NIKLF - Grid Battery Metals Exploration Team Prepares for its Third Phase of the 2024 Exploration Plan on the Clayton Valley Lithium Project
(TheNewswire)
Coquitlam, BC – TheNewswire - July 8, 2024 - Grid Battery MetalsInc. (the “Company” or “Grid”) (TSXV:CELL, OTCQB: EVKRF FRA: NMK2) announces its results from its secondphase of exploration and its plans for the third phase of itsspring/summer exploration program at its Clayton Valley LithiumProperty near Silver Peak, Nevada, which includes a four-hole drillprogram planned for September 2024.
At the Clayton Valley Lithium Project, t he infill soil sampling exploration work performed byRangefront Geological (“Rangefront”) and supervised by RangefrontGeologist / Company Qualified Person Steven McMillin P.G., has nowbeen completed and results have come back from the assay lab.
Infill Soil Samples Results (ClaytonValley Lithium Project)
Mr. Tim Fernback, Grid President & CEO states“These results, together with the Company’s recently completedmagnetotelluric (MT) geophysics survey, are geological techniques thatshould help predict geological structure and possible locations forlithium accumulation within claystone and brine at depth.”
Proposed Drill Locations (ClaytonValley Lithium Project)
MT Geophysics Results (Clayton ValleyLithium Project) – 500m MT depth slice
Mr. Steven McMillin P.G. comments “A major northeastfault interpreted from gravity bisects the claim block and is bestapparent in the 500m slice even though the slice is below the basinfloor. This suggests that the fault may be a fluid conduit at depth. Three drill holes in the south were selected by our team based onthe combination of geophysics data and soil sample data that point topossible lithium accumulation within claystone and brine. The holelocated at the north of the property has no significant soil signatureas it is buried by alluvium, but it has a low-resistivity anomaly witha significant depth extent. A claystone dominant host for lithium ishypothesized at this location.
Tim Fernback, Grid President & CEO comments “Nowthat the soil sampling, geophysical survey programs and 3D Leapfrogmodel of the subsurface are now complete at Clayton Valley, we haveidentified these four drilling targets to test for the depth andextent of lithium bearing brine and claystone. We are very excitedabout the results to date on the property and look forward to ourdrilling program later this year.”
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.
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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