NIKLF - Grid Battery Exploration Team begins work on its Clayton Valley Lithium Project
(TheNewswire)
Coquitlam, BC – TheNewswire - March 28, 2024 - Grid Battery MetalsInc. (the “Company” or “Grid”) (TSXV:CELL, OTCQB: EVKRF FRA: NMK2) is pleased announce that our 2024Exploration Program has officially started on its Clayton ValleyLithium Project. The 2024 Exploration Program will begin with aMagnetotelluric (MT) geophysics survey performed by the KLM Geoscience(“KLM”) as overseen by Grid’s Qualified Professional, Mr. StevenMcMillin P.G..
KLM Geoscience LLC ( https://www.klmgeoscience.com/ ) is an industry leading, Nevada-based geophysicalexploration company. Established in 2014, KLM specializes in awide array of geophysical methods. Using state of the artequipment, KLM’s services include induced polarization (IP),natural-source magnetotellurics (MT, AMT),controlled-source audio-frequency magnetotellurics (CSAMT), passiveseismic and magnetic potential field surveys. With a head officelocation in Nevada, this allows KLM to rapidly mobilize and beginwork at a moment's notice throughout the Western United States andbeyond. KLM has been a preferred vendor for Grid and its managementteam for many years.
Clayton Valley MT Site Design:
At the Grid Clayton Valley Lithium Project, MT Systemswill be deployed using 100m inline and 100m crossline electric fielddipoles, at a station spacing of 250m and line spacings of 500m. Atotal of 85 station sites are planned for the survey. A pair ofhorizontal (x,y) magnetic field sensors, oriented parallel to theelectric field dipoles will be deployed at every other site and MTsites will record overnight for a minimum of 14-16 hours. Thegeophysical survey plan is to deploy a minimum of five (5) MT sitesper day, using a six (6) person crew.
Grid’s Clayton Valley LithiumProject
The MT survey is a preferred method for identifyingstrata that may contain lithium brine (evidenced by low resistivity),structures that potentially focus brine, and basin floor geometry. The follow-on soil sampling program will identify where subsurfacebrine may have reached the surface. The combination of MT andgeochemistry will assist the Company in determining the next steps forits 2024 exploration including the planning of a first phase drillprogram.
Tim Fernback, Grid President & CEO comments “KLMis a company that our geological team has successfully used severaltimes in the past for lithium exploration work in Nevada. The MTsurvey has just begun, will be followed by a detailed soil samplingprogram by Rangefront Exploration under the guidance of ourQualified Professional. Together these results will allow us toselect drill targets for subsequent exploration programs later in theyear. As everyone is aware, Clayton Valley Nevada is home to NorthAmerica’s only lithium brine producer (Albemarle Corporation’sSilver Peak Mine) and our property is immediately to the west of theirlithium property and production facility.”
Qualified Person
Mr. Steven McMillin, P.G. is a Qualified Person asdefined by National Instrument 43-101 and has approved the technicalinformation contained within this news release.
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 2010 ppm, applying a1,000 ppm cut-off, and up to 5,610 ppm Lithium .
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 ). More recent results have shown higher grade lithium upto 8070 ppm on this property after initial drilling (Press release September 12, 2023 ). Our exploration results are on-trendwith 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.
Aboutthe British Columbia, Nickel Projects
The Mount SidneyWilliams Group consists of three claim blocks with a total area of10,569 hectares in the area surrounding Mount Sidney Williams, bothadjoining and near the Decar project of FPX Nickel Corp., located 100kilometres northwest of Fort St. James, B.C., in the Omineca miningdivision. Metallic mineralization includes nickel, cobalt, andchromium. At least some of the nickel mineralization occurs asawaruite. The Mitchell Range Group area claim consists of one claimblock covering 8,659 hectares with demonstrated metallicmineralization including nickel, cobalt, and chromium. Nickel cobaltmineralization has not been well explored, but the presence ofawaruite has been documented. The Company’s B.C. Nickel propertiesare held within Grid’s wholly-owned subsidiary, AC/DC Battery MetalsInc.
The Company has previously announced plans to spin out its wholly-owned subsidiary, AC/DC BatteryMetals Inc., finance it separately, and separately list it on the TSXVenture Exchange in 2024. This transaction once complete, willprovide a valuable share dividend to each Grid Shareholder of recordfor no additional cost.
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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