Company Provides Corporate Update on Full Portfolio of Projects Underway
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2022) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML"), an international critical mineral exploration and development company focused on growth-oriented battery metal projects supporting the global transition to clean energy, today announces it has contracted Crone Geophysics & Exploration Ltd. to complete a surface Time Domain Electromagnetic (TDEM) survey over targets identified at its Sawyer Camp Nickel-Copper Project in the Upper Peninsula of Michigan. TDEM surveys have been used extensively to aid in locating nickel, copper and other base metals accumulation, with survey data being used to inform drill program targets moving forward. GBML anticipates being in-field by mid-June.
"GBML is excited to commence field exploration work at our Sawyer Camp Project, as it shares similar characteristics to other nearby properties that are producing including Eagle Mine," stated Michael Murphy, President and CEO of GBML. "Our plan is to mobilize with Crone quickly. The Company is testing for the presence of Eagle-style nickel sulphide deposits under Paleozoic cover, allowing us to zero in on exploration targets and drill hole locations during this current field season."
Additionally, the Company is also pleased to provide a progress report on each of its other battery metal prospective projects - all expected to advance over the coming month.
Key updates include:
- Lithium King (Lithium), Utah - the Company anticipates securing the BLM drill permit soon to evaluate stratigraphy and basement depth and will update the market accordingly. The project jurisdiction and size remain appealing as shallow sampling suggests favourable grade potential.
- NW Leinster (Lithium), Ireland - a new exploration permit is expected shortly with the immediate priority of identifying a drill target at the Aghavannagh Prospect where large angular blocks of spodumene pegmatite (float) has returned promising economic grades of Li2O. A work plan for this and other programs across the block will be shared soon after.
- Lapoile (Lithium), Newfoundland - GBML will be getting into the field this summer for initial exploration and geological mapping work. Government till samples are higher here than nearby properties already experiencing exploration success.
- Lara (Copper), Peru - 55% owned by GGML; an option was granted to Minsur (a large, private Peruvian mining company operating a nearby copper mine) with staged acquisition payments, of which the first two payments have already been made. Minsur continues to work on the property with GBML retaining a 0.75bpt royalty.
"For years, Global Battery Metals has been actively building a core group of projects to support the clean energy-driven demand for critical minerals that we're now experiencing," continued Mr. Murphy. "All of these properties are now close to falling in place and we intend to be much more investor-engaged throughout 2022 given what we have in our opportunity pipeline."
An updated version of the Company's Investor Presentation is now available for download from the GBML website.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in five battery metal projects: (1) an option to lease agreement to facilitate exploration of the Sawyer Camp Ni/Cu Property in the Upper Peninsula region of the State of Michigan, (2) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland, (3) a 100% interest in the Lithium King property in Utah, (4) an option to acquire up to a 100% interest in the Lapoile lithium project in Newfoundland, and (5) 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. GBML's common shares are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC (OTCQB: REZZF).
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 news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of GBML, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans, obtaining necessary permits and commencement of field exploration work. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by GBML are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work, the possibility of accidents and other risks associated with mineral exploration operations such as encountering unanticipated geological factors or the inability to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are 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. GBML does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123124
