Drilling Now Underway at Knockeen Prospect
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2023) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML" or "Global Battery Metals"), a critical mineral exploration company focused on growth-oriented lithium and battery metal projects, is pleased to announce the commencement of its multi-stage diamond core drilling program (the "Drill Program") at the Leinster Lithium Project (the "Project") in County Carlow, Ireland. This inaugural Drill Program has been approved for up to 10 drill holes.
Phase 1 drilling is focused on Prospecting License Area 1597 (the "Knockeen Prospect") and will comprise four drill holes for approximately 1,000 metres of diamond core drilling. The drilling will take place across previously announced prospective lithium pegmatite trend targets which includes the historically reported trenched bedrock occurrence which is coincident with several highly anomalous LCT Pegmatite (lithium-cesium-tantalum pegmatite) geochemical trends. This, in conjunction with the broad spodumene pegmatite boulder train at surface, has been interpreted to indicate the presence of up to six potential dikes.
The Drill Program has received all necessary government approvals through the Geoscience Regulation Office (GSRO) which covers all aspects of environmental best practice procedures. This is carried out through the detailed Appropriate Assessment Screening Programme which was approved in April.
"Europe and the US are both pushing for lithium independence and continue to seek out viable parties that can deliver the full package - future access to high-grade domestic lithium supplies through partners that understand and appreciate all of the geopolitical and commercial considerations at stake," said Michael Murphy, CEO of Global Battery Metals. "This will most definitely include battery metal companies operating in the junior mining space that can execute against resource delivery and relationship management with equal intensity. We look forward to continued progress at Leinster and with the associated business discussions all underway."
The results of Phase 1, including all metallurgical testing and other exploration activities completed during this time, will be used to inform Phase 2 drilling. As previously noted, significant sampling and mapping across the Knockeen Prospect was conducted in recent months, with the potential discovery of up to six LCT pegmatite dikes (see March 20, 2023, press release) and the most recent assay results of 66 rock samples released by ALS Laboratories returning Li2O% lithium contents ranging up to 3.75 % Li2O / 17,000 ppm Li (see January 18, 2023, press release).
For additional program details, please see the Company's Leinster Project Overview 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 and reviewed and approved by EuroGeol Vaughan Williams M.Sc. P.Geo. (Principal of Aurum Exploration Services currently providing exploration services to GBML and to LRH Resources Limited ("LRH")), a "qualified person" within the meaning of National Instrument 43-101. Vaughan Williams is also company secretary of LRH.
The Knockeen Prospect forms part of the Project exploration block, which is operated under an exclusive option and earn-in agreement with Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, and its wholly owned subsidiary LRH.
About the Leinster Lithium Project
The Project, located in the counties of Wicklow and South Carlow, in the Republic of Ireland, is a lithium pegmatite project that consists of 16 prospecting license areas located SW of Dublin and in direct proximity to the joint venture Ganfeng Lithium / International Lithium Corporation Blackstairs Lithium Project. Lithium mineralization has been confirmed across all Project areas explored to date, with the potential discovery of up to six LCT pegmatite dikes and assay results of 66 rock samples released by ALS Laboratories returning Li2O% lithium contents ranging up to 3.75 % Li2O / 17,000 ppm Li at the Knockeen Prospect. The Project's maiden Drill Program is permitted for up to 10 drill holes, with Phase 1 drilling now underway.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on lithium and other metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in four battery metal projects: (1) an option to acquire up to a 90% in the drill-ready Leinster Lithium Property in Ireland; (2) a 100% interest in the drill-ready Lithium King Property in Utah; (3) an option to acquire up to a 100% interest in the La Poile Lithium Project in Newfoundland; and (4) 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 Markets (OTCQB: REZZF).
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 Leinster Lithium Project, including the Drill Program. 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, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions, and the receipt of any required regulatory approvals. 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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