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Coquitlam, BC – TheNewswire - March 28, 2024 - Grid Battery Metals Inc.(the “Company& or “Grid&) (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) is pleased announce that our 2024 Exploration Program has officially started on its Clayton Valley Lithium Project. The 2024 Exploration Program will begin with a Magnetotelluric (MT) geophysics survey performed by the KLM Geoscience (“KLM&) as overseen by Grid&s Qualified Professional, Mr. Steven McMillin P.G..
KLM Geoscience LLC (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.
Clayton Valley MT Site Design:
At the Grid Clayton Valley Lithium Project, MT Systems will be deployed using 100m inline and 100m crossline electric field dipoles, at a station spacing of 250m and line spacings of 500m. A total of 85 station sites are planned for the survey. A pair of horizontal (x,y) magnetic field sensors, oriented parallel to the electric field dipoles will be deployed at every other site and MT sites will record overnight for a minimum of 14-16 hours. The geophysical survey plan is to deploy a minimum of five (5) MT sites per day, using a six (6) person crew.
Grid&s Clayton Valley Lithium Project
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The MT survey is a preferred method for identifying strata that may contain lithium brine (evidenced by low resistivity), structures that potentially focus brine, and basin floor geometry. The follow-on soil sampling program will identify where subsurface brine may have reached the surface. The combination of MT and geochemistry will assist the Company in determining the next steps for its 2024 exploration including the planning of a first phase drill program.
Tim Fernback, Grid President & CEO comments “KLM is a company that our geological team has successfully used several times in the past for lithium exploration work in Nevada. The MT survey has just begun, will be followed by a detailed soil sampling program by Rangefront Exploration under the guidance of our Qualified Professional. Together these results will allow us to select drill targets for subsequent exploration programs later in the year. As everyone is aware, 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.&
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 results with 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.
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, Nickel Projects
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consists of one claim block covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The Company&s B.C. Nickel properties are held within Grid&s wholly-owned subsidiary, AC/DC Battery Metals Inc.
The Company has previously announced plans to spin out its wholly-owned subsidiary, AC/DC Battery Metals Inc., finance it separately, and separately list it on the TSX Venture Exchange in 2024. This transaction once complete, will provide a valuable share dividend to each Grid Shareholder of record for no additional cost.
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).
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