Grid Battery Metals Exploration Team Completes Phase 1 of its 2024 Exploration Plan on the Clayton Valley Lithium Project

Grid Battery Metals Exploration Team Completes Phase 1 of its 2024 Exploration Plan on the Clayton Valley Lithium Project

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - May 30, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) announces that it has completed the first phase of its springsummer exploration program at its Clayton Valley Lithium Property near Silver Peak, Nevada, which includes a detailed infill soil sampling program and a previously announced MT geophysical survey.

At the Clayton Valley Lithium Project, the Company contracted the services of Rangefront Geological ("Rangefront") to perform both a detailed infill soil sampling of the southern section of the claim block and to oversee a Magnetotelluric (" MT") geophysical survey to obtain information about subsurface resistivity and geology performed by KLM Geoscience LLC ("KLM") over the entire property.  The infill soil sampling exploration work has now been completed and samples have been transported to the assay lab pending results. Together these geological techniques should help predict geological structure and possible locations for lithium accumulation.  This is part of a methodical and systematic approach to high quality mineral exploration for this highly sought after metal in Nevada and will assist the Company in determining next steps for the overall exploration plan, including but not limited to a subsequent drilling program.

Recent Infill Soil Samples Taken (Clayton Valley Lithium Project)

The MT geophysical survey was performed by the KLM and was overseen by Grid's Qualified Professional, Mr. Steven McMillin P.G.

MT survey profiles


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Mr. Steven McMillin P.G. comments "The MT survey was completed over eleven profiles. The results were plotted in horizontal slices at 250m, 500m and 750m with bedrock depths that range from 216 to 406 m within the Grid claims as announced on May 2, 2024 .   A major northeast fault interpreted from gravity bisects the claim block and is best apparent in the 500m slice even though the slice is below the basin floor. This suggests that the fault may be a fluid conduit at depth. The fault is less apparent in the strong near-surface anomaly in the 250m slice that may reflect a spread of fluids within the basin sediments away from the fault. The 750m depth slice is likely below the basin floor and conductivity is mostly focused near the basin bounding faults".

Tim Fernback, Grid President & CEO comments "Now that the infill detailed soil sampling and MT geophysical survey programs are complete at Clayton Valley, we will gather as a group to interpret the geological data and assay lab results to plan our next steps at Clayton Valley.  This next step will likely include a 3D Leapfrog model of the subsurface to identify additional drilling targets, and a subsequent drilling program later in the year to test the depth of the lithium bearing claystone.  We are very excited about the results to date on the property."

Prior Exploration Programs

This current work associated with the first phase of the 2024 exploration plan compliments prior exploration work on the Clayton Valley Lithium Project which includes a soil sampling program over the entire property and an initial prior drilling program consisting of three reverse circulation holes totaling 356 meters (1155 feet).  The holes were intended to test the presence of lithium bearing clay members of the lakebed sediments.  Drillhole RCV-01, drilled to a depth of 130m (425 feet), was designed to twin a geothermal gradient hole drilled by a previous explorer.  Results of this hole correlated with the log of the previous hole including intervals of volcanic ash and dark green clay. Hole RCV-02, located approximately 1260 meters north of RCV-01 was drilled to a depth of 135.6m (445 ft) and penetrated a section consisting primarily of rhyolitic volcanic ash and interbedded sediments.  It penetrated a 4.5-meter section of dark green clay before entering the metamorphic alluvium.  Poor drilling conditions and high-water flows ended the hole before reaching the target depth but after successfully evaluating the lake sediment section. Hole RCV-03, located 3,890m (12,762 ft) north from Hole RCV-01, was designed to look for a perched section of volcanoclastic sediments beneath an alluvial fan.  Previous water well logs indicated a layer of clay, ash, and silt beneath the alluvium and above the bedrock. Apparently, this hole was located too close to the pediment and encountered metamorphosed dolomite at a depth of 56 meters (185 feet) and about the projected elevation of the sedimentary section.  The hole lost circulation in an apparent karst horizon at 68.5 meters (225 feet) and was terminated at 79.2 meters (260 ft) without regaining sample return.

