Surge Battery Metals Inc. reports company developments tied to lithium exploration and project advancement at the Nevada North Lithium Project in Elko County, Nevada. News commonly covers drilling and assay results, mineral resource estimate work, metallurgical testing, engineering studies, geotechnical and hydrogeological data collection, and pre-feasibility study activities for the lithium claystone project.
The company also reports updates involving Nevada North Lithium LLC, its joint venture with Evolution Mining subsidiaries, along with project funding advances, technical contractor engagements, investor relations agreements, exchange and market communications, and board or governance changes. Surge is a Canadian-based mineral exploration company with common shares quoted on the OTCQX under NILIF and listed on the TSX Venture Exchange under NILI.
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Surge Battery Metals Inc. (TSXV:NILI)(OTC PINK:NILIF) announced the appointment of Graham Harris to its Board of Directors. Harris, with over 40 years in finance, previously led Millennial Lithium Corp., acquired for $490M by Lithium Americas. His expertise includes raising over $400M for various companies and holding senior positions at Canaccord Genuity Corp. and Yorkton Securities. President and CEO Greg Reimer expressed enthusiasm regarding Harris's commitment and experience, essential for advancing Surge's flagship Nevada North Lithium Project. The project boasts significant drilling results, including a zone averaging 3,254 ppm lithium. Surge also announced granting 1.5 million stock options at 25 cents each to directors and officers.
Surge Battery Metals Inc. (TSXV:NILI)(OTC:NILIF) has entered into an option agreement to acquire the remaining 20% interest in the HN4 and N100 mineral claims in British Columbia from Nickel Rock Resources. This move grants Surge 100% ownership of the claims, enhancing its strategic position for future exploration of nickel/iron alloy "Awaruite". The acquisition involves the issuance of 1,000,000 common shares to Nickel Rock. Additionally, Surge raised $908,082 through a completed private placement. The transaction is classified as a related party transaction, exempt from minority approval due to its market capitalization standing.
Surge Battery Metals Inc. (NILIF) has received approval from the Nevada Bureau of Land Management for a new drilling program at its Nevada North Lithium Project. The company plans to drill seven new locations in May 2023, targeting a zone with high lithium content, with samples reported up to 5,950 ppm. The previous drilling in late 2022 already revealed a mineralized zone over a strike length of 1,620 meters, with notable intersections averaging 3,943 ppm lithium over 120.4 meters. This ongoing exploration aims to further assess the lithium clay deposit's size and continuity.
Surge Battery Metals Inc. has announced a significant lithium clay discovery at its Nevada North Lithium Project. The company, which is 100% owner of the project, reported lithium values ranging from 1,000 to 5,120 ppm, with the highest recorded at 5,950 ppm. Further exploration drilling is planned, with a budget of $500,000, aimed at delineating the high-grade deposit and conducting metallurgical studies in Q2 2023. Additionally, the resignation of board member William MacDonald was noted, effective February 7, 2023. Surge continues to position itself as a key player in the lithium market, vital for electric vehicle battery production.