Lithium Project: San Emidio
The San Emidio Lithium Project’s geologic setting, combined with the presence of lithium in both active geothermal fluids and surface salts within the San Emidio Property, match characteristics of lithium brine and clay deposits at Clayton Valley, Nevada - home to America’s only current lithium production - and in South America.
- Geothermal fluids adjoining the claims are known to contain anomalous lithium values.
- Recently completed sediment sampling showed up to 852 parts per million lithium (mean 365 ppm) while results from two 7-foot auger holes showed lithium concentrations up to 773 ppm.
- Lithium in brine and clay potential of the playa has yet to be specifically studied.
- Recent exploration results are highly encouraging and warrant a detailed exploration drilling for a Clayton Valley type brine and clay deposit.
Lithium Project: Teels Marsh West
The Teels Marsh Lithium Project’s geologic setting, combined with the presence of lithium in nearby active geothermal fluids and surface salts within the Property, match characteristics of lithium brine and clay deposits at Clayton Valley, Nevada –home to America’s only current lithium production.
- In 2016, shallow auger hole sampling resulted in lithium values ranging from 8.0 to 104.5 ppm.
- The two best sample results (93.2 and 104.5) were obtained downstream of thermal springs on the western part of the property.
- Lithium concentrations of up to 850 ppm have been reported from earlier sampling programs by the US Geological Survey (ORF: 76-567) at Teels Marsh.
Nickel Project: British Columbia Nickel Project
The BC Nickel project is comprised of the HN4 Nickel group and the N100 Nickel group. Both HN4 and N100 have confirmed elevated nickel values in soil and rock samples, and highly elevated magnesium content usually greater than 15%MG. HN4 is partially underlain by rocks like those hosting the Decar Project, in which FPX has invested ~$25M to explore & develop to date.
The HN4 Claim Block’s exploration targets are bordering or in close proximity to FPX Nickel Corp.’s Decar Project where their potentially carbon neutral Baptiste deposit has recently been confirmed as one of the world’s most robust large scale nickel projects. The N100 Group of claims has confirmed elevated values of nickel, cobalt and chromium in rocks and stream sediments, and documented presence of awaruite.
- Good access by paved and gravel roads & helicopter.
- Hydroelectric power lines cross the region.
- Inactive CNR rail line short distance to east [Hard Nickel] & BC Rail line ~12 km to south [Nickel 100].
- Work programs in 2021 and 2022 included prospecting, geological mapping, rock soil sampling and a 3 hole diamond drill program from which we await results.
- Exploration programs are awarded to Hardline Exploration of Smithers, BC. Surge Battery Metals filed a 43-101 Technical Report on Nov. 16, 2021.Metallic mineralization includes nickel, cobalt and chromium.
- Some nickel mineralization occurs as awaruite, a naturally occurring nickel-iron alloy first discovered in the area in 1983; awaruite is important in the manufacture of environmentally-friendly EV batteries.
- Reports of exploration on and around the property are available dating back to 1974.
Grab Key Details And Sources Here
Barchart Is Reporting A Multitude Of Triggered Technical Indicators On NILIF
At close on Wednesday, the Barchart website was reporting NILIF to have several triggered technicals.
We're talking a baker's dozen overall. Take a look for yourself:
Short Term Indicators
- 20 Day Moving Average
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Medium Term Indicators
- 50 Day Moving Average
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 50-200 Day MACD Oscillator
Long Term Indicators
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 100 - 200 Day MACD Oscillator
The website also shares its all-important "Trend Seeker" composite indicator is triggered.
Watch these technicals closely this week.
NILIF Has Been All Over The Headlines Recently
#1. Surge Battery Metals Increases the Size of the Nevada North Lithium Project
VANCOUVER, BC / ACCESSWIRE / June 21, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce that the Company has recently increased the size of the Nevada North Lithium Project (NNLP) by staking and filing an additional 60 lode claims located to the east of its claim block. The claim holdings now total 303 mineral claims, encompassing approximately 6060 acres or 2,452 hectares.
Mr. Greg Reimer, Chief Executive Officer, and Director commented, "Over the last several months Surge has completed a strategic expansion of our claim holdings to secure additional land with the potential for expansion of our lithium clay deposit. The Company is planning to conduct detailed soil geochemical surveys this summer with the expectation that additional targets may be identified for follow up drill testing."
Qualified Person as Defined Under National Instrument 43-101
Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.
#2. Surge Closes Second Tranche of Private Placement for Additional $1,800,000 Proceeds and Total Private Placement Proceeds of $7,160,000
VANCOUVER, BC / ACCESSWIRE / June 20, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) announces that it has closed the second tranche of its private placement (the "Private Placement"), announced by way of news release on June 1, 2023. The closing of the first tranche of the Private Placement was announced on June 12, 2023.
