Surge Battery Metals (TSXV: NILI) has released the results from the first part of its 2023 drilling campaign, which consisted of sonic drilling at the Nevada North lithium clay deposit.
Highlights from the results include:
- NN23-01: 24.4 metres of 4,939 ppm lithium from 8.4 metres depth, and 9.2 metres of 3,758 ppm lithium from 49.9 metres depth
- NN23-02: 34.3 metres of 3,985 ppm lithium from 20.6 metres depth
- NN23-03: 21.3 metres of 3,064 ppm lithium from 78.5 metres depth
- NN23-04: 29.8 metres of 3,841 ppm lithium from 21.3 metres depth
- NN23-05: 19.1 metres of 3,437 ppm lithium from 0.0 metres depth
The results confirm a mineralized lithium area that measures 3.0 km by 0.7 km, which is nearly double the size of the area identified under the 2022 exploration program. The footprint however does not yet cover soil sampling anomalies and geophysics, leading Surge to suggest that the footprint of the mineralized area may be even larger yet.
The Upper Claystone Horizon is the horizon that has largely been targeted under the current exploration model, with the horizon up to 30 metres thick in areas, and containing the highest grade lithium of all zones intersected. The horizon is known to span over 3.0 kilometres. The company further believes that it likely identified the edge of another near-surface claystone horizon within hole NN23-03.
Drill results remain outside for seven diamond drill holes that were conducted at the property. 2024 exploration is set to target further drilling in the second quarter, which will occur on its 5 acre disturbance area allotted by the Bureau of Land Management, and will be funded by working capital. Surge intends to submit an exploration plan of operations in the near future as a means of enabling a much larger drill program.
Surge Battery Metals last traded at $0.55 on the TSX Venture.
Information for this briefing was found via Sedar+ and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
