VANCOUVER, BC, June 28, 2021 /PRNewswire/ -- Surge Battery
Minerals Inc. (the "Company" or "Surge") (TSXV: NILI), (OTC:
NILIF), (FRA: DJ5C) is pleased to report that it has finalized
plans to acquire 38 mineral claims, located in Township 44
North, Range 65 East, Sections 13, 14, 23, and 24. The claims are
valid and have been properly recorded with both the US Bureau of
Land Management and the Elko County,
Nevada Recorder. The Company refers to this series of
mineral claims as the Northern Nevada Lithium Project.
The terms of the mineral claim acquisition are as follows:
The Company agrees to pay Alan J.
Morris (the "Vendor") the following consideration for the 38
mineral claims in Nevada:
(a) making a cash payment to the Vendor in the amount of
USD$12,000 immediately upon signing
of the Agreement; and
(b) issuing to the Vendor 250,000 paid and non-assessable
common shares in the capital of Surge Battery Metals Inc. upon
acceptance of the Agreement by the TSX Venture Exchange.
All securities in connection with the transaction are subject to
a four month and a day hold period in accordance with applicable
securities laws.
The Northern Nevada Lithium Project is located in the Granite
Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km
north-northeast of Wells,
Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in
volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite
package. The project area was first identified in public
domain stream sediment geochemical data with follow up sediment
sampling and geologic
reconnaissance.
Momentum for this new program stems from Albemarle's recent
announcement that it will commence exploration of clay and evaluate
technology that could accelerate the viability of lithium
production from clay resources in the region surrounding its Silver
Peak lithium producing mine. As reported by Albemarle
on January 7, 2021
"Beginning in 2021, the company (Albemale) plans to
invest $30 million to $50 million to double the
current production at the Nevada site by 2025, making
full use of its brine water rights. Additionally, in 2021 the
company plans to commence exploration of clay and evaluate
technology that could accelerate the viability of lithium
production from clay resources in the region. As a
leader in the lithium industry, our priority is to optimize our
world-class resources and production. This includes Silver Peak, a
site uniquely positioned as the only lithium-producing resource in
the United States," said
Eric Norris, Albemarle President,
Lithium. "This investment in domestic capacity shows that we are
committed to looking at the many ways in which Silver Peak can
provide domestic support for the growing EV market."
Greg Reimer, President & CEO
comments "Nevada is well known for
its lithium projects and lithium potential in both brine and
clay-based mineral deposits. We are very excited to have
found some prospective ground in Nevada that shows some geological promise and
strong initial lithium readings. Nevada is an area of focus for several mineral
exploration companies including lithium producer Albemarle
Corporation (NYSE: ALB), and several prolific lithium explorers
like Pure Energy Minerals (TSXV: PE) and Cypress Development Corp.
(TSXV: CYP). Over time, the Company is planning an
additional staking program in the region to strategically add to
our land position. This new staking program will target known
sedimentary horizons with potential for lithium bearing clay
deposits."
Alan Morris, Lithium Claim Vendor
and Lithium Project QP comments "Stream gravel in the anomalous
samples consists of devitrified rhyolite tuff with occasional
clasts of pumice. In outcrop, air fall tuffs and tuffaceous
lake beds are capped by strongly welded ash flow tuffs in a typical
caldera related volcanic package. Regional mapping has
identified these rocks as being part of the Jarbidge Rhyolite is of
a similar age and composition as the McDermitt Tuff that hosts the
Thacker Pass deposit. While the McDermitt Caldera is
relatively intact structurally, basin and range faulting has offset
and obscured the likely extent of the Jarbidge Caldera
feature. The immediate project area has not been the
subject of modern detailed geologic mapping or age dating, so this
interpretation is based on older 1:250,000 scale mapping and may be
subject to revision as more data is collected."
Alan Morris, continues "The
anomalous tuffs are preserved within a graben feature between a
ridge of Paleozoic age sediments to the east with Paleozoic
sediments intruded by the Contact Granite to the west. Younger
felsic volcanic rocks related to the Bruneau-Jarbidge caldera fill the shallow valleys to
the east and north. The younger tuff has similar chemical
characteristics to the McDermitt
and Jarbidge tuffs and, based on
regional public-domain geochemistry, is permissive for lithium
mineralization."
The Serge Battery Metals Northern Nevada Lithium Project is a
very early stage project with only limited stream sediment and rock
chip sampling accomplished to date. Results include two
sediment samples with 1,980 and 1,540 ppm lithium. Limited
rock chip samples run up to 367 ppm Li but were not collected in
the anomalous drainages. Significant geologic and exploration
work remains ahead to identify the source beds of the anomalous
sediments. Plans are to initiate a grid soil survey and general
geologic mapping to identify the favorable horizons for drill
testing.
About Surge Battery Metals Inc.
surgebatterymetals.com
The Company is a Canadian-based mineral exploration company
which has been active in the resource sector in British Columbia, Canada and Nevada, USA.
On Behalf of the Board of Directors
"Greg Reimer"
Greg Reimer, President & CEO
604-428-5690
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 news release may contain
forward–looking statements which include, but are not limited to,
comments that involve future events and conditions, which are
subject to various risks and uncertainties. Except for statements
of historical facts, comments that address resource potential,
upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and
others are forward–looking. Forward–looking statements are not
guaranteeing future performance and actual results may vary
materially from those statements. General business conditions are
factors that could cause actual results to vary materially from
forward–looking statements.
Surge Battery Metals Inc.
1220 – 789 West Pender Street
Vancouver, BC, Canada V6C 1H2
604- 428-5690
www.surgebatterymetals.com
info@surgebatterymetals.com
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SOURCE Surge Battery Minerals Inc.