Surge Battery Metals Inc. (TSXV: NILI | OTC: NILIF | FRA: DJ5C) has announced an expansion of its land holdings at the Nevada North Lithium Project through additional claim staking and by agreement with M3 Metals Corp.
With the additional staked lands and the M3 lands, Surge will have increased its land position in the area to approximately 5,180ha, up from a previous area of 2,537ha.
“I am very pleased to announce the M3 Metals Corp agreement as a strategic acquisition by the company that ensures it controls potential extensions of our existing high tenor, lithium clay deposit,” commented Surge CEO and director, Greg Reimer.
“In addition, over the last several months, Surge has completed additional staking which significantly adds to the strategic land package. These acquisitions support where our geological staff see strong indications for additional lithium bearing clay horizons.”
The Nevada North Lithium Project is in Elko County, Nevada in the US, where the company owns 100% interest in 243 mineral claims. The project’s goal is to identify a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments.
Initial surveying of the area used public domain stream sediment geochemical data, revealing significant lithium, ranging from 29.1ppm to 5,120ppm. Follow-up soil sampling identified multiple zones, of which 101 samples carried greater than 1,000ppm Li out of the 1,026 samples obtained.
The current main soil lithium anomaly extends approximately 2,300m north-south by about 500m wide, with three other significant soil anomalies also outlined in the programme.
The M3 Metals Corp agreement grants Surge the option to earn up to an 80% interest in and to the M3M lands under three separate option payments. The agreement is expected to occur within 10 days of TSX Venture Exchange approval.
For further information, please visit: www.surgebatterymetals.com
To read more articles like this, please visit: www.theassay.com/news
