GRID:CC - Grid Battery Metals Files NI 43-101 Report on Texas Spring Lithium Project in Nevada
(TheNewswire)
Coquitlam, BC – TheNewswire - January 26, 2024- Grid Battery MetalsInc. (the “Company” or “GridBattery”) ( TSXV: CELL,OTCQB: EVKRF FRA: NMK2 ) ispleased to announce that the Technical Report for the Texas SpringLithium Project, dated January 25, 2024, prepared by Mr. Seth Cude,P.G. of Rangefront Geological, has been filed on SEDAR+ (www.sedarplus.ca) and can be viewed onthe Company’s website at Texas Springs 43-101Report .
Our team recently completed the Phase 1 exploration ofthe Texas SpringsProperty in fall 2023 which included both aCSAMT geophysical survey and a detailed soilsampling on a 50 m X 100 m spacing. Results were impressive andon-trend with the results found at the Surge Battery Metals Inc. (“Surge”) ( TSXV:NILI, OTC: NILIF ) NevadaNorth Lithium Property that adjoins the Texas Spring Property to thenorth. Our Phase 1 Exploration results included average Lithium Grades of 2010 ppm, applying a1,000 ppm cut-off, and up to an impressive5,610 ppm Lithium .
As mentioned previously, the Texas Springs Lithium Property adjoins the southern border of the Nevada North LithiumProject - owned by SurgeBattery Metals Inc. 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 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.
Furthermore in May 2023, Nevadawas ranked again as the #1 Mining Jurisdiction in theworld by the Fraser Institute, a position ithas held several times in the recent past.
Mr. Tim Fernback, Grid President & CEO comments“We are happy to report the filing of the NI 43-101 Technical Reporton our Texas Spring Lithium Project. The recommendation for futureexploration includes a multi-phase drilling program as a logical nextstep here on the property. The timing is goodfor the Company, and with approximately CAD$7.2 million inour treasury, we are well-positioned and fully funded for our 2024exploration 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.
The Company also announces that further to theCompany’s news release dated December 13, 2023, the Company hasdecided not to go forward with the Media Services contract with Omni8Communications Inc.
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 Grid Nickel Project consists of three claim blockswith a total area of 5,000 hectares in the area surrounding MountSidney Williams, near the Decar project of FPX Nickel Corp., located100 kilometres northwest of Fort St. James, B.C., in the Ominecamining division. Metallic mineralization includes nickel, cobalt, andchromium, whereby nickel has been recorded in the Fe-Ni alloy awaruiteas well as nickel sulphides The Grid NickelProject are partially underlain by rocks of the Trembleur UltramaficUnit, which consist of variably serpentinized harzburgite, dunite,orthopyroxenite, and locally carbonate-talc altered rocks andlistwanite .
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, 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.
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