GRID:CC - Grid Battery Metals Exploration Team On Site at the Clayton Valley Nevada Lithium Project
(TheNewswire)
Coquitlam, BC – TheNewswire - February 2, 2024 - Grid Battery MetalsInc. (the “Company” or “GridBattery”) ( TSXV:CELL ) ( OTC:EVKRF ) ( FRA:NMK2 ) announces that its exploration teamhas just visited the Clayton Valley Lithium Property in EsmeraldaCounty, Nevada. This lithium project islocated in Clayton Valley, Nevada adjacent to the village of SilverPeak, Nevada, about 48 km (29 miles) southwest of Tonopah, Nevada, and273 kilometers (170 miles) southeast of Reno,Nevada.
At the Clayton Valley Lithium Project, the Companycontracted the services of Rangefront Geological (“Rangefront”) to perform an updated and revised NI #43-101Technical Report prior to the 2024 mineral exploration season. TheCompany proposes to use the results of this Technical Report and priorsoil samples, geophysical surveys and drilling on the property, tohelp identify structure and target areas favorable to lithiumaccumulation and determine next steps for its overall explorationplan. This may include, but is not limited to, a subsequent drillingprogram on the property. Mr. Steven McMillinP.G., Qualified Person and Field Operations Manager at Rangefront hasrecently visited the property.
Tim Fernback, Grid President & CEO comments“ Clayton Valley holds the only producinglithium brine system in the United States and also holds amazingpotential for lithium clay-hosted deposits . Our lithium claims in Clayton Valley arebordering the Silver Peak Lithium Project of Albemarle Corporation( NYSE: ALB ), home to the only producing lithium mine in North America. Another neighbour of ours to the east, Century Lithium Corp.( TSXV: LCE OTCQX:CYDVF ), has issued a pre-feasibility study referencing a 26% after-tax internal rate of return and anNPV 8 of $1.03billion. It will be great to realize thepotential of this area of Nevada for lithium-hosted brine andclaystones for our shareholders.”
It should be noted that results fromany adjacent property(s) are not an indication of what may be found onthe Texas Spring property.
Clayton Valley Property Images andMap
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 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. A Phase 1 exploration program atthe Texas SpringsProperty (Fall 2023) yielded r esults with average Lithium Grades of 2010 ppm, applying a1,000 ppm cut-off, and up to 5,610 ppmLithium .
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 725 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 ). Our exploration results are on-trendwith these results.
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. Metallicmineralization includes nickel, cobalt, and chromium. At least some ofthe nickel mineralization occurs as awaruite. The Mitchell RangeGroup area claim consists of one claim block covering 8,659 hectareswith demonstrated metallic mineralization including nickel, cobalt,and chromium. Nickel cobalt mineralization has not been well explored,but the 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. It should benoted that results from any adjacent property(s) are not an indicationof what may be found on the Company’s property(s).
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