Grid Battery Metals (TSXV:CELL; OTCQB:EVKRF) focuses on high-value battery metals required for the electric vehicle (EV) market through its highly prospective lithium and nickel properties in North America. Grid has three lithium properties in Nevada: Texas Springs, Clayton Valley, and Volt Canyon.
The Texas Springs Property, located in Elko County, covers approximately 2,500 hectares and is adjoining the southern boundary of the Nevada North Lithium Project owned by Surge Battery Metals (TSXV:NILI). Surge recently announced high-grade lithium of up to 8,070 parts per million (ppm) lithium on the Nevada North Lithium project, which increases the likelihood of a large-scale high-grade lithium discovery at Texas Springs.
The company has completed the first phase of its initial exploration program at Texas Springs, which included a CSAMT geophysical survey and a detailed soil sampling on a 50-meter by 100-meter spacing. Results from these two exploration programs will be key to determining its 2024 exploration plan and possible drilling locations for clay-based lithium targets.
This Grid Battery Metals profile is part of a paid investor education campaign.*
Grid Battery Metals (TSXV:CELL,OTCQB:EVKRF) is a Canada-based exploration company focused on high-value battery metals required for the electric vehicle (EV) market. The company, formerly called Nickel Rock Resources, changed its name to Grid Battery Metals in April 2023 and started trading on the TSXV under the ticker CELL.
Grid is focused on EV battery metals exploration through its highly prospective lithium and nickel properties in North America. Grid has three lithium properties in Nevada: Texas Springs, Clayton Valley, and Volt Canyon. The Texas Springs property in Elko County covers approximately 2,500 hectares and is adjoining the southern boundary of the Nevada North Lithium Project owned by Surge Battery Metals (TSXV:NILI). Surge recently announced high-grade lithium of up to 8,070 parts per million (ppm) lithium on the Nevada North lithium project, which increases the likelihood of a large-scale high-grade lithium discovery at Texas Spring. Initial soil sampling at Texas Spring by Grid have shown high-grade lithium over 5,600 ppm as announced on February 7, 2024.
The company has completed the first phase of its initial exploration program at Texas Springs, which included a CSAMT geophysical survey and a detailed soil sampling on a 50-meter by 100-meter spacing. Results from these two exploration programs will be key to determining its 2024 exploration plan and possible drilling locations for clay-based lithium targets.
The 2,300-acre Clayton Valley property is immediately north of Albemarle’s (NYSE:ALB) Silver Peak lithium project, the only producing lithium mine in North America. The property has strong potential to host both lithium brine deposits as well as clay-hosted deposits.
Grid has filed the NI 43-101 technical report for the Clayton Valley lithium project, using the results of prior soil samples, geophysical surveys, and drilling on the property, to help identify structure and target areas favorable to lithium accumulation and determine next steps for its overall exploration plan. The company also commenced its 2024 exploration program for the property with Rangefront Geological to perform a detailed soil sampling on a 250 metre x 250 metre spacing, and to oversee an MT geophysical survey performed by KLM Geoscience.
The Volt Canyon lithium property features sediment-hosted lithium clay targets and has excellent accessibility, enabling exploration and exploitation throughout the year. Although limited exploration has been conducted in the immediate area, regional sediment samples in the region taken by the US government returned up to 108 parts per million (ppm) lithium near the property.
Shareholders should benefit from the company’s strategy of divesting its nickel assets into a separate public company. Grid has completed the spin off its British Columbia nickel property into a new company, ACDC Battery Metals, which has commenced trading on the TSX Venture Exchange under the symbol ACDC.
Grid’s management and geological team has been actively exploring for EV battery metals in Nevada for over a decade. They have been successful in finding and funding new lithium discoveries and had a number of successful exits from companies, the most recent being Surge Battery Metals, where they were responsible for the discovery of the Nevada North Lithium Project. The management’s successful track record of lithium exploration in Nevada provides confidence about the company’s future.
The support from both the US and Canadian governments through subsidies and favorable legislation continues to drive EV adoption. In particular, both countries have committed to supporting the mining industry for key battery metals with legislation like the US Inflation Reduction Act, which provides both financial and functional support to the mining industry. Buoyed by government policy, US electric vehicle sales are projected to surpass 4.6 million units by 2030 (versus the 2023 estimate of 1.3 million).
