Surge Battery Metals Inc: Securing Future Potential with Strategic Mineral Rights Acquisitions?

Surge Expands Mineral Property Portfolio with Wilkins Family and Y3-II Agreements

Surge Battery Metals Inc. (TSXV: NILI, OTC: NILIF, FRA: DJ5C) has concluded the acquisition of a significant interest in mineral rights encompassing approximately 880 acres of private lands within its NNLP Project. On October 3, 2023, Surge entered into two mineral property purchase agreements. The first, known as the Wilkins Family Agreement, saw the company acquire a 21. 25% interest in the mineral rights, now finalized with the issuance of 1,250,000 shares and a payment of USD$50,000 to the Wilkins Family. These shares, termed the "Wilkins Shares," are subject to an Exchange hold period and cannot be traded until April 1, 2024.

Y3-II Agreement Closure

The second agreement, the Y3-II Agreement, secured an additional 3.

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75% interest in the mineral rights and has been successfully concluded. The completion involved issuing 300,000 shares termed as the "Y3-II Shares," subject to the same Exchange hold period until April 6, 2024.

Strategic Holdings Consolidation

With the closing of both the Wilkins Family and Y3-II Agreements, Surge now exercises control over 25% of the mineral rights within the NNLP, further solidifying its presence in the region.

Insight into Surge Battery Metals Inc.

Surge Battery Metals Inc. , headquartered in Canada, primarily trades on the TSX Venture Exchange in Canada and the OTCQX Market in the US. The company specializes in mineral exploration in Nevada, with a keen focus on lithium, a critical component for the burgeoning electric vehicle (EV) market.

The Nevada North Lithium Project: A Prime Focus

The Nevada North Lithium Project, owned by Surge, is situated in the Granite Range southeast of Jackpot, Nevada. The initial round of drilling conducted in October 2022 unveiled a highly mineralized zone of lithium-bearing clays spanning approximately 1,620 meters in length. The widths of these mineralized horizons, supported by soil values, indicate potential for significant expansion.

2023 Drill Program and Prospects

The 2023 drill program, completed recently, aims to extend the known lithium-rich clay zone from 1,620 meters to over 3,500 meters in length and expand the width from the earlier estimated 400 meters to 950 meters. Initial assay results from this year’s drilling displayed promising lithium concentrations, with the first hole revealing a maximum of 8,070 ppm lithium and an average of 4,067 ppm lithium at a 1,000 ppm cut-off (as per the September 12, 2023, news release).

Surge Battery Metals anticipates the assay results to provide essential insights into the potential scale and viability of lithium extraction within the Nevada North Lithium Project, crucial for their strategic endeavors in the rapidly evolving battery metals market.

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