Global Battery Metals Announces Approval of First of Two Permits for the North West Leinster Lithium Exploration Drilling Program and Engagement of Drill Contractor
Vancouver, May 12, 2021 - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML") is pleased to report that it has received licencing approval from Coillte, the Irish state-owned commercial body which manages all forestry and upon whose lands the North West Leinster Lithium Project is located. The final and pending approval is from the Government of Ireland's Department of the Environment, Climate and Communications. The Company has no reason to believe that this second and final approval will not be granted in very short order.
GBML has also engaged Priority Drilling Limited ("Priority"), one of Ireland's foremost drilling contractors, to drill the six proposed holes. Priority is on standby for immediate mobilization pending the final government approval.
The first, the drill target at Aghavannagh, of six target areas identified to date on the property is focused in an area where spodumene pegmatite float was discovered during prospecting and mapping at the granite / metasediment contact. The best sample contained visible spodumene and returned a value of 8,280 ppm Li (1.78% Li2O). Follow up base of deep overburden sampling and ground magnetics has provided further focus to the target zone for the positioning of the six drill collars.
Highlights of the Leinster Lithium Project Exploration Drilling:
- Fully financed drill program expected to begin this month (May 2021)
- Approval for six drill holes
- Visible spodumene in several areas
- The Aghavannagh project lies 20km to the NE of the Avalonia Project, the JV between Ganfeng Lithium (55%) and ILC (45%).
"We are excited to report that shortly we will begin our drill program at the North West Leinster Lithium property in Ireland - this is a highly prospective project area which reported relatively higher grades in a regional government stream sediments survey than the nearby Ganfeng/ILC project located further to the south," stated Michael Murphy, President and CEO of GBML. "The fully financed drilling campaign will target the first prospective target at Aghavannagh."
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements and has been reviewed and approved by Vaughan Williams, P. Geo., principal geologist at Aurum Exploration Services Limited and Director of LRH Resources Ltd., and a "qualified person" within the meaning of National Instrument 43-101.
About Global Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange and Frankfurt Stock Exchange and quoted on the OTCQB. GBML currently has three projects: (1) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland, (2) a 100% interest in the Lithium King property in Utah, and (3) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter royalty.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to a drill program to be conducted on the Company's North-West Leinster lithium property in Ireland. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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