GRID:CC - Grid Battery Metals Announces Soil Sample Results at the Texas Springs Nevada Lithium Project Showing Average Lithium Grades of 2010 ppm
(TheNewswire)
Coquitlam, BC – TheNewswire - December 14, 2023 - Grid Battery MetalsInc. (the “Company” or “GridBattery”) ( TSXV:CELL ) , ( OTC:EVKRF ) , ( FRA:NMK2 ) announcesthe completed soil sample results from the first phase of its fallexploration program at its Texas Springs Property near Elko Nevada.
Background: Grid’s Texas SpringNevada Lithium Property
The TexasSprings Lithium Property adjoins the southernborder of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. (“Surge”) ( TSXV:NILI, OTC: NILIF ). Surge's first round ofdrilling identified strongly mineralized lithium bearing clays. Theaverage lithium content within all near surface clay zones intersectedin the 2022 drilling program, applying a 1000 ppm cut-off, was 3254ppm. OnSeptember 12, 2023, Surge announced some exciting results of its mostrecent drilling program at this property, and recorded its highestgrades to date, with up to 8070 ppm Lithium on the Northern NevadaLithium project. These results were followedup on December 5,2023 with a subsequent drill programyielding core drilling intercepts with assays over 7,630 ppm andmultiple horizons upon deeper drilling performed.
Texas Spring Lithium Property SoilSample Grid
Tim Fernback, Grid President & CEO comments “Nowthat the first phase of the exploration program is complete, we planto gather as a group to interpret the geological data and plan ournext steps at Texas Springs for the upcoming 2024 exploration season. We have some encouraging results to discuss, which is great news forour shareholders.”
Mr. Seth Cude, P.G., Grid’s Qualified Person commentson the results of the program “The soil sampling shows zones ofstrong lithium concentrations in the northwestern region of the TexasSpring Lithium property which are on trend with strong soil resultsfrom Surge Battery Metal’s Nevada North Lithium project. Inaddition, the CSAMT data shows the Texas Spring Property exhibitsseveral near horizontal to gently dipping subsurface horizons whichmay have served as paleo accumulation basins,collecting lithium bearing clays. This information, combined withthe soil assay, will help us propose excellent future drillingtargets.”
Soil Sample Summary Results (Phase 1Exploration Plan)
Highlights:
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High grade zone in the north of 1000ppm at lengths of850 m x 475 m and a second high grade zone to thesouth of with lengths of 200 x 175 m
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Clear high grade lithium zone in the northern portionof the project area is on trend with the high-grade soil samplescollected in the Surge property to the north
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There are 6 soil samples with Li grades over 3,000ppm.
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A total of 810 samples were collected with valuesranging from 10ppm to 5610 ppm
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40 samples had grades = 1000 ppm
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Using a 1000 ppm cutoff there was an average of 2010ppm
QA/QC
Duplicate samples were taken approximately 1 in every20 and showed excellent correlation with the originals with anr 2 value of 0.9963 and a difference in average values of 2%. Standardswere also inserted approximately 1 in 20 and showed an averagevariation of 7% with a range of 40ppm.
Sampling Protocols
GPS units with the sample locations loaded were used bythe field crew to locate the sample location, and tracks GPS are takento locate the actual location of the soil sample. Samples were taken from the b horizon and composited andsieved over a depth of 10 to 12 inches, which is standard samplingmethodology for soils. Samples were transported and secured byRangefront from the site and then were transported directly to ALSlabs in Elko by Rangefront. The samples were dried and sieved to 180microns (80 mesh) and assayed using 36 element ME-ICP41 aqua regiaanalysis.
Tim Fernback, Grid President & CEO comments“Completing both a detailed geophysical survey and soil samplingprogram is part of a methodical and systematic approach to highquality mineral exploration for claystone lithium deposits in Nevadaand will allow us to select drill targets for subsequent explorationprograms in the future. “
Qualified Person
Mr. Seth Cude, P.G. is a Qualified Person as defined byNational Instrument 43-101 and has approved the technical informationcontained within this news release.
Grid Battery Metals Inc. is a Canadian basedexploration company whose primary listing is on the TSX VentureExchange. The Company’s maintains a focus on exploration for highvalue battery metals required for the electric vehicle (EV) market. www.gridbatterymetals.com .
About Texas Springs Property
The Company owns a 100% interest in the TexasSpring Property which consists of mineral lode claims located inElko County, Nevada. The Property is in the Granite Range southeastof Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. Thetarget is a lithium clay deposit in volcanic tuff and tuffaceoussediments of the Humbolt Formation.
The Texas Spring property adjoins the southern borderof the Nevada North Lithium Project - owned by Surge Battery MetalsInc. (“Surge”) ( TSXV:NILI, OTC: NILIF ) and comprised of 303 mineralclaims. Surge's first round of drilling identified stronglymineralized lithium bearing clays. The average lithium content withinall near surface clay zones intersected in the 2022 drilling program,applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29,2023 ). More recent results haveshown higher grade lithium up to 8070 ppm on this property afterinitial drilling (Press release September 12,2023 ).
About Clayton Valley LithiumProject
The Company owns a 100% interest in 113 lithium lodeand placer claims covering over 640 hectares in Clayton Valley.Clayton Valley is a down-dropped closed basin formed by the Mioceneage Great Basin extension and is still active due to movement alongthe Walker Lane structural zone. As a result, the basin haspreserved multiple layers of lithium bearing volcanic ash, resultingfrom multiple eruptive events over the past 6 million years includingeruptions from the 700,000-year-old Long Valley Caldera system andrelated events. These ash layers are thought to contribute to thelithium brines extracted by Albemarle and are also likely involved inthe formation of the exposed lithium rich clay deposits on the eastside of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claimscovering approximately 635 hectares of alluvial sediments and clayslocated 122 km northeast of Tonopah, Nevada.
About the British Columbia, NickelProjects
The Mount Sidney Williams Group consists of three claimblocks with a total area of 10,569 hectares in the area surroundingMount Sidney Williams, both adjoining and near the Decar project ofFPX Nickel Corp., located 100 kilometres northwest of Fort St. James,B.C., in the Omineca mining division. Metallic mineralization includesnickel, cobalt, and chromium. At least some of the nickelmineralization occurs as awaruite. The Mitchell Range Group areaclaim consists of one claim block covering 8,659 hectares withdemonstrated metallic mineralization including nickel, cobalt, andchromium. Nickel cobalt mineralization has not been well explored, butthe presence of awaruite has been documented.
On Behalf of the Board of Directors
“Tim Fernback”
Tim Fernback, President & CEO
Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 4 28-5690
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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