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Global Battery Completes Two of Six Holes at NW Leinster Project and Closes Minsur Option Agreement
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2021) -  Global Battery Metals Ltd...
About this update from Global Battery Metals Ltd.
[{"type":"text","content":"Global Battery Completes Two of Six Holes at NW Leinster Project and Closes Minsur Option AgreementVancouver, British Columbia--(Newsfile Corp. - June 8, 2021) -  Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the \"Company\" or \"GBML\") is pleased to announce that the Company has completed two of six drill holes at its North-West Leinster Lithium Project (\"NW Leinster Project\") in Ireland.Drilling activities are ongoing as the drill program consists of six holes totalling 900m.The NW Leinster Project is focused on the exploration for lithium bearing (spodumene) pegmatites in the northern part of the Leinster Massif in the Wicklow Mountains of Ireland. The project area covers fifteen (15) government issued prospecting licences and are collectively termed the North West Leinster Block (NWLB). The Block covers a total area of 477.39 km2 and is located predominantly within the Wicklow Mountains, which forms a large belt of continuous upland area trending in a NE-SW direction, to the south and south-west of Dublin. The six holes are targeted on the granite contact zone with the Maulin Formation. The first three holes intend to test both the best prospecting samples located at this prospect as well as the highest values for lithium reported in the base overburden grid survey. The remaining three holes will be collared further to the NE along the same contact zone and will be sited based on the information gained from the initial fence.Mining Option and Royalty Agreement with Minsur S.A.The Company also announces that, having received shareholder and TSX Venture Exchange approval, it has closed the previously announced mining option and royalty agreement with respect to its Lara Copper Property in Peru.As previously disclosed, the Company, together with its joint venture partner, Lara Exploration Ltd., through their Minas Dixon S.A. subsidiary, entered into a mining option and royalty agreement on July 21, 2020, with Minsur S.A. (\"Minsur\"), granting Minsur the option to acquire 100% of the rights and titles to the Lara Copper Property in Peru in exchange for staged payments based on permitting milestones totalling USD $5.75 million and a 1.5% net smelter return (the \"Mining Option and Royalty Agreement\"). The term of the option is five years from the date of execution of the Mining Option...