Grid's Clayton Valley Lithium Project (RC Drilling Locations Identified)


Click Image To View Full Size

Tim Fernback, Grid President & CEO comments "Clayton Valley Nevada is home to North America's only lithium brine producer (Albemarle Corporation's Silver Peak Mine) and our property is immediately to the west of their lithium property and production facility.  Recently, Century Lithium (our neighbor to the east of the Silver Peak Mine) has just released their Positive Feasibility Study by T. Lane et al. (2024). Measured and Indicated resources totaling 1,207.33 million tonnes (Mt) at an average grade of 957 parts per million (ppm) lithium (Li) containing 1.155 Mt of Li or 6.148 Mt of lithium carbonate equivalent (LCE), a 40-year mine life and an after-tax NPV 8 of $3.01 billion. Additional information is in Century Lithium's NI-43-101 by Fayram et al. (2020) 43-101 Report .

With the MT survey that has just been completed, together with the results of the planned detailed soil sampling program in the southern area of our Clayton Valley claim block, these results will allow us to determine next steps for our exploration programs later in the year."

It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).

About Rangefront Geological

Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge technology to provide mining consulting services, contract labor, field crew services, and vehicular support to the mining industry.  With services available across North America, Rangefront works closely with its clients to provide high-quality mineral exploration services.

About KLM Geoscience LLC

KLM ( https://www.klmgeoscience.com/ ) is an industry leading, Nevada-based geophysical exploration company.  Established in 2014, KLM specializes in a wide array of geophysical   methods.  Using state of the art equipment, KLM's services include induced polarization (IP), natural-source magnetotellurics (MT, AMT), controlled-source audio-frequency magnetotellurics (CSAMT), passive seismic and magnetic potential field surveys.  With a head office location in Nevada, this allows KLM to rapidly mobilize and begin work at a moment's notice throughout the Western United States and beyond.  KLM has been a preferred vendor for Grid and its management team for many years.

Qualified Person

Mr. Steven McMillin, P.G. is a Qualified Person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.

About Grid Battery Metals Inc.

Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange.  The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

  www.gridbatterymetals.com .

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to  5,610 ppm Lithium .

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims.  Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023 ).  More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023 ). Our exploration results are on-trend with these results.

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone.  As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events.  These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.

Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

References

Prefeasibility Study Clayton Valley Lithium Project, Esmerelda County, Nevada, August 5, 2020, Amended March 15, 2021, Todd Fayram MMSA-QP (CMS), Terre A. Lane MMSA-QP (GRE), J.J. Brown, SME-RM (GRE), NI43-101 Technical Report for Century Lithium

Century Lithium Announces Positive Feasibility Study for the Clayton Valley Lithium Project, Nevada, April 29, 2024, Terre A Lane MMSA-QP (GRE), Hamid Samari, Principal Geologist, Todd-Fayram, Sr. V.P Metallurgy-Century Lithium, Alan Drake, Process Engineering, Haiming (Peter)Yuan Principal Geotechnical Engineer, Paul Blauch, Technical Director, Farza Kossari, Cost Estimating Engineer, Century Lithium Press Release.

On Behalf of the Board of Directors

"Tim Fernback"

Tim Fernback, President & CEO

Contact Information:

Email: info@gridbatterymetals.com

Phone: 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 guarantees of 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. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).

Copyright (c) 2024 TheNewswire - All rights reserved.

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(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - June 20, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce the conclusion of a second phase of soil samples and the construction of a geologic model incorporating mapped geology, magnetotelluric (MT) geophysics, and soil geochemistry. Grid's exploration team has determined that a multilayered approach to drill targets would improve the chances of intercepting lithium bearing brines.

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(TheNewswire)

Grid Battery Metals Inc..

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Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased announce the results of the initial exploration program, a Magnetotelluric (MT) geophysics survey performed by the KLM Geoscience ("KLM"). The geophysics survey was overseen by Grid's Qualified Professional, Mr. Steven McMillin P.G

MT survey profiles

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(TheNewswire)

Grid Battery Metals Inc..

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(TheNewswire)

Grid Battery Metals Inc..
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Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) today announces that the Company has arranged a US$15 million loan facility with Auramet, which is expected to close on or before July 9, 2024.

CNC Logo (CNW Group/Canada Nickel Company Inc.)

