205 ft); dark blue-grey silty clay.
• 4,130 ppm from 62.5 m to 64 m (205 ft to 210 ft); dark blue-grey silty clay.

Initial results from drill hole NN22-01 confirm that significant surface lithium soil values of up to 5,120 ppm lithium also continue to a depth of over 64 m (210 ft). Drilling in all holes encountered similar silty clay units ranging in drilled depths of up to 91.5 m (300 ft) in most holes and up to a depth of 160 m (525 ft) in drill hole NN22-07. (See https://surgebatterymetals.com/surge-battery-metals-confirms-high-grade-lithium-discovery-in-first-drill-hole-at-nevada-north-project/)

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 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.

View source version on accesswire.com:
https://www.accesswire.com/724509/Surge-Battery-Metals-Awaits-Drilling-Results-Targeting-Significant-Lithium-Discovery-in-Northern-Nevada

FAQ

What are the recent drilling results for NILIF?

Drilling at the Nevada North Lithium Project has shown high lithium concentrations of up to 4,500 ppm in drill hole NN22-01.

When can we expect the assay results for NILIF?

The assay results are expected to be delayed by two to three weeks due to labor shortages and a high volume of samples at testing labs.

What is the lithium concentration found in drill hole NN22-01 for NILIF?

Drill hole NN22-01 has an average lithium concentration of 3,093 ppm, with a peak value of 4,500 ppm at 10.7 m depth.

Where is the Nevada North Lithium Project located for NILIF?

The Nevada North Lithium Project is located in Elko County, Nevada, in the Granite Range southeast of Jackpot.

What is Surge Battery Metals focused on?

Surge Battery Metals is focused on exploring high-value battery metals, particularly lithium for the electric vehicle market.