Surge Battery Metals Inc. V.NILI

New 52 weeks highs! Now up 520% in 6 months

[MarketMakerss]

Surge Battery Metals (NILI.v NILIF) hit new 52-week highs again following a 520% run in the past 6 months having recently released its highest grade lithium assays to date with up to 8070ppm lithium in the first 2023 hole at its Nevada North Lithium Project: https://surgebatterymetals.com/surge-announces-highest-grade-lithium-assays-to-date-with-up-to-8070-ppm-lithium-in-the-first-2023-hole-at-nevada-north-lithium-project/

Spanning ~5,180 total hectares, NILI's Nevada North Project is a rare, high-grade lithium clay discovery with world-class lithium grades averaging ~3-4 times higher than its peers

Multiple high-value zones ranging from 1,000ppm to 8070ppm lithium within 4 horizons were returned from the first certified analytical results for the summer 2023 drilling program at Nevada North.

With an overall average grade of 4,067ppm Li and an overall composite grade of 4,939 ppm Li, 8070ppm lithium was the standout highlight from these results, representing a 28% increase in weighted average composite grades compared to NILI's 2022 drill program.

Mr. Greg Reimer, Chief Executive Officer, and Director commented,

"With lithium values up to 8070 ppm we are excited with the results from our first drill hole of the 2023 season. These results confirm and improve on results from our initial 2022 reverse circulation drilling campaign. We plan on expanding on the NN2301 results with further diamond drilling and look forward to receiving and reporting these results and additional holes in the coming weeks as we complete this summer's drilling campaign."

The results from NILI's previous drill program showcase the immense growth and discovery potential at Nevada North as one of the 8 holes previously drilled outperformed all of the 300+ holes drilled at LAC's Thacker Pass, the largest North American lithium project with 3.6Mt @ 3,160ppm P&P.

With the potential to increase its resource target to 4-6Mt LCE, NILI is focused on advancing its Phase 2 program at Nevada North and is expected to release an MRE in November, followed by a range of upcoming catalysts expected to result in significant re-rating potential in the next 12 months as more results ahead of the PFS in the next 24 months.

For more information, refer to Sprott's SCP Equity Research Coverage Report emphasizing a BUY rating and $2.30 target for NILI (Calculated prior to these latest drill results): https://bpd-space.nyc3.cdn.digitaloceanspaces.com/scp/230905-scp-nili-initiation.pdf

Posted on behalf of Surge Battery Metals Inc.