Global Battery to Commence Ground Gravity and Ground Magnetics Surveys
Vancouver, May 5, 2021 - Global Battery Metals Ltd. (TSXV: GBML) (FSE: REZ) (OTCQB: REZZF) (the "Company" or "GBML") is pleased to announce that it has signed a contract to initiate ground gravity and ground magnetics data collection at its Lithium King Property in Utah. Quantec Geoscience Ltd., a Canadian company based in Toronto, has been engaged to complete the work. Crews are expected in the field this week, with the work expected to take approximately two weeks.
Michael Murphy, President and CEO, commented: "We are very excited to begin work on our 7,900 acre Lithium King Property in Utah. The results from this program will help shape a drill program slated to begin this summer and targeting lithium brines within the Pilot Valley Basin. With lithium prices continuing to increase as a result of a continued push for a greener economy, GBML is well positioned to benefit from our portfolio of battery metals projects."
The surveys will be conducted on three northwest-southeast lines across the property area plus a further northwest-southeast line at the basement margin of the Pilot Valley Basin. The objective of the program is to image the depth to basement and location of possible faults in the vicinity of the property.
The interpretation from the gravity and magnetics data will help the Company plan the initial exploratory drill hole with the objective to evaluate the potential for lithium bearing brines in the Pilot Valley Basin. GBML is in discussions with drilling contractors and is aiming to commence drilling this summer in July 2021.
Supplemental Disclosure
The Company would also like to supplement the disclosure in its press release dated February 25, 2021 regarding the digital marketing services agreement (the "Agreement") that it entered into with Nerve Centre Marketing Ltd. ("Nerve Centre"). Nerve Centre was launched in 2021 by co-founders Alex Heath and Dustin Zinger to provide strategic and capital markets advisory services to private and publicly traded companies. Nerve Centre and its co-founders are both arm's length from the Company; however, Nerve Centre's co-founders hold an aggregate of 1,416,667 shares and 1,416,667 warrants of the Company.
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.
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 ground gravity and ground magnetics surveys to be conducted on the Company's Lithium King Property in Utah. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82893
