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Surge Battery Metals (NILI.V) has announced its plan to acquire 25% of the mineral rights to four private land parcels, totaling 880 acres.
Nevada North Lithium Project
Located in the Granite Range southeast of Jackpot, this project is approximately 73 km north-northeast of Wells, Elko County, Nevada.
First Round of Drilling
Completed in October 2022, the first round of drilling revealed a strongly mineralized zone of lithium-bearing clays. This zone spans a strike length of nearly 1,620 meters.
The mineralized horizons’ widths are at least 400 meters. Highly anomalous soil values suggest the potential for these clay horizons to extend even further.
2023 Drill Program
The 2023 drill program aims to expand the known lithium-rich clay from the current 1,620 meters strike length to over 3,500 meters. The first hole of the 2023 season yielded a high of 8,070 ppm lithium, with an average of 4,067 ppm lithium at a 1,000 ppm cut-off.
By 12:10 p.m. EDT, Surge Battery Metals’ shares had risen by 14%. The lithium developer now boasts a market capitalization of $134 million.
Company Website: https://surgebatterymetals.com
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