NILI.v Gears Up for 2nd Round of Drilling at Nevada North The global demand for electric vehicles (EVs) has ignited an unprecedented interest in battery metals. With this, Canadian-based mineral exploration company, Surge Battery Metals Inc. (Ticker: NILI.V or NILIF for US investors), is actively engaged in exploring high-value battery metals essential for the thriving EV market.
One of the company's most promising ventures is the Nevada North Lithium Project, where Surge owns a 100% interest in 303 mineral claims, strategically located in the Granite Range southeast of Jackpot, Nevada.
The initial drilling phase conducted at Nevada North in October 2022 yielded remarkable outcomes, unveiling a significant expanse of lithium-rich clays that stretched across roughly 1,620 meters. Notably, the average content within all the near-surface clay zones intersected (applying a 1000 ppm cut-off) measured at an impressive 3254 ppm lithium.
The favorable results significantly impacted NILI's share price, with the company's share price rising by 121% in the past 6 months alone.
Today, NILI shared that drilling equipment and crews are being mobilized to Nevada North to conduct a second round of drilling at Nevada North. This new program is expected to encompass a more extensive footprint and deeper exploration.
Greg Reimer, President, and CEO of NILI, expressed enthusiasm about the upcoming drilling campaign, stating, "The Surge team is very keen to follow up on the exciting results of our previous drilling campaign to further expand and define the mineralization in readiness to announce a resource in the fourth quarter."
NILI's exploration and development plans are well funded with the company currently having over $9.5 million in the treasury. This ample funding will aid in further defining and extending the footprint, depth, and thickness of the lithium-clay mineralization, positioning the company for continued success in the battery metal sector.
Full press release: https://surgebatterymetals.com/surge-battery-metals-announces-drilling-is-set-to-commence-at-its-nevada-north-lithium-project/Posted on behalf of Surge Battery Metals Inc.