Surge Battery Metals Said To Expand Planned Drill Program
Surge Battery Metals (TSXV: NILI) is reporting this morning that it has expanded its planned drill program for the Nevada North Lithium Project. The expansion follows approvals from the Nevada Bureau of Land Management.
The expanded program is set to drill test as many as eight targets over an area that is said to measure 3.0 kilometres by 1.2 kilometres, however details on how many metres the company plans to drill were not provided.
Drilling is set to begin the first week of July, with the primary focus being defining lateral and vertical extents of the deposit. Following this, Surge then intends to conduct an in-fill drill program to gain a better understanding of the mineralization.
The company in February indicated that a phase two drill program would consist of at least seven holes, after a planned fifteen hole program was cut down to eight holes as a result of time constraints. That program however saw Surge intersect 120.4 metres of 3,943 ppm lithium.
READ: Surge Battery Metals Sees American Lithium Take 9.9% Stake
“Following on from the excellent results of last year’s exploration drilling, Surge is advancing rapidly towards this next step, with a target of estimating a resource later this year,” commented CEO Greg Reimer.
The expanded program follows the company closing a $5.4 million investment from American Lithium Corp, who now owns a 9.7% stake in the company.
Surge Battery Metals last traded at $0.53 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.
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