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Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML"), a critical mineral exploration company focused on growth-oriented lithium and other battery metal projects, announces that the drilling permit application for its Leinster Lithium Project (the "Property" or the "Project") has been submitted. Ten drill holes are planned to test to a depth of approximately 200m.
The submission outlines a staged diamond core drilling program and comes on the heels of the recently announced (see March 20, 2023 press release) potential discovery of up to six LCT (lithium-cesium-tantalum) pegmatite dikes extending across a prospective lithium trend at Prospecting Licence Area 1597 ("PLA 1597" or the "Knockeen Prospect").
Significant sampling and mapping across the Knockeen Prospect was conducted throughout the second half of 2022, with the most recent assay results of 66 rock samples released by ALS Laboratories returning Li2O% lithium contents ranging up to 3.75 % Li2O (see January 18, 2023 press release).
In conjunction with this work, a detailed deep overburden (base of till) program was recently completed for a total of 373 samples covering an area of 600m x 450m over the location of an extensive spodumene pegmatite float boulder train and an associated historically reported trenched bedrock occurrence. The interpreted geochemical results (see Figure 1) indicate the potential discovery of up to six LCT (lithium-cesium-tantalum) pegmatite dikes across the Knockeen Prospect shallow depths of between 1m - 7m below ground surface.
The area of the exploration is centred on a locality where a forty-year-old historical company report from Irish Base Metals described a trench excavated at Knockeen Townland which uncovered in bedrock, a 1.8m thick spodumene-bearing pegmatite vein.
Competent Person
All scientific and technical information in this announcement has been prepared under the supervision of and reviewed and approved by EuroGeol Vaughan Williams M.Sc. P.Geo. (Principal of Aurum Exploration Services currently provides exploration services to GBML and to LRH), a "qualified person" within the meaning of National Instrument 43-101.Vaughan Williams is also company secretary of LRH.
Please see the Company's Leinster Project Overview for additional program details, in addition to the latest version of the Company's Investor Presentation available for download from the GBML website (www.gbml.ca).
Figure 1: Deep Overburden sampling grid showing anomalous lithium (ppm) in linear trends across the Knockeen Prospect.
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About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in four battery metal 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; (3) an option to acquire up to a 100% interest in the La Poile lithium project in Newfoundland; and (4) 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. GBML's common shares are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
W: www.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 news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans at the Leinster Lithium Property. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual 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 and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are 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. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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Figures 1 Outcrop at the Discovery Prospect, Yallalong Project
Figure 1. HMW Project looking north
Table 1 – Summary of 2023 McDermitt MRE1 at the reporting cut-off of 1,000 ppm. Note: totals may vary due to rounding