(TheNewswire)
Coquitlam, BC / TheNewswire / March 13, 2024- Grid Battery MetalsInc. (the “Company” or “Grid”) (TSXV:CELL, OTCQB: EVKRF FRA: NMK2) is pleased announce that it willimmediately begin the 2024 Exploration Program on its Clayton ValleyLithium Project. The planned exploration program is identified inthe NI 43-101 Technical Report completed by Mr. Steven McMillin P.G.filed on SEDAR+ ( www.sedarplus.ca ) and viewedon the Company’s website at Clayton Valley TechnicalReport .
Clayton Valley Lithium Project
Furthermore, the Company has selected RangefrontGeological (“Rangefront”) to perform both adetailed soil sampling on a 250 m X 250 m spacing and to oversee aCSAMT geophysical survey performed by KLM Geoscience. The CSAMTsurvey is a preferred method for identifying strata that may containlithium brine (evidenced by low resistivity), and structures thatpotentially focus brine. The soil sampling will identify wheresubsurface brine may have reached the surface. The combination ofCSAMT and geochemistry will assist the Company in determining the nextsteps for its 2024 exploration including the planning of a first phasedrill program.
For over a decade, Rangefront has combined in-depthexpertise with cutting-edge technology to provide mining consultingservices, contract labor, field crew services, and vehicular support to the mining industry. With servicesavailable across North America, Rangefront will work closely with Gridto provide high-quality soil sampling and mineral exploration programtailored to the Clayton Valley Lithium project.
Tim Fernback, Grid President & CEO comments“Rangefront is a company that our geological team has successfullyused several times in the past for lithium exploration work in Nevadafor both Grid and other companies that we have managed in the past,including work done by Surge Battery Metals. This soil samplingprogram will take place immediately, and the CSAMT survey will beginon March 18, 2024 by experienced operator KLM Geoscience. This soilsampling together with planned geophysics and geochemistry on ourNevada lithium property, will allow us to select drill targets forsubsequent exploration programs later in the year. Here, we plan toselect four drill locations to reach depths of 1000 ft each. Afterthis is complete, Grid plans to create a 3D model and provide aninterpretation of the underground area for its shareholders.”
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.
About KLM Geoscience LLC
KLM Geoscience is an industry leading, Nevada-basedgeophysical exploration company, established in 2014. KLMspecializes in a wide array of geophysical methods. Using stateof the art equipment, KLM’s services include induced polarization(IP), natural-source magnetotellurics (MT, AMT),controlled-source audio-frequency magnetotellurics (CSAMT), passiveseismic and magnetic potential field surveys. KLM prides itself onits safety procedures and logistical planning, which allows us toefficiently survey in difficult and technical terrain. Its head officelocation in Nevada allows KLM to rapidly mobilize and begin work at amoment's notice throughout the Western United States andbeyond.
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 r esults with average lithium grades of 2010ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppmLithium .
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 haveshown higher grade lithium up to 8070 ppm on this property afterinitial drilling (Press release September 12,2023 ). Ourexploration results are on-trend with 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.
Aboutthe British Columbia, Nickel Projects
The Mount SidneyWilliams Group consists of three claim blocks with a total area of10,569 hectares in the area surrounding Mount Sidney Williams, bothadjoining and near the Decar project of FPX Nickel Corp., located 100kilometres northwest of Fort St. James, B.C., in the Omineca miningdivision. Metallic mineralization includes nickel, cobalt, andchromium. At least some of the nickel mineralization occurs asawaruite. The Mitchell Range Group area claim consists of one claimblock covering 8,659 hectares with demonstrated metallicmineralization including nickel, cobalt, and chromium. Nickel cobaltmineralization has not been well explored, but the presence ofawaruite has been documented. The Company’s B.C. Nickel propertiesare held within Grid’s wholly-owned subsidiary, AC/DC Battery MetalsInc.
The Company has previouslyannounced plans to spin out itswholly-owned subsidiary, AC/DC Battery Metals Inc., finance itseparately, and separately list it on the TSX Venture Exchange in2024. This transaction once complete, will provide a valuable sharedividend to each Grid Shareholder of record for no additionalcost.
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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