Automakers cannot produce electric vehicles without access to battery metals such as lithium and nickel. Fear of missing out is pushing automakers to lock supplies of minerals for electric vehicle batteries. As such, we are seeing increasing partnerships between miners and auto OEMs. Automakers, including General Motors, Ford, BMW, Tesla and Stellantis, have committed large investments in direct financing of mines. We see more carmakers following suit as they strive to own the full supply chain from mine to product.
In mid-2024, Grid Battery Metals expanded its exploration land holdings in Northern British Columbia with a copper property of 17 mineral claims comprising 27,525.24 hectares. The region hosts numerous operating mines, and good infrastructure including experienced exploration and supporting services.
The Texas Spring lithium project, located in Granite Range, Nevada, is 100 percent owned by the company. The project covers approximately 400 hectares (988.4 acres) of area with 34 full lode claims and 30 partial lode claims. It is adjacent to the southern boundary of the Nevada North lithium project, owned by Surge Battery Metals. Surge’s initial drilling efforts have successfully identified lithium-rich clay deposits. A recent discovery in September 2023 showed values of up to 8,070 ppm of lithium. Initial soil sampling at Texas Spring by Grid has shown high-grade lithium over 5,600 ppm as announced on February 7, 2024.
The proximity to Nevada North Lithium certainly increases optimism for the Texas Spring Project. On top of that, the key founders and members of Surge’s geological team are also the founding management team of Grid, which further increases confidence in the project. The project enjoys excellent infrastructure in terms of paved highways and country roads.
The company completed the first phase of its initial exploration program at Texas Springs which included a CSAMT geophysical survey and a detailed soil sampling. Together, they would help predict geological structure and possible drilling locations for lithium targets.
The Clayton Valley lithium project, located in Clayton Valley Nevada, is 100 percent owned by the company. The project is spread over approximately 930 hectares (~2,300 acres) with 118 claims. The project is located approximately 344 kilometers (~214 miles) from Reno in the northwest and Las Vegas in the southeast. Moreover, the property is around 315 kilometers (~196 miles) from the Tesla giga-factory and features good infrastructure with excellent road access and a nearby electrical substation.
The project claims are adjacent to the Silver Peak lithium project of Albemarle Corporation, which is the only producing lithium mine in North America. Clayton Valley’s lithium is contained in both underground reservoirs (aquifers) in the form of salty groundwater (brine), and in clay-hosted deposits. Historic exploration work dating back to 2021, which included three reverse circulation holes, has inferred the existence of a graben that may be a sub-basin of the larger Clayton Valley basin and may represent a secondary trap for lithium brines.
The Volt Canyon lithium project, located in Monitor Valley, Nevada, is 100 percent owned by the company. The project covers an area of approximately 635 hectares (~1,569 acres) with 80 claims and is located approximately 122 kilometers northeast of Tonopah, Nevada. It benefits from excellent accessibility that enables exploration throughout the year.
Although limited exploration has been conducted in the immediate area, regional sediment samples in the region taken by the US government returned up to 108 ppm lithium near the property. The deposit’s origin is thought to be similar to Clayton Valley clay deposits, located about 180 kilometers to the south.
The exploration program includes surface sampling, auger or push drill water sampling along with geophysical work to identify drilling sites for an initial drill test on the property. Subsequently, additional surface and subsurface sampling will be executed in the form of drilling.
The Grid Copper project consists of 17 claims comprising of 27,525.24 hectares in the Omineca Mining Division of north-central British Colombia, approximately 150 km north of Ft. St. James. The claims are not subject to any royalty terms, back-in rights, payments or any other agreements and encumbrances.
The property is road and helicopter accessible from Ft. St. James via a network of province-maintained paved roads and forestry-maintained gravel roads. The Canadian National Railway company owns an inactive railway line that passes a short distance from the property.
Tim Fernback holds a Bachelor of Science from McMaster University in Hamilton, Ontario and an MBA with a concentration in finance from the University of British Columbia. He also holds a Certified Professional Accounting (CPA, CMA) designation in Canada. He has more than 30 years of experience in finance with both public and private companies in Canada and is currently a director of several publicly traded companies.
