Surge Battery Metals Inc. V.NILI

New StocksToWatch Interview Regarding 2024 Catalysts

[MarketMakerss]

With prices staging a reversal, the bottom may be in for lithium as electric vehicles continue to dominate the green energy transition agenda as seen in Canada with all sales following 2035 mandated to be EVs.

 

Looking ahead to 2024, Surge Battery Metals (NILI.v NILIF) is positioned for significant developments in the market, having made a name for itself in developing its tier-one flagship Nevada North Project with world-class lithium grades averaging ~3-4 times higher than its peers.

 

As discussed in the latest Stocks to Watch interview with NILI CEO Greg Reimer, NILI is on track for a range of catalysts heading into 2024, including a Maiden Resource Estimate to identify the size of the resource as well as metallurgical work to optimize the recovery of lithium from clays, both expected in Q1, as well as a full drill program and PEA expected later in the year: https://youtu.be/1YPvR_HCC4I?si=k0rt_ioiqIq_UnAk

 

Earlier this week, NILI commenced additional mineral processing test work on the 2023 drill samples from Nevada North to determine Li grade, carbonate content, and other chemical parameters, with the end goal to precipitate lithium carbonate from the leach solutions to simulate the full extractive process at a bench scale.

 

The completion of the full test program is targeted for the end of Q1 2024.

 

Notably, initial metallurgical tests on coarse rejects from the 2022 reverse circulation drill samples yielded favourable results regarding acid consumption to separate lithium from the uppermost high-grade clay unit.

 

This follows the release of the first certified assay results from the 2023 core drilling phase which returned results greater than 4000 ppm lithium for samples starting from surface and to depths greater than 175m with the highest-grade assay of 7,630ppm lithium being observed at less than 30m depth.

 

Previous 2023 drilling highlights from NILI's Nevada North Project include:

1) Achieving the highest-grade lithium assays to date with up to 8,070ppm Li,

2) Expanding the known mineralization to ~3km extending 1.5km north

3) Identifying the likely edge of another near-surface claystone horizon

4) Revealing the presence of coarse carbonate minerals that can likely be screened out from lithium mineralization to improve overall metallurgical recoveries.

 

Posted on behalf of Surge Battery Metals Inc.