Mark Selby , CEO, said, "I am pleased that our long supportive financing partner, Auramet, has agreed to provide a US$15 million bridge facility, which will allow us to remain well-funded to continue to advance our permitting, engineering, and financing activities. Discussions with offtake and project partners for Crawford are ongoing and expected to be completed before year end as we continue to target a mid-year 2025 construction decision for Crawford upon receipt of permits."

Loan Facility

The loan will be due January 9, 2025 , will carry an interest rate of 1.00% per month, and be subject to a 2.5% arrangement fee. At closing, Auramet will also receive 750,000 1 year warrants with a strike price of $1.42 . The loan will be subject to such terms and conditions including certain specified positive and negative covenants that are customary for a transaction of this nature. The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws. The proceeds will be used for working capital purposes. The closing of the loan facility is subject to customary conditions including the approval of the TSX Venture Exchange.

About Auramet

Auramet is one of the largest physical precious metals merchants in the world with over US$20 billion in annual revenues and which provides a full range of services to all participants in the precious metals supply chain. Auramet is a private company established in 2004 by seasoned professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Their business consists of three main activities: physical metals trading, metals merchant banking (including direct lending) and project finance advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2023 it purchased over 7 million ounces of gold, 126 million ounces of silver and 3 million ounces of PGMs, and has provided term financing facilities in excess of US$1 billion to date. Auramet is looking to grow its capital investment business in equity, royalties and streams in the precious metals and battery related metals mining space. Auramet is proud to have been awarded a Gold Medal for its ESG commitment by EcoVadis, the most trusted provider of ESG ratings with a network of more than 90,000 rated companies. For more information on Auramet, please visit www.auramet.com .

About Canada Nickel Company

Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins - Cochrane mining camp. For more information, please visit www.canadanickel.com .

For further information, please contact:

Mark Selby
CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the carbon capture approach could allow production of Net Zero nickel and generation of an additional tonnes of CO2 credits per tonne of nickel produced after offsetting all emissions, the potential to turn nickel mine into a generator of carbon credits rather than generator of carbon emissions, the production of estimated average of 710,000 tonnes of carbon credits annually and 18 million total tonnes of CO2 of credits over expected life of mine at Crawford, the ability to monetize carbon credits, the ability to quantify carbon capture, emission estimates, the brucite content of the deposit, the scalability of the process, the metallurgical results, the timing and results of the feasibility study including the viability of the inclusion of the IPT Carbonation Process and related facilities as part of the project, the results of Crawford's PEA, including statements relating to net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs, timing for permitting and environmental assessments, realization of mineral resource estimates, capital and operating cost estimates, project and life of mine estimates, ability to obtain permitting by the time targeted, size and ranking of project upon achieving production, 5 economic return estimates, the timing and amount of estimated future production and capital, operating and exploration expenditures and potential upside and alternatives. Readers should not place undue reliance on forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canada Nickel to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in applicable laws; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable. Although Canada Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Canada Nickel disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/canada-nickel-provides-corporate-update-and-announces-us15-million-loan-facility-with-auramet-international-inc-302179493.html

SOURCE Canada Nickel Company Inc.

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investyukon.ca

Founded in 2009, Yukon Mining Alliance ("YMA"), the globally recognized Invest Yukon brand - is a strategic industry alliance of Yukon's leading exploration, development, and mining companies, focused on creating innovative capital attraction initiatives to promote Yukon's competitive advantages as a top mineral investment jurisdiction, its member companies and their Yukon-based projects. YMA's initiatives include international investment focused conferences, events, and campaigns in the North American, European, and global financial markets.

About BTV - Business Television:
For over 25 years, BTV has been a capital markets focused TV production and Digital Marketing Agency. BTV helps companies increase their brand awareness to a national retail and institutional investor audience, combining unique content creation and major distribution services on top tier networks including Bloomberg, CNBC, FOX Business News and financial sites. The BTV suite of strategic products include: BTV- Business Television Show, CEO Clips™, TV Branding Ads, Digital, Lead Gen, Social and Direct Email Marketing Campaigns that reach investors where they research and live on-air and online.

Discover Investment Opportunities

www.b-tv.com/theagency

Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213962

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THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

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