Roberts Guanzon holds a Bachelor of Science degree in accounting and has rich experience in finance, accounting and corporate strategy. He serves as the CFO of several junior resource companies listed on the TSXV and holds a certified professional accounting (CPA, CMA) designation in Canada.
Tina Whyte has more than 20 years of experience in the corporate and securities industry. She is an expert in several areas including corporate governance, continuous disclosure, financing transactions and regulatory filings and compliance. She also holds corporate secretary positions with other publicly listed companies.
Solange Khan’s expertise extends to developing and executing targeted social media campaigns and collaborating with cross-functional teams. Her strong communication skills and creative vision are complemented by her ability to stay ahead of industry trends and adapt strategies to meet evolving market demands. She holds a B.A. degree from the University of Toronto and is dedicated to continuing to elevate the company’s digital presence and ensuring that all communications, both internal and external, align with the overall corporate strategy.
Robert Setter holds a degree in economics and has over two decades of experience in business development, marketing and research. Previously, he has served as the senior financial editor for Report on Mining. He currently sits on the boards of three other listed mining companies.
Ali H. Alizadeh is a senior geologist possessing extensive experience in mineral exploration & project management. He has been responsible for several uranium, gold and base metal projects during his exploration career with various exploration companies. He graduated with a geology degree in 1991, a M.Sc. in petrology in 1995, and an MBA at Queen’s University in 2010. He is also a member of the Association of Professional Engineers and Geoscientists of British Columbia.
Jeremy Hanson is a professional geoscientist with a decade of experience in mineral exploration in Canada. He is also a founder of Hardline Exploration, a geological consulting firm focused on Western Canada.
Steven McMillin boasts over 35 years of hands-on experience in mineral exploration within the United States, particularly in Nevada, earning him widespread recognition as a seasoned exploration geologist. Currently serving as the field operations manager at Rangefront Geological, he spearheads the coordination and execution of drill programs. His role includes liaising with vendors and regulatory bodies, ensuring drill safety measures, overseeing drilling and sampling procedures, and managing site reclamation efforts.
Exploring Highly Prolific Lithium Assets in Nevada
(TheNewswire)
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Coquitlam, BC TheNewswire - March 17, 2025 - Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) announces that further to its news release dated August 29, 2024, and the TSX Venture Exchange's ("Exchange") conditional acceptance letter dated October 9, 2024, the Company has now closed the "related party" transaction subject to final Exchange approval.
The Company entered into a Purchase and Sale Agreement dated August 26, 2024 (the "Agreement"), with AC/DC Battery Metals Inc. ("AC/DC"), whereby the Company has acquired a 100% interest in 17 copper mineral claims comprising 27,525.24 hectares located in North Central British Columbia. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services (the "Transaction").
Terms of the Transaction:
Pursuant to the terms of the Agreement, the Company issued 5,000,000 common shares at a deemed value of $0.05 per share to AC/DC upon Closing. The Company also paid AC/DC $48,172.15 in staking costs.
All securities issued in connection with the Transaction are subject to a four month and a day hold period expiring on July 18, 2025, in accordance with Canadian Securities Laws.
Pursuant to TSXV Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (" MI 61-101 "), the Agreement constitutes a "related party transaction" due to the fact that there are common officers and directors of the Company and AC/DC. The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25% of the Company's market capitalization. No new insiders will be created, nor will any change of control occur, as a result of the Transaction .
Tim Fernback, President and CEO States "It has taken a while to get this Transaction approved but it is for the ultimate benefit of the shareholders. Now we can begin the next exploration steps as outlined in our NI 43-101 Technical Report."
In connection with the closing of the Transaction the Company has filed on SEDAR+ at www.sedarplus.ca a NI 43-101 Technical Report for Grid's BC Copper Gold Project, dated January 24, 2025, prepared by Jeremy Hanson. The Report can also be viewed on the Company's website at Grid Copper Project Technical Report .
Qualified Person
Jeremy Hanson, P.Geo., an independent qualified person as defined under National Instrument 43-101 has reviewed and approved the technical content in this news release.
About Grid Battery Metals Inc. www.gridbatterymetals.com .
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.
