GRID:CC - Grid Battery Metals Announces the Geophysics Results from Phase 1 of its Exploration Plan at the Texas Springs Nevada Lithium Project
(TheNewswire)
Coquitlam, BC – TheNewswire - December 8, 2023- Grid Battery MetalsInc. (the “Company” or “GridBattery”) ( TSXV:CELL ) ( OTC:EVKRF ) ( FRA:NMK2 ) announces the completed geophysicsresults from the first phase of its fall exploration program at itsTexas Springs Property near Elko Nevada.
Texas Spring Nevada Lithium Property
Phase 1 Exploration ProgramRecap
At the Texas Springs Lithium Project, the Companycontracted the services of Rangefront Geological(“Rangefront”) to perform both a detailedsoil sampling on a 50 m X 100 m spacing and to oversee a CSAMTgeophysical survey performed by KLM Geoscience. The CSAMT survey isa method for obtaining information about subsurface resistivity andgeology, which can help predict geological structure and interfaces ofpotentially lithium bearing geologic units, while the detailed surfacesampling will allow us to determine lithium values at surface.
Together these geological techniques should helppredict geological structure and possible locations of historiclithium accumulation. This is part of a methodical and systematicapproach to high quality mineral exploration for this highly soughtafter metal in Nevada and will assist the Company in determining nextsteps for the overall exploration plan, including but not limited to asubsequent drilling program.
Soil Sample Grid Completed
CSAMT Geophysical Survey Results
While the results from the associated soil samplingprogram are expected next week once our geological team completestheir review of the data, the results from the CSAMT geophysicalsurvey are as follows:
Mr. Seth Cude, P.G., Grid’s Qualified Person commentson the results of the program “The CSAMT survey shows several nearhorizontal to gently dipping subsurface horizons which may have servedas paleo accumulation basins, collecting lithium bearing clays. Tiengthese subsurface structures to the surface soil analysis will provideexcellent drilling targets”.
Tim Fernback, Grid President & CEO comments“Rangefront is a company that our geological team members have usedseveral times in the past for lithium exploration work in Nevada forboth Grid and other companies that we have managed in the past,including Surge Battery Metals, and Fuse Battery Metals. Geophysicalsurveys and soil sampling is part of a methodical and systematicapproach to high quality mineral exploration for claystone lithiumdeposits in Nevada and will allow us to select drill targets forsubsequent exploration programs in the future. “
Texas Spring Property Location
Of note, the Texas Springs Lithium Property adjoins thesouthern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. (“Surge”) ( TSXV: NILI, OTC: NILIF ). 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. On September 12, 2023,Surge announced some exciting results of its most recent drillingprogram at this property, and recorded its highest grades to date,with up to 8070 ppm Lithium on the Northern Nevada Lithium project. These results were followed up on December 5, 2023 with a subsequent drill program yielding core drillingintercepts with assays over 7,630 ppm and multiple horizons upondeeper drilling performed.
Tim Fernback, Grid President & CEO comments “Nowthat the CSAMT geophysical survey is complete at Texas Springs, andonce we analyze the results from the assay lab on our detailed soilsampling in the area, we will gather as a group to interpret thegeological data and plan our next steps at Texas Springs for theupcoming 2024 exploration season.”
About Rangefront Geological
Elko Nevada-based Rangefront Geological has combinedin-depth expertise with cutting-edge technology to provide miningconsulting services, contract labor, field crew services, and vehicular support to the mining industry. With servicesavailable across North America, Rangefront works closely with itsclients to provide high-quality mineral exploration services.
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 have shown higher grade lithium upto 8070 ppm on this property after initial 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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