100% Land Position Increase at Nevada North Lithium Project Surge Battery Metals Inc. (NILI.v or NILIF for US investors) is trading up after announcing yesterday that it has doubled its land position at its Nevada North Lithium Project, putting it up 115% over the last 6 months.
NILI did this through staking as well as making a mineral property option and joint venture agreement with M3 Metals Corp. This agreement grants NILI the option to earn up to an eighty (80%) percent interest in the M3M Lands through various option payments.
Full press release: https://surgebatterymetals.com/surge-battery-metals-announces-100-increase-in-land-position-at-nevada-north-lithium-project/
Additionally, a Sprott Analyst visited Nevada North and provided their initial site visit takeaways.
The key observations include:
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The initial drilling results showed potential for a significant lithium resource, with estimated Scalable Claystone Lithium between 2.7 to 3.4 million tonnes of lithium carbonate equivalent (LCE) at 3,369ppm, comparable to LAC's Thacker Pass project
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The grade of lithium found is 2 to 3 times higher than its peers, along with positive early metallurgical results and geological characteristics that make this discovery stand out
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No major permitting red flags have been identified at this stage, and detailed Environmental Assessment work is ongoing.
Overall, the analyst emphasizes the strength of the team leading the project, with experienced executives from the former Millennial Lithium team, who successfully executed a significant lithium discovery and acquisition by LAC for US$490m.
The analyst believes that the combination of a proven team and a substantial lithium discovery could result in a fast closing of the valuation gap with reserve peers (LAC, Ioneer, American Li), especially with the anticipation of further successful drill results.
More here: https://ceo.ca/nili?dccace821247 Posted on behalf of Surge Battery Metals Inc.