About the British Columbia Copper Property
"We're excited that we have acquired approximately 275 km 2 of tenures in such a favourable mining region within BC." commented Tim Fernback, President and CEO. "This area of the Province has already generated several promising projects, and our land package is strategically situated to exploit the high copper-gold values of the region. NorthWest Copper Corp. ( TSXV: NWST ) on the nearby Kwanika project intercepted 400 metres of 1.01% Copper equivalent (News Release January 16, 2023 Northwest Copper Corp). BC is a mining-friendly jurisdiction with reasonable processes, good infrastructure and potential First Nation partners."
B.C. Minfile assessment report data indicates that most of the area covered by the Copper Property was at one time or another covered by staking during surges of exploration in B.C. dating from the 1940's to present day. Largely the claims appear to have been minimally explored with little follow-up. However, some work was recorded on several claims with results for stream sediment sampling showing anomalous to highly anomalous results for gold in a few areas. These areas were recommended for detailed follow-up, however due to a downturn no further work was recorded
Prominent among early discoveries in the Omineca region were the nearby Lustdust/Stardust property (a property developed by Lorraine Copper that was sold to Sun Metals Corp. which eventually merged with Serengeti Resources to become NorthWest Copper Corp.) covering a large, coherent integrated porphyry-skarn, epithermal system; the Kwanika property (a Serengeti/POSCO Daewoo property also became a NorthWest Copper Corp. property upon the merger with Serengeti Resources) a promising advanced stage copper-gold project; the Lorraine property (originally discovered by Lorraine Copper and now a NorthWest Copper Corp. property)an alkalic copper-gold porphyryr. The tenures are located between the Kemess North project being developed by Centerra Gold Inc. ( TSX: CG, NYSE: CGAU ) and its operating Mt Milligan mine, which is reported to contain 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.)
The Omineca Group claim areas are within the northern Quesnel Trough underlain by Cache Creek Terrane and lies close to the Pinchi Fault. The Quesnel Trough hosts numerous porphyry copper-gold deposits. The Pinchi Fault can be traced for 600 km through north-central B.C and separates Cache Creek rocks from the Jurassic Hogem Batholith and Triassic-Jurassic Takla rocks to the west. Rocks have a north-northwest strike trend typical of the entire Intermontane Belt in which the Cache Creek Terrane lies (Gabrielse and Yorath, 1992). A wide range of Jurassic to Tertiary intrusions cuts the Cache Creek Assemblage and many of these are emplaced along the prominent NW-trending structures and stratigraphic breaks. Numerous mercury occurrences are present along the length of the Pinchi fault (Albino, 1987) and a few gold and base metal occurrences are present near the Pinchi fault including the Lustdust, Lorraine, Indata and Axelgold properties. There are at least two alkalic gold-copper Porphyry systems in the immediate Lustdust (now known as Stardust) area: J49 and Axel Properties (Schiarrizza, 2000).
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 930 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.
About the 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.
On Behalf of the Board of Directors
Email: info@gridbatterymetals.com
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) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Coquitlam, BC TheNewswire - January 21, 2025 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce the results of its fall 2024 reverse circulation drilling program on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion .
Drilling Image from the Clayton Valley Lithium Project
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Mr. Tim Fernback, Company President and CEO comments "Now that we have the results of the fall 2024 exploration program at our Clayton Valley Lithium Project, we are excited about the next steps of further testing the lithium content of the claystones and brine in the southern part of the claim which is near the Silver Peak Lithium Mine. This area holds the greatest promise as a lithium deposit for our company at Clayton Valley. One of the stated goals of the fall drilling program was to test the depth of the accumulated lithium brine and claystones on our property which was completed. With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual maiden resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders."
Summary of the 2024 Fall Exploration Program at Clayton Valley
Grid Battery Metals completed a five-hole drill program in late October 2024, and assay results have since been returned. A total of 4735 feet were drilled to test for economic lithium clay and lithium brines with the Company landholdings located 1.2 miles northeast of Silver Peak, Nevada. Figure 1 shows the locations of the completed 2024 and 2021 holes.
The ingredients for lithium deposition including basin bounding faults, tuffaceous sediments, and geothermal waters are present on the Grid claims (Figure 2). Geologically, the property lies above a north trending fault graben on the west side of Clayton Valley called the Goat Island Graben. The surface is composed of alluvium, dunes, and playa sediments. Hot-spring related travertine, sinter, and tufa deposits occur on the west edge of the graben andare thought to represent upwelling and lithium bearing geothermal water from the deeper Clayton Valley basins to the east.
