02:03:59 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Surge Battery Metals Inc
Symbol NILI
Shares Issued 160,000,000
Close 2024-01-15 C$ 0.59
Market Cap C$ 94,400,000
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Surge Battery hires Davis for NNLP resource estimate

2024-01-16 12:52 ET - News Release

Mr. Greg Reimer reports

SURGE RETAINS DR. BRUCE DAVIS FOR MINERAL RESOURCE ESTIMATE

Surge Battery Metals Inc. has retained Dr. Bruce Davis to provide professional services to calculate the maiden mineral resource estimate (MRE) for Surge's high-grade lithium clay discovery at the Nevada North lithium project (NNLP).

Dr. Davis is a Geostatistician with over 40 years of experience estimating mineral resources and conducting mine feasibility studies. He has worked on mineral resource estimates for over 400 projects and directed various mining geostatistical studies such as uncertainty assessments and has also applied geostatistical methods to solve problems for base metal, energy mineral, and precious metal deposits. Dr. Davis holds a Ph.D. in Statistics with an emphasis in Geostatistics from the University of Wyoming and is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM).

Surge will provide data collected from reverse circulation, sonic, and diamond drilling and expects to produce a maiden Mineral Resource Estimate in Q1 of 2024. Each drilling program has been executed under a Notice of Intent (NOI) permit with a maximum disturbance of 5 acres. With the expansion of our drill permitting once our Exploration Plan of Operations is permit is approved, we confidently anticipate the resource to grow with additional drilling.

Mr. Greg Reimer, Chief Executive Officer, and Director commented, "We are very fortunate to have such a qualified person as Dr. Davis to calculate our maiden Mineral Resource Estimate and are looking forward to working with him. To go from soil anomaly in 2022 to a maiden Mineral Resource Estimate in Q1 2024 is an incredible achievement, and we look forward to sharing the results with our shareholders."

Qualified Person as Defined Under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.

About Surge Battery Metals Inc.

The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange in Canada and the OTCQX Market in the US. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About the Nevada North Lithium Project

The Company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada. The first round of drilling, completed in October 2022, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of almost 1,620 meters. Widths of the mineralized horizons are at least 400 meters, supported by highly anomalous soil values indicating potential for the clay horizons to be much greater in extent. The potential for a significant lithium deposit can be illustrated by the average lithium content within all near surface clay zones intersected in 2022 drilling, applying a 1000 ppm cut-off, was 3254 ppm.

Initial assay results from the first hole of the 2023 season (NN2301) had a high of 8070 ppm lithium with an average of 4,067 ppm lithium at a 1,000-ppm cut-off (See news release September 12, 2023). The 2023 drill program expanded the known lithium-rich clay from the current 1,620 meters strike length to more than 3,500 meters and the known width of the mineralization to 950 meters from the previously drill-indicated 400 meters. The 2023 drill program is now completed with all assays received. We will use the winter season to produce a maiden Mineral Resource Estimate, complete additional metallurgical studies, and prepare for additional exploration of the property in the spring.

We seek Safe Harbor.

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