Business
Surge Boosts Highest-Grade Lithium Clay Resource in USA to 11.24 Mt LCE at 3,010 PPM Li Including 10.08 Mt LCE at 3,334 PPM Li and 7.43Mt LCE at 3,843 PPM
West Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Surge Battery Metals In...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Boosts Highest-Grade Lithium Clay Resource in USA to 11.24 Mt LCE at 3,010 PPM Li Including 10.08 Mt LCE at 3,334 PPM Li and 7.43Mt LCE at 3,843 PPMWest Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the \"Company\" or \"Surge\") is pleased to report a substantial increase to the Resource Estimate (the \"RE\") on the Nevada North Lithium Project (NNLP). The RE, prepared by Dr. Bruce Davis, includes a pit-constrained Inferred Resource of 11.24 Mt of Lithium Carbonate Equivalent (LCE) grading 3,010 ppm Li at a 1,250 ppm Li cutoff. Of the 11.24 Mt LCE, 2.59 Mt are located on the private parcel of land where the majority of mineral rights are owned by Evolution Mining (ASX: EVN).Highlights Highest Grade Lithium Clay Resource in the USA with 11.24 Mt LCE grading 3,010 Li PPM.A 113% increase in LCE tonnes and 5% increase in grade vs Feb. 2024RE includes 7.43Mt of LCE at a 3,000 ppm Li cutoff with an average grade of 3,843 PPM LiA 130% increase in LCE tonnes and 5% increase in grade vs Feb. 2024Strong Growth Potential: The updated RE remains open in multiple directions, indicating strong potential for further expansion. Additionally, there is excellent potential for increased lithium grades with future infill drilling. Mr. Greg Reimer, Chief Executive Officer and Director, commented, \"We are very pleased with today's resource update, which further cements the NNLP as a significant lithium deposit and a key source of high-quality domestic lithium. Our 2024 drilling program has delivered the highest average grades within our lithium clay mineralization to date, as clearly demonstrated by today's results. Our team successfully added over 650,000 tonnes of inferred LCE resources per drill hole within the Surge and private land claim block. All of this has been accomplished within the limited 5-acre disturbance of our current permit. Metallurgical testing, technical and economic studies, and permitting efforts are underway, with our Inaugural PEA scheduled for Q1 2025\".The lithium mineral resources at the NNLP are hosted by multiple shallowly dipping and laterally extensive clay beds, separated by tuff units. The primary horizon (\"Cu3\") contains the highest grades and is typically the first horizon intersected in drilling. Clay units primarily ...