Surge Battery Metals Inc. (OTC: NILIF) recently reported encouraging results from its metal prospecting project in Nevadawith the discovery of significant lithium deposits comparable to other significant discoveries in the same jurisdiction.
Lithium is an important metal that goes into battery production, with a major application of lithium batteries being used in electric vehicles (EVs). This market grew to 178.5 billion dollars in 2021with global sales of electric vehicles doubled from 2020 to 2021. EVs are seeing a dramatic increase in popularity due in part to their high efficiency and lack of carbon emissions.
Growth battery metals is looking to develop its lithium exploration targets in a bid to secure itself in both the electric vehicle market and the wider lithium battery market. The company’s business is currently focused on Nevadaas this is the state with the largest lithium deposits in America and the only current lithium producing state in the country.
Deep dive into Nevada mining
Canada– based Growth battery metals is a small metal exploration company that focuses on finding and developing deposits of high-value metals that can be turned into clean energy battery production. The company focuses on developing nickel and lithium deposits, both of which are vital components of EV batteries, and is SEEMS a continued increase in demand as the need for EVs exceeds current supplies of battery metals.
Surge’s primary target for metal prospecting in the NevadaKnown as Northern Nevada Lithium Project, will play an important role for the company as it continues its high-value metals exploration projects. The company owns 100% interest in 154 mineral claims in Elk County, Nevadaand has pierced eight research holes to confirm the value of deposits.
Drilling suggests that the valley has extensive lateral extents of lithium-rich shale deposits that extend in belts about 1,700 meters wide and may go to great depth. Some of the discovery drilling yielded lithium assays of up to 5,200 parts per million (ppm), which is exciting news for the company as prices for the energy-dense metal continue to grow. Lithium prices were already increased by 123% in 2022 as of November.
“Our first drilling program has identified significant potential for a lithium deposit in a northern area Nevada previously unknown for its lithium potential,” said Mr. Greg Reimer, President & CEO of the company. “The company plans to continue work on this exciting new discovery in the coming months, and we are well-funded to do so.”
Interested in learning more about Growth battery metals? Visit its website.
Surge Battery Metals Inc. is a Canadian-based exploration company focused on finding and developing high-value deposits of clean energy battery metals that are vital to the fast-growing electric vehicle (EV) market.
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