Tuffaceous sediments (including sinter and travertine), and alluvial gravels with anomalous lithium were encountered in nearly every hole. Water temperatures were elevated in all holes with a peak temperature of 85˚C in RCV-05. The presence of sinter and travertine in the holes suggests that hot-springs sediments covered a much broader area than the mapped exposures indicate.
Table 1 is a summary of assay results. Water assays were collected in 500 ml plastic bottles every 20 feet and sent to ALS Global where they were weighed, filtered, acidified, and analyzed by ICP-AP. Cutting samples were collected every 5 feet and sent to Bureau Veritas in Reno for analysis. Samples were processed, weighed and air-dried. Samples were crushed to 70% passing 10 mesh in a 250 g split. The analysis was by multi-acid digest with ICP-MS/ES finish. QA/QC standards, blanks, and field duplicates were inserted approximately every 20 samples.
Lithium concentrations in water samples were determined in all holes. The best drill-cutting intercept occurs in RCV-04 in tuffaceous sediments between 80 and 250 feet with an average of 298 ppm Li that includes grades to 741 ppm and is worthy of further exploration . Published low-grade clay-hosted lithium assays are approximately 800-850 ppm. While lithium assays generally diminish to the north, there is still untested property to the south to explore for shallow, but higher-grade lithium which is of considerable interest to the Grid Exploration Team.
The anticipated thickness of the sediments above Cambrian basement (1500-1800 feet) in the Goat Island Graben appears thinned by the presence of basalt with an unknown thickness that may occur along the length of the Graben. However, this "flow" may lie on top of older sediments within the graben, G. and could potentially act as an ideal aquitard for lithium brines (Figure 2). Seismic survey lines would help to establish the basalt depth and plan for deeper drill targets. Grid Battery Metals will consider its exploration options for 2025 with a primary focus on the southern area of the claim block which returned the highest lithium drill results for the Company.
Figure 1: Grid Battery Metals property with drill hole locations, faults, and hot-spring related rocks
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Figure 2: Interpretive north facing cross-section showing extended hot-springs rocks and basalt. Section is located between RCV-01 and RCV-05
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Table1: Summary of Results
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Mr. Steven McMillin, P.G. Company Qualified Person, states "For a follow-up program consisting of shallow holes less than 600 feet could rapidly test for higher grade lithium to the south of RCV-04. For a deeper test beneath basalt, an active seismic test line should be considered to identify the basalt thickness and hopefully the graben bottom. Drilled lithologies, particularly basalt, will help calibrate the seismic results. If the results indicate there is a lower package of sediments, then more lines to the south RCV-04 and possibly over holes drilled to the north could be conducted. Magnetotelluric results in conjunction of the seismic results can be reinterpreted. From this, a much better geologic model can be constructed to plan deeper drill holes".
Mr. McMillin continues "There is a possibility of a deeper section of sediments below the basalt in the Goat Island Graben. Basalt could be an excellent aquitard for lithium brines."
Assays
Cutting samples were sent to Bureau Veritas ("BV") laboratory in Reno. Samples were processed, weighed and air-dried. The air drying was recommended by Applied Hydrologic of Reno because normal drying temperatures in a lab may volatilize lithium. Unfortunately, additional time was added to sample processing. After weighing, samples were crushed to 70% passing 10 mesh in a 250 g split. The analysis was by multi-acid digest with ICP-MS/ES finish.
Water samples were delivered to the ALS Global laboratory in Elko. The water samples were kept in a cooler with ice until delivery. Samples were logged in, filtered, and acidified. The analysis was done by ICP instrumentation.
Geology Logging
Lithology samples were captured every 5 feet using a strainer and placed into 20-compartment plastic chip trays for geologic logging. Chip logging into an Excel spreadsheet was conducted during night and day shifts. and lithology, structure, alteration, and mineralization were logged into separate worksheets.
Drillhole Geology
The geology of all holes drilled is summarized in Table 1. Material drilled includes lacustrine alluvial sediments, and basalt Common features encountered in nearly every hole include:
• Thin recent alluvium cover of approximately 20 feet.
• Clay and travertine/sinter intervals to approximately 400 feet from the surface.
• Basalt from approximately 400 feet with an unknown total thickness. The exceptions
are RCV-06 and RCV-08 where no basalt was drilled.
