NIKLF - Grid Battery Metals Completes Phase 2 of its 2024 Clayton Valley Project 2024 Exploration Plan
(TheNewswire)
Coquitlam, BC – TheNewswire - June 20, 2024 - Grid Battery MetalsInc. (the “Company” or“Grid”) ( TSXV: CELL,OTCQB: EVKRF FRA: NMK2 ) is pleased to announce the conclusion of asecond phase of soil samples and the construction of a geologic modelincorporating mapped geology, magnetotelluric (MT) geophysics, andsoil geochemistry. Grid’s exploration team has determined that amultilayered approach to drill targets would improve the chances ofintercepting lithium bearing brines.
The initial soil sample program was completed in March2024 and consisted of 166 samples on a 250 x 250 meter grid. Theresults of this program show a sizeable cluster of +300 ppm samples atthe south end of the claims, and a generally northeast trendingcluster of 100-300 ppm samples that extend to the north-centralportion of the claims (Figure 1).
A second infill phase was completed in early May 2024over a 125 x 125 meter grid (Figure 2) and consists of 286 samples. The objective of the infill sampling is to refine grade breaksidentified in phase 1 to better focus drill targeting. Assay resultsare pending.
Recent Infill Soil Samples Taken(Clayton Valley Lithium Project)
Figure 1: Clayton Valley Phase 1 soil samplingresults.
Figure 2: Clayton Valley infill Phase 2 soil samples.
To better understand the underlying structure of theClayton Valley claims, 2024 MT data, and publicly available geologicmaps and DEM data were incorporated into a Leapfrog model by Mr. BenHinkley of Rangefront Mining Services. The geologic mapping used isfrom a 2008 summary report of a geothermal exploration program inClayton Valley in 2007 (Hulen, 2008). Both mapped and inferredfaults were used to create fault blocks. Figure 3 shows the geologicmap used, and the Grid land shape both draped on a topographic DEM.
Figure 3: A Leapfrog model with faults and faultblocks. The darked image to the right of the topographic DEM imageincludes the Grid land shape.
Figure 4: Oblique view of the Clayton Valley geologicmodel without claims on the left and with claims on the right.
Apparent resistivities and XYZ coordinates from each MT(1d and 2d) line were imported into Leapfrog as a numeric model, andisosurfaces (3d contours) were generated for various resistivities. 2D resistivities of <1 and 1-5 show the tightest structural focusto the northeast suggesting the most conductive brine is focused alongthe circled northeast fault (Figure 5).
Figure 5: 2D resistivity isosurfaces for <1 ohm-m onthe left and 1-5 ohm-m on the right
All soil assays will be contoured as a horizontalsurface and will then be draped on topography in Leapfrog. Theexpectation is that the soil contours and MT contours will enable thebest placement of drillholes that are driven by structure, geophysics,and geochemistry.
Grid’s Clayton Valley LithiumProject (RC Drilling Locations Identified)
Tim Fernback, Grid President & CEO comments“Recently, Century Lithium ( TSXV: LCE, OTCQB: CYDVF ) our neighbor to theeast) has just released their Positive FeasibilityStudy by T. Lane et al. (2024). Measured and Indicated resources totaling 1,207.33 milliontonnes (Mt) at an average grade of 957 parts per million (ppm) lithium(Li) containing 1.155 Mt of Li or 6.148 Mt of lithium carbonateequivalent (LCE), a 40-year mine life and an after-tax NPV 8 of $3.01 billion. Additional information is in Century Lithium’s NI-43-101by Fayram et al. (2020) 43-101 Report . Clayton Valley Nevada is home toNorth America’s only lithium brine producer (AlbemarleCorporation’s ( NYSE:ALB ) Silver Peak Mine) and our property isimmediately to the west of their lithium property and productionfacility. We are very excited about our work completed to date andlook forward to our assay results so we can continue to generateshareholder value in this prolific lithium producing region ofNevada.”
It should be noted that results fromany adjacent property(s) are not an indication of what may be found onthe Company’s property(s).
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. 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 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.
References
Hulen, Jeffrey B., 2008, Geology and ConceptualModeling of the Silver Peak Geothermal Prospect, Esmeralda County,Nevada, Technical Report for Sierra Geothermal Power Corporation, http://gdr.openei.org/files/268/Silver%20Peak%20Geology%20Map%20and%20Model%20(Hulen)%20Jul%202008.pdf .
Prefeasibility Study Clayton Valley Lithium Project,Esmerelda County, Nevada, August 5, 2020, Amended March 15, 2021, ToddFayram MMSA-QP (CMS), Terre A. Lane MMSA-QP (GRE), J.J. Brown, SME-RM(GRE), NI43-101 TechnicalReport for Century Lithium
Century Lithium Announces Positive Feasibility Studyfor the Clayton Valley Lithium Project, Nevada, April 29, 2024, TerreA Lane MMSA-QP (GRE), Hamid Samari, Principal Geologist, Todd-Fayram,Sr. V.P Metallurgy-Century Lithium, Alan Drake, Process Engineering,Haiming (Peter)Yuan Principal GeotechnicalEngineer, Paul Blauch, Technical Director, Farza Kossari, CostEstimating Engineer, CenturyLithium Press Release.
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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