Company confirms field geochemical exploration program is advancing on schedule and announces a well-defined spodumene pegmatite boulder train on PL 1597.
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2022) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML"), an international critical mineral exploration and development company, announces field exploration work is advancing on schedule on its North-West Leinster Lithium Project (the "Property" or the "Project"), with a particular focus on Prospecting Licence Area ("PLA") 1597.
PLA 1597 forms part of the Company's Property exploration block, which is operated under an exclusive Option and Earn-in agreement with Technology Minerals Plc*.
Exploration Highlights:
- Field geochemical exploration programs advancing on schedule.
- The first target area in the vicinity of the historical spodumene bearing trench at Knockeen East is being targeted by a closely spaced deep overburden sampling program (Figure 2).
- The area is also undergoing intensive prospecting which is consolidating the extent of the spodumene pegmatite boulder train as well as significantly enhancing the resolution of the dispersion zone and, therefore, the target potential drill target areas. See example of spodumene bearing boulder in Photo 1.
- A total of 46 rock samples and 233 deep overburden samples along with 13 QAQC samples have been collected to date and submitted to ALS Laboratories for analysis.
- Deep overburden sampling and prospecting is continuing across the survey grid area and will migrate to the second target area at Carriglead in due course.
- This work is being carried out to help determine specific areas for follow up drilling.
Target focus PLA 1597
PLA 1597 was identified as prospective for lithium pegmatite potential by the Company's Project partner LRH and its exploration consultants Aurum Exploration Services ("Aurum") following detailed desktop studies, which outlined two proximal areas of spodumene-bearing pegmatite, as reported by previous operators in the mid-1970s. Initial prospecting by the Company confirmed a high grade spodumene bearing pegmatite boulder dispersion train during prospecting survey at two localities (Figure 1). Results from the six samples returned values between 0.70% Li2O to 2.95% Li2O at Knockeen and Carriglead, as previously disclosed by the Company (see news release of October 19, 2022).
* first-listed UK company, with its wholly owned subsidiary LRH Resources Limited ("LRH"), focused on creating a sustainable circular economy for battery metals.
Field Exploration Program Update
The current phase of detailed exploration work is centred on a location described in a 40-year-old historical report describing a trench excavated at Knockeen Townland on PLA 1597 as having uncovered in bedrock a 1.8m wide spodumene-bearing pegmatite dyke. However, no detailed laboratory assays or geological maps of the trench were reported at that time. Historical prospecting around the trench also reported the occurrence of up to 10 large boulders of spodumene bearing pegmatite at surface, some of which may have come from the pegmatite dyke historically intersected in the trench.
The current exploration program is utilizing a well tried and tested geochemical exploration technique called Pionjar or Deep Overburden Sampling. This technique uses equipment to penetrate the soil and glacial till down to the bedrock interface where a sample is collected for analysis. The depth of the sampled material varies between 1m and 5m at Knockeen. This technique is more accurate than sampling the surface soil material as the sample point is closer to the bedrock source of the lithium bearing pegmatites and helps to remove the effects of geochemical dispersion at higher levels in the overburden profile.
The first part of the two-stage program has been carried out on an initial closely spaced grid (Grid 1: Figure 2) over the area of the historical trench on 25m spaced lines with samples collected at 15m intervals or stations. The second stage is in progress, extending westwards following the trend of the spodumene pegmatite boulder train and termed Grid 2. This grid will cover a larger area at 50m line spacing and 30m sample intervals (Figure 2).
The field program commenced mid-October and will continue to late November. A total of 233 deep overburden samples along with 13 QAQC samples have been collected to date and submitted to ALS Laboratories for analysis. Results are pending.
In association with the deep overburden sampling a detailed program of prospecting is also ongoing and to date 46 rock samples have been collected and submitted to ALS Laboratories for analysis. Subject to any delays in the analysis of the samples, the results for the entire program are expected to be returned by the end of 2022.
Once the two grids at Knockeen are completed the team will move to the second target area at Carriglead, two kilometres to the south where a similar historically reported and since verified spodumene pegmatite boulder train has been identified (see Figure 1).
Photo 1: Deep Overburden sampling (top) and newly discovered Spodumene pegmatite samples from Knockeen (bottom)
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Figure 1: Map showing location of prospecting samples at Knockeen and Carriglead
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Figure 2: Deep Overburden Sampling program at PLA 1597
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Please see the Company's NW Leinster Project Overview for additional program details, in addition to the latest version of the Company's Investor Presentation available for download from the GBML website (www.gbml.ca).
Competent Person
All scientific and technical information in this announcement has been prepared under the supervision of EuroGeol Vaughan Williams M.Sc. P.Geo. (a Principal of Aurum Exploration Services, which currently provides exploration services to GBML and to LRH), and a "qualified person" within the meaning of National Instrument 43-101. Vaughan Williams is also company secretary of LRH.
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 five 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; (3) an option to acquire up to a 100% interest in the Lapoile Lithium Project in Newfoundland; (4) an option to lease the Sawyer Camp prospective nickel-copper project in Michigan; 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 (the "Lara Property Option Agreement") with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. The Lara Property Option Agreement also provides for a 0.75% net smelter royalty in favour of GBML.
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
W: www.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 applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, 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 at the North-West Leinster Lithium Property and assay results therefrom. 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 the Company, 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 given the global COVID-19 pandemic, 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. The Company 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.
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