Surge Battery Metals Expands the Nevada North Lithium Project Land Package

Rhea-AI Summary

Surge Battery Metals Inc. (TSXV:NILI, OTC PINK:NILIF) has announced the acquisition of a 100% interest in 71 additional mineral claims, expanding its Nevada North Lithium Project to a total of 243 claims covering approximately 1,946 hectares. Recent drilling results indicated strong lithium values, reaching up to 5,950 ppm, suggesting potential for a significant lithium deposit in northern Nevada. The company plans further drilling in 2023 to explore the identified mineralization, which has a strike length of 1,620 meters and is believed to be open for additional development.

Positive

• Acquired 71 additional mineral claims, increasing total to 243 claims.
• Drilling results show strong lithium values up to 5,950 ppm.
• Mineralization has a significant strike length of approximately 1,620 meters.

Negative

• None.

COQUITLAM, BC / ACCESSWIRE / January 10, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to report that the Company has acquired a 100% interest in 71 additional mineral claims resulting from a recently completed staking program. The Nevada North Lithium Project now comprises 243 mineral claims with a total area footprint of approximately 1,946 hectares or 4,810 acres. The land package is 100% owned and completely free of royalties.

Recently announced drill results (see News Release dated Jan. 3, 2023)News Release dated Jan 3, 2023) have demonstrated the potential for a significant lithium discovery at the Nevada North Lithium Project located in Elko County about 73 Km north-northeast of Elko Nevada.

The maiden drilling program, consisting of eight widely spaced drill holes, has identified strong lithium values (up to 5950 ppm) associated with a series of stacked blue-green clay layers up to 120.4 meter or 395 feet thick. To date mineralization, as evidenced by drilling, has a strike length of approximately 1,620 meters or 5,315 feet. 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. The mineralization appears to be open to further development given the dimensions of a widespread lithium soil anomaly shown on the accompanying map.

Mr. Greg Reimer, Company President & CEO states: "The results of our maiden drill program have returned impressive lithium values over a significant area giving rise to optimism that we may have discovered a major lithium deposit in an area of northern Nevada not previously recognized for its lithium potential.

The company is now planning for the 2023 field season which will include additional drilling when ground conditions allow. Mineralogical and spectral analysis will be applied to the 2022 drill cuttings along with in-depth reviews of surface and sub-surface geochemistry as part of this phase of work."

Qualified Person as Defined Under National Instrument 43-101: Alan J. Morris of Spring Creek, Nevada, a Qualified Person as defined under National 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 lithium in Nevada and for nickel-iron alloy in British Columbia and 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 243 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 six 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

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: Soil Sample Results - Lithium

SOURCE: Surge Battery Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/734582/Surge-Battery-Metals-Expands-the-Nevada-North-Lithium-Project-Land-Package

FAQ

What is the significance of Surge Battery Metals acquiring additional claims?

The acquisition expands their Nevada North Lithium Project, enhancing their resource potential significantly.

What were the results of the recent drill program at the Nevada North Lithium Project?

The drill program identified strong lithium values up to 5,950 ppm and a strike length of 1,620 meters.

What does the future hold for Surge Battery Metals regarding lithium exploration?

The company plans to conduct further drilling and analysis in 2023 to continue exploring the lithium potential.

What is the total area covered by the Nevada North Lithium Project?

The Nevada North Lithium Project now covers approximately 1,946 hectares or 4,810 acres.

Where is the Nevada North Lithium Project located?

It is located in Elko County, about 73 km north-northeast of Elko, Nevada.