Grid Battery Metals Inc. [TSXV-CELL; OTCQB-EVKRF; FSE-NMK2] reported that Technical Report for the Texas Spring Lithium Project, Nevada, dated January 25, 2024, prepared by Seth Cude, P.G. of Rangefront Geological, has been filed on SEDAR+.
The Grid team recently completed the Phase 1 exploration of the Texas Springs property in fall 2023 which included both a CSAMT geophysical survey and a detailed soil sampling on a 50 m X 100 m spacing. Results were impressive and on-trend with the results found at the Surge Battery Metals Inc. [TSXV-NILI; OTC-NILIF] Nevada North Lithium property that adjoins the Texas Spring property to the north. Phase 1 Exploration results included average Lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to an impressive 5,610 ppm Lithium.
As noted above, the Texas Springs Lithium property adjoins the southern border of the Nevada North Lithium Project – owned by Surge Battery Metals. 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 3,254 ppm. On September 12, 2023, Surge announced some encouraging results of its most recent drilling program at this property, and recorded its highest grades to date, with up to 8,070 ppm Lithium on the Northern Nevada Lithium project. These results were followed up on with a subsequent drill program yielding core drilling intercepts with assays over 7,630 ppm and multiple horizons upon deeper drilling performed.
Tim Fernback, Grid President and CEO commented. “We are happy to report the filing of the NI 43-101 Technical Report on our Texas Spring Lithium Project. The recommendation for future exploration includes a multi-phase drilling program as a logical next step here on the property. The timing is good for the Company, and with approximately CAD$7.2 million in our treasury, we are well-positioned and fully funded for our 2024 exploration season.”
The company also announced that further to its news release dated December 13, 2023, the company has decided not to go forward with the Media Services contract with Omni8 Communications Inc.
The company owns a 100% interest in the Texas Spring property which consists of mineral lode claims 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.
Grid Battery owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in the 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.
Grid Battery owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
The Grid Nickel Project consists of three claim blocks with a total area of 5,000 hectares in the area surrounding Mount Sidney Williams, near the Decar project of FPX Nickel Corp., located 100 km northwest of Fort St. James, British Columbia in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium, whereby nickel has been recorded in the Fe-Ni alloy awaruite as well as nickel sulphides.