July 14, 2022, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or “GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration and development company focused on growth-oriented battery metal projects, is pleased to announce that it has engaged TonaTec Exploration LLC (“TonaTec”) to drill the Lithium King Property (the “Property”). The Company anticipates TonaTec to be in the field and on site at the Property by the end of the month. The objective of drilling is to confirm the potential at depth of lithium bearing brines in the Soldura Salt flat basin. A 600 m hole is planned.
- 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 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 targeted bedrock formations and brine sampling is needed to confirm the presence of and concentration of lithium in the deeper basin brines.
- Based on the geophysical surveys and historical data, the area underlying the claims is interpreted to be part of a Tertiary basin hosted in a graben structure developed in the Paleozoic basement.. This structural setting is believed to represent a conduit for basinal brine up-flow.
- Earlier this year, 32-line km, over four lines, of ground magnetic was acquired over the claim package and basement/basin boundary. The same lines were then surveyed using ground gravity. The work was done by Quantec and the results were inverted in 2D sections to help with basin interpretation and test well targeting.
In addition, the Company is pleased to announce that, subject to the approval of the TSX Venture Exchange (the “Exchange”), it has engaged Volt Strategic Partners Ltd. (“Volt Strategic“) as its capital markets and communications advisor and has entered into an agreement (the “Agreement“) dated June 10, 2022, with services effected July 5, 2022.
Volt Strategic works with investment professionals and senior business leaders to help grow organizational value, build business, and accelerate market appreciation for emerging technology, battery metals, sustainability, and life sciences public companies.
Pursuant to the Agreement, GBML will remunerate Volt Strategic a monthly fee of $9,000 for various services, including but not limited to capital markets and communications advisory. The Agreement is for a term of one (1) month. After one (1) month, either party may terminate the Agreement with fifteen (15) days’ notice to the other. If not terminated at one (1) month, the Agreement shall automatically renew for a further one (1) month period unless either party to the other delivers written notice of termination at least fifteen (15) days at any time during the term.
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 meters 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 favor of GBML.
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO