07:57:52 EDT Mon 20 May 2024
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or Name
USA
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Surge Battery Metals Inc
Symbol NILI
Shares Issued 161,073,658
Close 2024-04-30 C$ 0.38
Market Cap C$ 61,207,990
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Surge Battery hires Longyear for Nevada North drilling

2024-04-30 13:33 ET - News Release

Mr. Greg Reimer reports

SURGE BATTERY METALS ENGAGES BOART LONGYEAR FOR 2024 DRILL PROGRAM

Surge Battery Metals Inc. has contracted with Boart Longyear, a recognized leader in the mining industry, to provide drilling services for the upcoming 2024 drill program at the Nevada North lithium project (NNLP).

During the 2024 program, which is scheduled to begin by the end of May, 2024, Surge intends to drill eight reverse circulation holes to further expand and define the lateral and vertical extent of the NNLP deposit. The recently announced surface access agreement with the Salmon River Cattlemen's Association (SRCA) (news release of April 4, 2024) will facilitate testing the known geophysical footprint for lithium mineralization 1km to the west and up to 1.2 kilometres to the south of the 2024 maiden resource area.

Surge continues to execute its 2024 operating plan. In addition to the upcoming drill program, the company has provided its maiden mineral resource estimate, updated shareholders on the progress of metallurgical testing, continues to work with regulators on its exploration plan of operations permit application and working toward the completion of a preliminary economic assessment on the NNLP. Surge is fully financed to complete its 2024 programs.

Greg Reimer, chief executive officer and director, commented: "Boart Longyear is an industry leading provider of drilling services, and we look forward to working with them for the 2024 drill program. They have considerable experience in lithium claystone deposits, and we are particularly pleased that they will be using local crews and equipment. We look forward to continuing our exploration and development efforts in 2024 which are budgeted to be fully funded with cash on hand."

Qualified person as defined under National Instrument 43-101

Alan J. Morris, MSc, CPG of Spring Creek, Nev., 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.

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, United States. 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 United States, Surge Battery Metals 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, Nev., 73 kilometres 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 metres and a known width of up to 950 metres. 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 4.67 million tonnes of lithium carbonate equivalent (LCE) grading 2,839 parts per million Li at a 1,250 ppm (parts per million) cut-off.

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