• Groundwater temperatures of 85̊-120̊ F. RCV-05 ended with 180˚ F water.
• Evidence of active hydrothermal alteration at multiple elevations in multiple
lithologies.
• Water flows of up to 220 gallons per minute.
Alteration in tuffaceous units consists of distinct greenish or gray clays.
Qualified Person
Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.
About Grid Battery Metals Inc. www.gridbatterymetals.com .
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.
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 930 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.
About the 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.
About the British Columbia Copper Project
The Company acquired a 100% interest in 17 mineral claims comprising 27,525 hectares (approximately 275 km 2 ) located in North Central British Columbia, that has conditional approval by the TSX Venture Exchange at the time of this news release. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services. Prominent among early discoveries in the Omineca region include the nearby Lustdust/Stardust Copper – Gold deposit; the Kwanika Copper - Gold deposit and the Lorraine Copper deposit (all of which are owned by ( NorthWest Copper Corp. ( TSXV: NWST ) ).
The Company's claims are also located between Centerra Gold Inc.'s ( TSX: CG, NYSE: CGAU ) prominent Copper/Gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.).
On Behalf of the Board of Directors
Email: info@gridbatterymetals.com
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) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Grid Battery Metals Inc. (the "Company" or "Grid") (TSXV: CELL)(OTCQB:EVKRF)(FRA:W47) is pleased to announce that its reverse circulation drilling program has now been completed on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE:ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV:LCE)(OTCQB:CYDVF) proposed 5,430-acre Angel Island Lithium Mine, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion
Mr. Tim Fernback, Company President and CEO comments "Now that our fall drilling program at our Clayton Valley Lithium Project has been successfully completed, we are eagerly awaiting the lithium assay results from the lab. One of the stated goals of the planned drilling program was to test the depth of the accumulated lithium brine and claystones on our property. With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual maiden resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders."
Exploration Images from the Clayton Valley Lithium Project
Mr. Steven McMillin P.G. comments "We ended the drilling program with our last hole drilled to a depth of 1,160 feet, testing a considerable section of possible lithium bearing sediments on the property. In total, five holes were completed for 4730 total feet. Four holes were originally planned, but a fifth hole (RCV-08) was offset from RCV-06 that was lost at a shallow depth to bad ground conditions. We encountered highly variable drilling conditions in each hole including high water temperatures and volumes. Lithologies were also variable from hole to hole. However, in most holes we encountered evidence of hot spring style alteration within the first 600 feet in the form travertine and tufa. Several heavy clay layers were encountered in most holes that could have originally been tuff units. Our last hole (RCV-08) was terminated by an impenetrable zone of heavy brick red ball clay. In Clayton Valley, sinter, travertine, and tufa are considered surface evidence of geothermal waters that can leach and mobilize lithium from ash layers at depth. Both drill cuttings and water were sent for analysis."
Mr. Fernback continues "The results from the Clayton Valley Lithium Project fall drilling program are expected to arrive in mid-late November."
Area Map (Clayton Valley Lithium Project)
Qualified Person
Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.
About Grid Battery Metals Inc.www.gridbatterymetals.com.
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.
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 930 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.
About the 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.
About the British Columbia Copper Project
The Company acquired a 100% interest in 17 mineral claims comprising 27,525 hectares (approximately 275 km2) located in North Central British Columbia. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services. Prominent among early discoveries in the Omineca region include the nearby Lustdust/Stardust Copper - Gold deposit; the Kwanika Copper - Gold deposit and the Lorraine Copper deposit (all of which are owned by (North West Copper Corp. (TSXV:NWST)).
The Company's claims are also located between Centerra Gold Inc.'s (TSX:CG, NYSE:CGAU) prominent Copper/Gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.).
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).
SOURCE: Grid Battery Metals Inc.
News Provided by ACCESSWIRE via QuoteMedia
(TheNewswire)
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Coquitlam, BC September 26, 2024 TheNewswire Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine. The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.
