NIKLF - Fundamental Research Initiates Coverage on Grid Battery Metals and Publishes its Initiation Research Report
(TheNewswire)
Coquitlam, BC – May 9, 2024 – TheNewswire – Grid Battery Metals Inc. (the “Company” or “Grid”) ( TSXV: CELL, OTCQB: EVKRF FRA:NMK2 ) is pleased to reportthat Fundamental Research Corp. ("Fundamental" or“FRC”) has initiated coverage of the Company. The InitiatingCoverage Report can be viewed at Fundamental's website and variousthird-party websites.
Fundamental is one of the largest independent equityresearch firms in the world, specializing in small-cap companies andhaving covered over 650 companies in its 19 years of operation.Fundamental provides fee-based coverage to companies and Gridexpresses no opinion on the fully independent forecasts, conclusions,and recommendations of Fundamental. Grid contracted Fundamental toprovide its third-party independent research report services forCAD$25,000 + GST.
The Fundamental Research Corp.’s Initiation ResearchReport includes a third-party independent review of Grid BatteryMetals, an Enterprise Valuation Analysis and a Share Price Targetcompleted by FRC’s VP & Head of Research, Mr. Siddarth Rajeev,B. Tech (Electronics Engineering), MBA (Finance), CFA.
About Fundamental ResearchCorp.
FRC is one of the largest independent equity researchfirms in the world, having covered over 650 companies in its 21 yearsof operation. FRC provides fee-based coverage to companies and Gridexpresses no opinion on the fully independent forecasts, conclusions,and recommendations of FRC. Their research is being used by some ofthe largest institutional investors in the world who access it throughchannels such as Reuters, S&P Capital IQ, Bloomberg, and bysubscription.
FRC takes steps to ensure independence includingsetting fees in advance and utilizing analysts who must abide by CFAInstitute Code of Ethics and Standards of Professional Conduct.Additionally, analysts may not trade in any security under coverage.FRC has full editorial control of all research, timing of release ofthe reports, and release of liability for negative reports areprotected contractually.
Grid Battery Metals Inc.is a Canadian based exploration company whose primary listing is onthe TSX Venture Exchange. The Company’s maintains a focus onexploration for high value battery metals required for the electricvehicle (EV) market.
The Company owns a 100%interest in the Texas Spring Property which consists of mineral lodeclaims located in Elko County, Nevada. The Property is in theGranite Range southeast of Jackpot, Nevada, about 73 kmnorth-northeast of Wells, Nevada. The target is a lithium clay depositin volcanic tuff and tuffaceous sediments of the Humbolt Formation. APhase 1 exploration program at the Texas Springs Property (Fall 2023)yielded r esults with average lithium grades of 2010ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppmLithium .
The Texas Springproperty adjoins the southern border of the Nevada North LithiumProject - owned by Surge Battery Metals Inc. (“Surge”) (TSXV:NILI, OTC: NILIF) and comprised of 725 mineral claims. Surge's firstround of drilling identified strongly mineralized lithium bearingclays. The average lithium content within all near surface clay zonesintersected in the 2022 drilling program, applying a 1000 ppm cut-off,was 3254 ppm. (Press release March 29,2023 ). Morerecent results have shown higher grade lithium up to 8070 ppm on thisproperty after initial drilling (Press release September 12,2023 ). Ourexploration results are on-trend with these results.
AboutClayton Valley Lithium Project
The Company owns a 100%interest in 113 lithium lode and placer claims covering over 640hectares in Clayton Valley. Clayton Valley is a down-dropped closedbasin formed by the Miocene age Great Basin extension and is stillactive due to movement along the Walker Lane structural zone. As aresult, the basin has preserved multiple layers of lithium bearingvolcanic ash, resulting from multiple eruptive events over the past 6million years including eruptions from the 700,000-year-old LongValley Caldera system and related events. These ash layers arethought to contribute to the lithium brines extracted by Albemarle andare also likely involved in the formation of the exposed lithium richclay deposits on the east side of Clayton Valley.
The Company owns a 100%interest in 80 placer claims covering approximately 635 hectares ofalluvial sediments and clays located 122 km northeast of Tonopah,Nevada.
On Behalf of the Boardof Directors
Email: info@gridbatterymetals.com
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease. This news release may contain forward-looking statementswhich include, but are not limited to, comments that involve futureevents and conditions, which are subject to various risks anduncertainties. Except for statements of historical facts, commentsthat address resource potential, upcoming work programs, geologicalinterpretations, receipt and security of mineral property titles,availability of funds, and others are forward-looking. Forward-lookingstatements are not guarantees of future performance and actual resultsmay vary materially from those statements. General business conditionsare factors that could cause actual results to vary materially fromforward-looking statements. It should be noted that results from any adjacent property(s) are notan indication of what may be found on the Company’sproperty(s).
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