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Surge Continues to Intercept Significant Lithium Results with Second 2023 Hole up to 5820 ppm Lithium

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Surge Battery Metals Inc. announces positive assay results from drilling program at Nevada North Lithium Project, with values ranging from 1,000 ppm to 5820 ppm lithium. Highest grade zone has composite grade of 3,985 ppm Li. Composite grade of clay horizons in NN2302 is 15% higher than 2022 drillholes. Drill site location W approved for drilling. CEO anticipates assay results from other drillholes.
Positive
  • Positive assay results with values ranging from 1,000 ppm to 5820 ppm lithium
  • Highest grade zone with composite grade of 3,985 ppm Li
  • Composite grade of clay horizons in NN2302 is 15% higher than 2022 drillholes
  • Drill site location W approved for drilling
Negative
  • None.

West Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5C) (the "Company" or "Surge") is pleased to announce that the second certified assay results from the summer drilling program at the Nevada North Lithium Project returned values ranging from 1,000 ppm to 5820ppm lithium.

Samples from sonic drill hole NN2302 (Drill site location M) returned positive results ranging between the 1,000 ppm cutoff to 5820 ppm Li. This includes the highest grade zone which begins at 67.5ft (20.57m) below surface and extends 180 ft (54.86m) with an overall composite grade of 3,985 ppm Li. (See Appendix 1 for interval values). NN2302 has a composite thickness of intersected clay horizons of 41.2m (135ft), for an overall average grade of 3712 ppm Li. Significantly, the composite grade of clay horizons encountered in NN2302, is 15% higher than the average composite grade of clay horizons intersected in the reverse circulation drillholes completed in 2022.

The 2023 drill site locations were designed to confirm the presence of high tenor lithium clay formations, interpreted from geophysical surveys, extending well outside the bounds of the 2022 program. NN2302 is an approximate 250m (820 ft) step out to the northwest from NN2205 from the 2022 program which produced an overall program average grade of 3,254 ppm with a 1,000 ppm cut off.

Composite lithium values for both mineralized horizons, using a 1,000 ppm cutoff with no internal dilution, are shown in the following table:

From ft (m)To ft (m)Thickness ft (m)Grade (ppm Li)
67.5 (20.57)180 (54.86)112.5 (34.29)3985
237.5 (72.39)260 (79.24)22.5 (6.85)2346
Average
135.0 (41.2)3712

 

All samples from the sonic drilling were collected in plastic bags for every 2.5-foot (76.2 cm) interval. Surge workers at the rig retained a representative sample in chip trays and core boxes for each interval and sealed the bags with wire ties. Samples were transported by Surge workers to a locked warehouse in Elko, Nevada where they were stored for sub-sampling. The sample bags were opened at the warehouse, a sub-sample of approximately 25% of the material was bagged for assay and the original sample bags were overwrapped for storage. Samples were then submitted to the ALS facility in Elko, Nevada for analysis. ALS is independent of the Company. The samples batches included 6% insertion of QA/QC samples, including blanks, duplicates, and commercially obtained standards. Both duplicates and standards ran within 4 percent of the known and duplicated values, with the blanks reporting no greater than 20 parts per million lithium.

Surge receives Regulatory Approval for Drill Site "W"

Our news release of August 29, 2023, indicated that recently completed drilling successfully intersected the known lithium clay horizons, extending the strike length of the deposit from 1,620 meters to 3,000 meters. We did not drill site "U" but applied to the BLM to replace it with drill site " W", 500 meters further north, extending the strike length of the deposit to 3,500 meters.

The BLM has approved drill site location W and it will be drilled in the coming week to conclude our 2023 summer drill program.

Mr. Greg Reimer, Chief Executive Officer, and Director commented: "Not only has NN2302 returned a significant average grade greater than our 2022 program, but it is also noteworthy in that it is an approximate 250m (820 ft) step out to the northwest of drillhole NN2205 from the 2022 program. We are eagerly awaiting assay results from holes P and V, located 300m and 1300m further north, respectively, where similar clay units were encountered during 2023 drilling and logging."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG 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.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm. (See news release dated March 29, 2023)

The 2023 drill program is underway and is designed to expand the known lithium-rich clay from the current 1,620 meters strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. Initial assay results from the first hole of the 2023 season had a high of 8,070 ppm lithium with an average of 4,067 ppm lithium at a 1,000 ppm cut-off. (See news release dated August 13, 2023)

On behalf of the Board of Directors

"Greg Reimer"

Greg Reimer,
President & CEO

Contact Information

Email : info@surgebatterymetals.com
Phone: 778-945-2656
Website: surgebatterymetals.com

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 document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

Appendix 1

Hole IDFrom ftTo ftFrom mTo mLi ppm
NN230267.57020.5721.335400
NN23027072.521.3322.15370
NN230272.57522.122.865080
NN23027577.522.8623.625330
NN230277.58023.6224.384570
NN23028082.524.3825.144230
NN230282.58525.1425.913510
NN23028587.525.9126.674370
NN230287.59026.6727.434210
NN23029092.527.4328.195260
NN230292.59528.1928.955340
NN23029597.528.9529.725230
NN230297.510029.7230.482720
NN2302100102.530.4831.243880
NN2302102.510531.24324260
NN2302105107.53232.764850
NN2302107.511032.7633.534420
NN2302110112.533.5334.294430
NN2302112.511534.2935.054670
NN2302115117.535.0535.814280
NN2302117.512035.8136.575820
NN2302120122.536.5737.344760
NN2302122.512537.3438.14850
NN2302125127.538.138.863980
NN2302127.513038.8639.624030
NN2302130132.539.6240.383800
NN2302132.513540.3841.153240
NN2302135137.541.1541.913320
NN2302137.514041.9142.673790
NN2302140142.542.6743.433670
NN2302142.514543.4344.193150
NN2302145147.544.1944.963650
NN2302147.515044.9645.723070
NN2302150152.545.7246.483020
NN2302152.515546.4847.243210
NN2302155157.547.24483270
NN2302157.51604848.772830
NN2302160162.548.7749.533040
NN2302162.516549.5350.293590
NN2302165167.550.2951.053770
NN2302167.517051.0551.813440
NN2302170172.551.8152.583500
NN2302172.517552.5853.342030
NN2302175177.553.3454.13680
NN2302177.518054.154.861420

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181882

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