Surge Announces Soil Sampling on Recently Acquired Property
West Vancouver, November 1, 2023 - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that the Company has retained Rangefront Geological ("Rangefront") to perform detailed soil sampling at Surge's Nevada North Lithium Project (the "NNLP").
The Company continues to advance the NNLP and in July 2023 announced a strategic acquisition by entering into a mineral property option and joint venture agreement with M3 Metals Corp. (M3M). This agreement included claims to the south and southwest of Surge's existing NNLP deposit which ensured Surge controlled some potential extensions of its existing high tenor lithium clay deposit.
Rangefront collected 598 soil samples in the west/southwest corner of the expanded Surge property boundary which includes some of the property acquired from M3M. The Company considers this area to be highly prospective and will further test for extensions of clay beds that were assayed for high levels of lithium in the 2022 and 2023 drilling programs.
Rangefront's Elko Nevada-based operations have worked closely with Surge in the past and have both the local and in-depth knowledge and expertise to complete this project.
Surge is also pleased to announce that Dan Chafetz has joined the company as Project Geologist. Dan comes to us after several years with Ioneer Ltd., working on their Rhyolite Ridge Project. Dan has a Batchelor of Science from the Colorado School of Mining and is currently defending his thesis at the University of Nevada in the Masters of Science Program with a major in Geochemistry and Geology.
Working closely with and under the guidance of Senior Geologist, Alan Morris, Dan will initially start with the Company's geologic mapping program that will continue to advance our understanding of the Nevada North Lithium Project deposit. That work is critical as the Company works towards defining the boundaries of the NNLP deposit, supporting the conceptual mining engineering and any future resource statements as we advance the development of this important, shallow and high grade lithium deposit.
Mr. Greg Reimer, Chief Executive Officer, and Director, commented, "This soil sampling program is another positive step the Company is taking to further expand the footprint of lithium claystone mineralization at the NNLP. Soil sampling has proven to be an effective tool in identifying the location of lithium claystone mineralization, as demonstrated by the successful 2022 soil sampling program and follow-up drilling campaigns."
"We also welcome and are excited to add Dan Chafetz to the Surge team and look forward to him assisting the company in the continued advancement of the NNLP."
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.
Figure 1: Soil Sampling Program in the West/Southwest Area of the NNLP.
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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 in Canada and the OTCQX Market in the US. The Company's 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.
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 8070 ppm lithium with an average of 4,067 ppm lithium at a 1,000 ppm cut-off.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
President & CEO
Contact Information
Email : info@surgebatterymetals.com
Phone : 604-662-8184
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.
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