Surge Announces Agreement with Private Surface Land Holders and Outlines 2024 Drill Plan
West Vancouver, April 4, 2024 - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce it has concluded an entry and exploration agreement with the Salmon River Cattlemen's Association (SRCA).
The agreement with the SRCA extends permission for Surge to commence drilling and other surface use on the parcels of SRCA private ground where Surge already holds fractional (25%) ownership of the sub-surface mineral rights (see news release of December 7, 2023).
Surge intends to drill four reverse circulation holes on the SRCA parcels to test extensions of high-grade lithium mineralization outlined in previous Surge drilling to the north of the private parcel and high grade soil geochemistry (>1,000 ppm Li).
Surge also intends to drill another four holes on claims held by Surge as well as claims with its joint venture partner M3 Metals Corp. ("M3"). The drill sites shown in the figure below are tentative with the actual locations to be determined by ground conditions, avoidance of sensitive areas on the private parcels and permitting approval by the Bureau of Land Management on the M3 and Surge claims.
Drilling is scheduled to start by the end of May, 2024.
2024 drilling at the NNLP will test for lithium mineralization 1km to the west and up to a 1.2km to the south of the 2024 maiden resource area (see news release of February 22, 2024). Drilling is designed to expand and better define the footprint of lithium clay mineralization at the NNLP prior to infill drilling in 2025.
Mr. Greg Reimer, Chief Executive Officer, and Director commented, "We are happy to have come to an agreement with the Salmon River Cattleman's Association and look forward to actively working together as we advance the NNLP project. Our 2024 program will be bold and will take big step outs to the west and south, growing the mineralization footprint as much as possible prior to our 2025 exploration program."
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.
Figure 1
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About Surge Battery Metals Inc.
Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA. Lithium is a crucial element for powering the electric vehicles of tomorrow. With a primary listing on the TSX Venture Exchange in Canada and the OTCQX Market in the US, Surge Battery Metals Inc. is strategically positioned as a key player in advancing lithium exploration, contributing significantly to the sustainable future of the electric vehicle industry.
About the Nevada North Lithium Project
The Company's Nevada North Lithium Project, located in the Granite Range southeast of Jackpot, Nevada 73 km north-northeast of Wells, Elko County, Nevada. The first two rounds of drilling, completed in 2022 and 2023, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 3,500 meters and a known width of up to 950 meters. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 4.67Mt of Lithium Carbonate Equivalent (LCE) grading 2,839 ppm Li at a 1,250 ppm cutoff.
On behalf of the Board of Directors
"Greg Reimer"
Greg Reimer,
President & CEO
Contact Information
Email : info@surgebatterymetals.com
Phone : 604-662-8184
Website: surgebatterymetals.com
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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.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium and nickel, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its Nevada properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its Nevada properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
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