Grid Battery Metals Announces the Fourth Phase of the Nickel COQUITLAM, BC / ACCESSWIRE / January 10, 2024 / Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce that the National Instrument 43-101 Technical Report for the Nickel Project, dated December 4, 2023, in the Takla Lake Area, BC and prepared by Jeremy Hanson, P.Geo. (the "Technical Report") has been filed on SEDAR+ (www.sedarplus.ca) and can be obtained on the Company's website at gridbatterymetals.com/nickel-project. As a recap, the third phase of our BC Nickel exploration program was completed in 2023 and included a detailed sampling, trenching and initial drilling program.
The proposed exploration budget of approximately CAD$200,000 follows a recommendation contained within the Technical Report. Within this exploration plan, funds have been allocated for exploration work that includes field work on all three claim blocks targeting historic results, vectoring towards elevated DTR Ni, and sampling and mapping of untested magnetic anomalies.
Grid's wholly-owned subsidiary, AC/DC Battery Metals Inc. ("AC/DC"), will carry out the proposed fourth phase exploration plans in 2024. This exploration program will take place following Grid's proposed subsidiary Spin-out plan originally announced on September 28, 2023. As part of the proposed Grid Spin-out plan, current Grid shareholders will receive a common share dividend in AC/DC shares representing a proportionate value in this new public company. This overall transaction is proposed to give our shareholders a bonus - a share in another public company for no additional cost. In order to fund its operations going forward, AC/DC also plans to complete a private placement financing as part of the overall transaction.
https://www.accesswire.com/823423/grid-battery-metals-announces-the-fourth-phase-of-the-nickel-exploration-program-in-british-columbia