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The company provides an update on its full portfolio of ongoing projects
Vancouver, British Columbia–(Newsfile Corp. – May 9, 2022) – Global Battery Metals Ltd.(TSXV:GBML) (OTCQB:REZZF) (ESF:GROUND FLOOR) (the “Company” or “GBML“), an international critical mining exploration and development company focused on growth-oriented metal battery projects supporting the global transition to clean energy, today announces that it has engaged Crone Geophysics & Exploration Ltd. to perform a time domain electromagnetic surface study (TDEM) on targets identified at its Camp Sawyer Nickel-Copper Project in Michigan’s Upper Peninsula. TDEM surveys have been used extensively to help locate the accumulation of nickel, copper and other base metals, with survey data being used to inform future drilling program targets. GBML expects to be in the field by mid-June.
“GBML is pleased to begin field exploration work at our Sawyer Camp project, as it shares similar characteristics with other nearby properties that are in production, including the Eagle Mine,” said Michael Murphy, President and CEO of GBML. “Our plan is to mobilize quickly with Crone. The company is testing for the presence of Eagle-type nickel sulphide deposits beneath the Paleozoic cover, allowing us to focus on exploration targets and drill hole locations. during this current field season.”
Additionally, the company is also pleased to provide a progress report on each of its other potential battery metal projects – all expected to progress over the coming month.
Major updates include:
- Lithium King (Lithium), Utah – the Company expects to obtain the BLM drilling permit in the near future to assess the stratigraphy and depth of the basement and will update the market accordingly. The jurisdiction and size of the project remain attractive as shallow sampling suggests favorable grade potential.
- NW Leinster (Lithium), Ireland – a new exploration permit is expected shortly with the immediate priority of identifying a drill target on the Aghavannagh prospect where large angular blocks of spodumene pegmatite (float) have returned promising economic grades of Li2O. A work plan for this program and others across the block will be shared shortly thereafter.
- Lapoile (Lithium), Newfoundland – GBML will enter the field this summer for the first exploration and geological mapping work. Government till samples are higher here than neighboring properties already experiencing exploration success.
- Lara (Copper), Peru – 55% owned by GGML; an option was granted to Minsur (a large private Peruvian mining company operating a nearby copper mine) with staggered acquisition payments, of which the first two payments have already been made. Minsur continues to work on the property, with GBML retaining a 0.75 pbt royalty.
“For years, Global Battery Metals has actively built a core group of projects to support clean energy demand for the critical minerals we know today,” Murphy continued. “All of these properties are now on the verge of coming into place and we intend to be much more engaged by investors throughout 2022 given what we have in our pipeline of opportunities.”
An updated version of Presentation to the company’s investors is now available for download from the GBML website.
About Global Battery Metals Ltd.
GBML is an international mining exploration and development company focused on metals that understands and supports the rapid evolution towards battery power. GBML currently holds economic interests in five battery metal projects: (1) a lease option to facilitate exploration of the Sawyer Camp Ni/Cu property in Michigan’s Upper Peninsula region, (2 ) an option to acquire up to a 90% interest in the North-West Leinster lithium property in Ireland, (3) a 100% interest in the Lithium King property in Utah, (4) an option to acquire up to 100% interest in the Lapoile lithium project in Newfoundland, and (5) a 55% interest in the Lara copper property in Peru, which has over 10,000 meters of drilling. As previously reported, Minsur SA, a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the copper property from Lara in installment payments of US$5.75 million. GBML will retain a net smelter royalty of 0.75%. The common shares of GBML are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are listed on the OTC (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President and CEO
Such. : 604-649-2350
E: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution regarding “forward-looking” information
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of Canadian securities laws. All statements, other than statements of historical facts, included herein, without limitation, statements relating to GBML’s future operations and activities, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions or statements. that events, conditions or results “will”, “could”, “might” or “should” occur or be achieved. The forward-looking statements contained in this press release relate to, among other things, the Company’s exploration plans, the receipt of necessary permits and the commencement of field exploration work. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect beliefs, opinions and projections as of the date the statements are made and are based on a number of assumptions and estimates which, while considered reasonable by GBML, are inherently subject to change. important commercial, economic, competitive, political and social uncertainties. and contingencies. Many factors, known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements that are or may be expressed or implied by these forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. These factors include, but are not limited to, the ability to complete the proposed exploration work, the possibility of accidents, and other risks associated with mining exploration operations, such as encountering unforeseen geological factors or the inability to obtain permits and other government approvals necessary to carry out the Company’s exploration activities. plans, exploration results, continued availability of capital and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this press release regarding these items. Readers are referred to the Company’s reports, which are publicly available through the Canadian Securities Administrators’ Electronic Document Retrieval System (SEDAR) at www.sedar.com for a more comprehensive analysis of these risk factors and their potential effects. GBML undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123124