Global Battery Metals Receives Drill Permit for Lithium King Property
Vancouver, March 24, 2022 - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML") is pleased to announce that is has received a drill permit on its 100% owned Lithium King property ("Lithium King Property" or the "Property") in Utah.
Highlights:
- GBML has received a drill permit on its 1,760-acre Lithium King Property located within Salduro Salt Flats in Utah
- The Company is currently engaged with drilling companies to determine the most efficient way to drill and sample the brines for the initial target on the Property
- Initial drilling will test the basin brines of the Salduro Salt Flats for lithium content to a depth of between 1,000m to 1,300m
Lithium King Property Update:
Since the acquisition of the Lithium King Property, GBML has completed work in order to target an initial drill hole to test the basin brines of the the Salduro Salt Flats sedimentary basin for lithium content. The compilation of public data together with historical oil well data enabled GBML to establish a preliminary model for the basin stratigraphy. The ground magnetics and gravity data work conducted in 2021 on four lines spanning across the basin boundary and claim footprint helped further refine the depth of basement model. Further 3D interpretation also enabled GBML to identify a local fault system as part of the underlying basement structures - these faults may be conductive for deep basinal brines.
The interpreted stratigraphy of the basin, as taken from historical work, comprises an impermeable layer of volcanic rocks at 200-500m vertically that may separate the basin brines between the upper basin and deeper basin. The lower basin is believed to have higher dissolved metals (i.e., lithium) content as the heavier fluids tend to sink. The initial drill hole is planned to test this hypothesis.
The drilling program will be based on a vertical well that will aim to test the depth of the basement, currently estimated between 1,000m and 1,300m and sample the brines of the sedimentary basin at different depths.
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.
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).
LITHIUM KINGPROPERTY
Figure 1. Lithium King Property
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7080/117782_999b1e1224477af2_004full.jpg
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by William R. Henkle, Jr., a "Qualified Person" within the meaning of National Instrument 43-101.
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 four 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; 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 (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.
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 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, including a proposed drill program to be conducted on the Company's Lithium King Property in Utah, United States. 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. 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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