Surge Battery Metals files 43-101 Technical Report on its Caledonia Copper-Silver Project, Nanaimo Mining Division, British Columba

Rhea-AI Summary

Surge Battery Metals has filed a technical report on its Caledonia Silver-Copper Project, dated October 30, 2021. This report adheres to National Instrument 43-101 standards and is available on SEDAR. The Caledonia Project encompasses 7 mineral claims near the historic Island Copper mine, known for extracting significant copper and other metals. The 2021 exploration established a new copper skarn trend and confirmed past assay values. Future exploration phases are planned, with Phase II estimated at $125,000 and Phase III at $245,045.

Positive

• Submission of a technical report adhering to National Instrument 43-101 standards.
• Discovery of a new copper skarn trend over 3 km in strike length.
• High recovery rates for silver and copper indicated from metallurgical testing.
• Significant historical assay values of silver and copper supporting project viability.
• Planned Phase II and III exploration programs with allocated budgets of $125,000 and $245,045, respectively.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 9, 2021 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI, OTCQB:NILIF; FRA:DJ5C) announces that it has filed a technical report entitled "Technical Report on the Caledonia Silver-Copper Project dated October 30, 2021, Nanaimo Mining Division, Port Hardy, Coal Harbour Area, British Columbia, prepared by Johan T Shearer. (the "Report"). The Report has been prepared in accordance with National Instrument 43-101 and can be found under the Company's profile on SEDAR at www.sedar.com.

The Report can also be obtained on the Company's website at www.surgebatterymetals.com/project-copper.

About the Caledonia Project

The Company has an Option to acquire an 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell Crown Grant claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining Division on northern Vancouver Island. The claims are 7 km north-west of BHP's past producing Island Copper mine which was responsible for extracting 345 million metric tonnes @ 0.41% Cu, 0.017% Mo, 0.19 g/t Au, and 1.4 g/t Ag. During its prime operating period the Island Copper mine was Canada's third-largest copper producer. The Caledonia, Cascade and Bluebell claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine which includes the Hushamu and Red Dog deposits and Northwest Expo Zone currently being drilled by Northisle Copper.

The following quotes contain historical estimates on the Property and has been obtained from The B.C. Ministry of Energy and Mines Minfile records for MINFILE No 092L 209 which states: "In 1929, 0.9 tonnes of ore was shipped from the property, grading 514.2 grams per tonne Silver and 7.3 per cent Copper (Malcolm, 1969). A chip sample collected across 1.8 metres in 1926 assayed trace gold, 418.2 grams per tonne Silver, 2.0 per cent Copper, 0.8 per cent lead and 10.0 per cent Zinc (Minister of Mines Annual Report 1926)."

"Sampling in 2007 from trenching returned values of 581.7 g/tonne Silver (16.97 oz./ton), 4.42% Copper, 0.13% Lead, 8.97% Zinc from the skarn deposit. Metallurgical testing indicates that flotation gives high recovery rates for Silver and Copper. Discussions have been initiated regarding shipping a 10,000 tonne bulk sample to the Myra Falls mill" (J.T Shearer P.Geo. report 2013).

In 2021, a program of detailed soil sampling, silt sampling and moss mat sampling along with rock geochemistry and geological mapping was completed. An extensive new road construction program by the local Forestry Company greatly facilitated the exploration work. The results confirm previous assay values of the main Caledonia Showing.

The 2021 field program at Caledonia established a new copper skarn trend over 3 km in strike length and containing and confirming 3 MINFILE occurrences: Caledonia 092L 061, Hill 160 092L 473 and Kettle Pot 092L 476; the copper skarn prospect at Caledonia also contains significant values of silver, manganese and zinc based on representative chip sampling of the trenched outcrop near the Caledonia Upper Adit; the copper skarn showing at Hill 160 yielded a high grade copper value along with significant silver and some gold values as well from a select outcrop grab sample from an old trench. Prospecting and sampling of copper-bearing veins and skarn zones in newly exposed roadcuts northwest of Hill 160 yielded elevated values of various skarn target and indicator elements similar to those obtained from sampling at the Caledonia prospect. A positive correlation exists between the copper skarn mineralization and aeromagnetic highs within an area of faulted and folded Triassic Karmutsen mafic volcanics containing thin interbedded limestone, situated between the Jurassic Wanokana Creek and Quatse Lake quartz diorite to granodiorite plutons. Based on regional geological and geophysical data the favourable environment for similar copper skarn trends extends to the northwest, to the southeast, and to the southwest, adjacent to these plutons.

A Phase II exploration program consisting of continued geological mapping, follow-up percussion drilling and geophysics at a cost of $125,000 is recommended for 2022 and also a further Phase III program contingent on the success of Phase II at an additional cost of $245,045.

Qualified Person

Johan T. Shearer M.Sc., P.Geo. (BC & Ontario) FSEG is 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 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 Claims

The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Northern Nevada Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-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.

The Company has entered into a Property Option Agreement to earn an undivided 80% interest in the San Emidio Desert Lithium Project, subject to a 2% NSR, located 60 miles Northeast of Reno, Nevada from Lithium Corporation (OTCQB: LTUM). The San Emidio Desert Lithium Project consists of 60 mineral claims comprising a total of 4,800 acres and is located in the San Emidio Desert.

Nickel Project, Northern BC

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

The Surge Nickel Project consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area (HN4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (N100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claims).

The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

Caledonia Project, Vancouver Island, BC

The Company has entered into a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. Located in the Nanaimo Mining Division on northern Vancouver Island. The claims are 7 km north-west of BHP's past producing Island Copper mine. During its prime operating period the Island Copper mine was Canada's third-largest copper producer. The Caledonia Project claims area lies within a 50-kilometer-long copper belt northwest of the Island Copper mine.

On Behalf of the Board of Directors

"Greg Reimer"

Greg Reimer, President & CEO

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.

SOURCE: Surge Battery Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/676827/Surge-Battery-Metals-files-43-101-Technical-Report-on-its-Caledonia-Copper-Silver-Project-Nanaimo-Mining-Division-British-Columba

FAQ

What is the significance of the technical report filed by Surge Battery Metals?

The technical report on the Caledonia Silver-Copper Project provides essential information about the project's geological potential and aligns with regulatory standards.

Where can I find the technical report for the Caledonia Project?

The report can be accessed under Surge Battery Metals' profile on SEDAR or on their official website.

What are the exploration plans for the Caledonia Project in 2022?

Surge Battery Metals plans a Phase II exploration program costing $125,000, followed by a Phase III program estimated at $245,045, contingent on Phase II results.

What mineral claims are included in the Caledonia Project?

The Caledonia Project includes 7 mineral claims, including the Caledonia, Cascade, and Bluebell claims located in the Nanaimo Mining Division.

How does the Caledonia Project relate to historical mining activities?

The project is located near the Island Copper mine, which was Canada's third-largest copper producer, highlighting its potential based on historical mining data.