Vancouver, British Columbia--(Newsfile Corp. - September 17, 2021) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML") is pleased provide an update on its Lithium King property (the "Lithium King Property") in Utah.
Lithium King Property Update:
- The Company has renewed leases on 88 claims covering a total area of 1,760 acres.
- The claims cover geologically significant features such as basement high and local graben fault structures believed to allow up-flow of lithium bearing fluids from deeper basinal brines.
- Early exploration was conducted by covering the claim area with ground magnetic and gravity surveys.
- Work completed since project acquisition in March 2021 has identified ideal locations for initial well test drill holes.
- McKay Mineral Exploration, LLC has been hired to assist in the drill permit application.
Michael Murphy, President and CEO, commented "Our work to date on the Lithium King property continues to support our thesis of the potential for the discovery of a significant lithium bearing brine aquifer. Our work will focus on a key fault structure that is interpreted to allow up-flow of lithium bearing fluids. With the engagement of McKay Minerals Exploration, LLC, we look forward obtaining a drill permit before year end."
Summary of Work Completed on the Lithium King Property
The Lithium King property was identified by the Company in 2020 and the project area was staked in the first quarter of 2021.
Historical Lithium values from 39 shallow USGS wells (25 feet) averaged 244 parts per million (ppm) and ranged from a low 49 ppm to a high of 1,200 ppm. The Lithium King property is within the Great Basin of the Western United States, where lithium concentrations of greater than 10 ppm in brines are anomalous. Lithium values from the only lithium production in the United States, in Clayton Valley, Nevada, also in the Great Basin, range from 75 to about 250 ppm.
Magnesium values at the property and near vicinity range between 1,300 and 8,500 ppm.
The shallow aquifer water samples may not reflect the deeper basin below 25 feet depth. Drilling to bedrock and brine sampling is needed to confirm the presence of and concentration of lithium in the deeper basin brines.
Based on the geophysical surveys and historical data, the area underlying the claims are interpreted to be part of a regional basement high with local graben structures. This structural setting is believed to represent a conduit for basinal brine up-flow.
Earlier this year, 32-line km, over four lines, of ground magnetic was acquired over the claim package and basement/basin boundary. The same lines were then surveyed using ground gravity. The work was done by Quantec, and the results were inverted in 2D sections to help with basin interpretation and test well targeting.
Based on this work, four initial test well targets have been identified within the claim block.
Lithium King Property Description
The Lithium King Property is located on the west side of the Great Salt Lake Basin in western Utah, adjacent to the community of Wendover, Utah. The land position consists of approximately 1,760 acres of placer claims. The property has the potential to host a lithium and magnesium brine deposit in an existing mineral producing location in a mining-friendly state (see Company news release from March 4, 2021 for detailed project review).
Figure 1. Lithium King Property
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7080/96785_figure1gbm.png
Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements and has been reviewed and approved by Jean-Philippe Paiement, P Geo. a "qualified person" within the meaning of National Instrument 43-101. Jean-Philippe Paiement has 15 years experience in the exploration industry applied to Li mineralization modelling and resource definition.
About Global Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange and Frankfurt Stock Exchange and quoted on the OTCQB. GBML currently has three projects: (1) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland, (2) a 100% interest in the Lithium King property in Utah, and (3) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter royalty.
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to a drill program to be conducted on the Company's North-West Leinster lithium property in Ireland. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
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