Mr. Tim Fernback, Company President and CEO comments "Our Clayton Valley Lithium Project is situated near Albemarle Corporation's (NYSE: ALB) Silver Peak Mine which is North America's only producing lithium brine mining operation. Our property is located immediately to the west of this existing Albemarle lithium production facility. Additionally, our lithium property is near Century Lithium's (TSXV: LCE) (OTCQB: CYDVF) Angel Island lithium project, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion . One of the stated goals of the planned drilling program will be to test the depth of the accumulated lithium brine and claystones on our property. With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders. "
Mr. Fernback continues "The reverse circulation drilling program is expected to continue until early October and is being performed by experienced mining contractor, Envirotech Drilling LLC and supervised by Rangefront Geological ("Rangefront") and our Company Qualified Person Steven McMillin P.G."
Mr. Steven McMillin P.G. comments "There is considerable surface evidence of geothermal activity in this area. Our first drill hole found encountered hydrothermally altered sediments (sinter) affiliated with hot springs from 10 to 265 feet interspersed with intervals of gray clay altered air fall tuff at both 205 feet and 250 feet. It is located nearly 1200 feet east of the nearest mapped tufa and sinter. In Clayton Valley, sinter and tufa are considered surface evidence of geothermal waters that can leach and mobilize lithium from ash layers at depth. Heterolithic gravels occur immediately beneath the sinter and extend to 410 and basalt lava occurs from 410 to 820 feet. The hole ended in Paleozoic sediments at 870 feet."
Images on Location (Clayton Valley Lithium Project)
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Planned Drill Locations (Clayton Valley Lithium Project)
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The Company also announces that further to its news release dated August 16, 2024, the Company has revised its Marketing Contract with i2i Marketing Group, LLC ("i2i") and the payments will now be as follows:
Upon Exchange Approval the Company will pay i2i an initial payment of $150,000 USD (the "Initial Media Budget");
On the 1 st day of October, November and December, 2024, the Company will pay equal payments to i2i of $150,000 USD for an initial term of four months (the "Initial Term"); and
On the 1 st day of January, 2025 and February, 2025 the Company will pay equal payments to i2i of $300,000 USD for a secondary term of four months (the "Secondary Term").
All other terms of the revised agreement remain the same.
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.
Qualified Person
Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.
About Grid Battery Metals Inc. www.gridbatterymetals.com .
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.
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 930 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.
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.
On Behalf of the Board of Directors
Email: info@gridbatterymetals.com
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.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
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Coquitlam, BC TheNewswire - September 12, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: NMK2 ) is pleased to announce that a reverse circulation drilling program is commencing on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine. The Company plans to drill several exploration holes to maximum depths of 1500 ft. in several strategic locations on the property during the month of September.
Mr. Tim Fernback, Company President and CEO comments "Even though lithium commodity prices are much lower from their earlier highs, the Clayton Valley area is booming again for lithium clay exploration and development. Our Clayton Valley Lithium Project is situated near Albemarle Corporation's (NYSE: ALB) Silver Peak Mine which is North America's only producing lithium brine mining operation. Our property is located immediately to the west of this existing lithium production facility. Additionally, our lithium property is near Century Lithium's (TSXV: LCE) (OTCQB: CYDVF) Angel Island lithium project, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion . With our current exploration program in place, we will be able to lay the groundwork for a more significant exploration program budget and program in the future. We are excited about this opportunity in Nevada for our lithium clay project."
Mr. Fernback continues "The reverse circulation drilling program is expected to continue until early October. The Company should be able to immediately to identify the various clay and sediment layers and locations of water zones down to the older underlying basement rocks. Maximum estimated depths for these holes are 1500 feet. Samples for assay will include drill cuttings and collected water.
At the Clayton Valley Lithium Project, t he reverse circulation drilling program will be performed by experienced mining contractor, Envirotech Drilling LLC and supervised by Rangefront Geological ("Rangefront") and our Company Qualified Person Steven McMillin P.G.
Proposed Drill Locations (Clayton Valley Lithium Project)
Click Image To View Full Size
Click Image To View Full Size
Mr. Steven McMillin P.G. comments "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. Three drill holes in the south were selected by our team based on the combination of geophysics data and soil sample data that point to possible lithium accumulation within claystone and brine. The hole located at the north of the property has no significant soil signature as it is buried by alluvium, but it has a low-resistivity anomaly with a significant depth extent. A claystone dominant host for lithium is hypothesized at this location.
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.
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.
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 930 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.
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.
On Behalf of the Board of Directors
Email: info@gridbatterymetals.com
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.
News Provided by TheNewsWire via QuoteMedia
