Surge Battery Metals Expands Discovery In Nevada After Receiving Encouraging Results From Reconnaissance Drilling By David Willey, Benzinga
Coquitlam, BC
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December 28, 2022 08:00 AM Eastern Standard Time
Surge Battery Metals Inc. (OTC: NILIF) recently announced encouraging results from its metal exploration project in Nevada, with the discovery of significant lithium deposits comparable to other significant discoveries in the same jurisdiction.
Lithium is an important metal that goes into the making of batteries, with a leading application of lithium batteries being for use in electric vehicles (EVs). This market grew to $178.5 billion in 2021, with global EV sales doubling from 2020 to 2021. EVs are seeing a dramatic increase in popularity in part due to their high efficiency and their lack of carbon emissions.
Surge Battery Metals is looking to develop its lithium exploration targets in an effort to secure itself in both the EV market and the broader lithium battery market. The company’s enterprise is currently focused in Nevada, as this is the state with America’s largest lithium deposits and the country’s only current lithium-producing state.
Delving Deep Into Nevada Mines
Canada-based Surge Battery Metals is a junior metal exploration company that focuses on locating and developing deposits of high-value metals that can be turned to the production of clean energy batteries. The company focuses on the development of nickel and lithium deposits, both of which are vital components of EV batteries, and are seeing a steady increase in demand as the need for EVs outstrips current supplies of battery metals.
Surge’s primary metal exploration target in Nevada, known as the Nevada North Lithium Project, will play an important role for the company as it continues its high-value metal exploration projects. The company has 100% interest in 154 mineral claims in Elk County, Nevada, and has drilled eight exploratory holes to confirm the value of the deposits.
The drilling suggests that the valley has extensive lateral stretches of lithium-rich clay deposits that stretch in bands of about 1,700 meters across, and that may run to a great depth. Some of the reconnaissance drillings produced lithium assay results of up to 5,200 parts per million (ppm), which is exciting news for the company as prices for this energy-dense metal continue to climb. Lithium prices had already surged by 123% in 2022 as of November.
“Our maiden drilling program has identified significant potential for a lithium deposit in an area of northern Nevada not previously recognized for its lithium potential,” said Mr. Greg Reimer, Company President & CEO. “The Company plans to continue work at this exciting new discovery in the months ahead and we are well financed to do so.”
Interested in learning more about Surge Battery Metals? Visit its website.
Surge Battery Metals Inc. is a Canadian based exploration company focused on locating and developing high value deposits of clean energy battery metals that are vital to the rapidly growing electric vehicle (EV) market.
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