Surge Battery Metals launches Fall drilling program at Nevada North Lithium Project, Nevada
Surge Battery Metals Inc. [TSXV: NILI; OTCQX: NILIF; FSE: DJ5] reported that the fall core drilling program has officially commenced at its Nevada North Lithium Project (NNLP), Nevada.
Premier Drilling Company of Elko, Nevada has been engaged to provide drilling services for the core drilling program, which will consist of 4,500 feet (1,370 metres) of drilling in nine holes. The initial five holes to be drilled are located on private surface lands after which the drill rigs will mobilize to the remaining four holes on public lands.
Goals for the 2025 drill program include upgrading the resource to the Indicated and Measured categories as well as collecting geotechnical and hydrogeological data to support the planned Pre-Feasibility Study (PFS).
Greg Reimer, CEO and Director, commented, “Launching this drill program is a significant step as it directly supports our near-term objective to advance the project to PFS stage. This progress will strengthen the NNLP and positions Surge as a key contributor to the future of battery metals supply in the USA.”
The company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada about 73 km north-northeast of Wells, Elko County, Nevada.
The first three rounds of drilling, completed in 2022, 2023, and 2024, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 metres and a known width of greater than 1,500 metres.
Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur during infill drilling. The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,955 ppm Li at a 1,250 ppm cutoff. The recently completed PEA reported an after-tax NPV8% US $9.17 Billion and after-tax IRR of 22.8% at $24,000/ t LCE and an OPEX of US $5,243/t LCE.