The first tranche of the Private Placement closed was for 13,400,000 Units and for proceeds of $5,360,000 and represented a strategic investment in the Company by American Lithium Corp. (NASDAQ: AMLI, TSXV: LI).
The closing of the second tranche of the Private Placement today was for a total of 4,500,000 units (the "Units") and proceeds of $1,800,000.
Mr. Greg Reimer, Chief Executive Officer, and Director commented, "We are pleased to close this second tranche to complete the Private Placement which will assist greatly in funding exploration and development of our Nevada North Lithium Project."
*Original Private Placement PR 6/1/23: Surge Battery Metals Announces $7,160,000 Non-Brokered Private Placement Including a Strategic Equity Investment from American Lithium Corp.
VANCOUVER, BC / ACCESSWIRE / June 1, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce a non-brokered private placement (the "Private Placement") of up to 17,900,000 units (the "Units") at a price of $0.40 per Unit. Each Unit will consist of one common share and one share purchase warrant (the "Warrants"). Each share purchase warrant will be exercisable for a period of three years from the date of issuance at a price of $0.55 per share. The Private Placement may close in tranches.
Mr. Greg Reimer, Chief Executive Officer, and Director commented, "We are excited to have American Lithium Corp. take this position in our company. As a lithium exploration and development company they have considerable expertise in the lithium space, particularly in Nevada. With this investment, Surge continues to build its expertise as we advance our Nevada North Lithium Project."
#3. Surge Battery Closes Acquisition With Grid Battery and Now Owns 100% of Surge Nickel Project
WEST VANCOUVER, BC / ACCESSWIRE / June 14, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge")(TSXV:NILI); (OTC PINK:NILIF); FRA:DJ5C) announces that, further to its news release dated April 3, 2023, (the "Initial News Release") the Company has now closed the "related party" transaction and acquired a 100% interest in the Surge Nickel Project.
As disclosed in the Initial News Release, the Company entered into an Option Agreement with Grid Battery Metals Inc. (formerly "Nickel Rock Resources Inc.") ("Grid") dated March 31, 2023 (the "Agreement"), whereby it was granted the option (the "Option") to acquire the remaining 20% interest in the HN4 and N100 Claims (the "Surge Nickel Project"), located in Northern British Columbia. The Company had previously earned an undivided 80% interest in the Surge Nickel Project. Three of the claims are subject to a 2% NSR, including the HN4 claim and the two southernmost claims of the N100 claim group.
The Company has now exercised the Option by issuing 1,000,000 of its common shares (the "Grid Shares") to Grid and now owns a 100% interest in the Surge Nickel Project.
#4. Surge Battery Metals Announces Expanded Drill Program and Approval to Begin Drilling
VANCOUVER, BC / ACCESSWIRE / June 14, 2023 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) announces that, following geophysical surveys, the Company has amended its drilling program (the "Expanded Drilling Program") to expand it to further delineate the size of the deposit at its Nevada North Lithium Project (NNLP). The Company has received approval from the Nevada Bureau of Land Management (BLM) permitting the Expanded Drilling Program.
Based on the Company's surface sampling, the 2022 drilling results and the recently completed geophysical surveys, the Expanded Drilling Program will use a sonic drill to recover core from as many as 8 sites covering an area measuring 3.0 kilometers north-south by 1.2 kilometers east-west. The Company has contracted with Boart Longyear, a recognized leader in the mining industry, to undertake the 2023 program which is scheduled to begin the first week of July. The Expanded Drilling Program will start to define the lateral and vertical extent of the deposit, in readiness for the full expansion and in-fill drilling program that we can embark on with an approved Plan of Operations.
In addition to extending the Company's knowledge of the deposit on the Nevada North Lithium Project, the drilling will serve to confirm the results of last year's 8-hole reverse-circulation discovery scout drilling program and obtain further samples for engineering and metallurgical testing. It will also be used in the ongoing geostatistical program to determine ideal drill hole spacing and will be the first step to announcing a maiden resource estimate which the Company hopes to complete later this fall.
Mr. Greg Reimer, Chief Executive Officer, and Director, "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. Last year's drilling yielded very encouraging results, with quality-controlled analyses reported as high as 5,950 ppm Li content, and mineralized sections as thick as 374 feet (114 meters). I am extremely pleased with the value we are extracting from each of our exploration and development programs and the progress that we are making as we advance and fast-track this work."
Coverage is officially reinitiated on NILIF. When time permits, do this: