Drill Site Development Underway at Lithium King Claim Expansion in Utah; GSRO Approves All Expansion Licences at Leinster Lithium Project in Ireland
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2024) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML" or "Global Battery Metals"), an international critical mineral exploration company focused on growth-oriented lithium, copper and battery metal projects, is pleased to provide a status update on current project activity.
Key Highlights:
Lithium King Project, Utah, USA - Drilling plans continue to advance, with the successful acquisition of additional strategic claims now staked north of the original property. The new claims will facilitate weather-agnostic drilling between the service road and the highway, effectively bypassing flood-zones. Alloy Drilling LLC of Elko, Nevada, and Escalante Geological Services LLC of Salt Lake City, Utah, have been engaged to assist with drill hole planning. The project area is situated directly adjacent to neighbouring Intrepid Potash, which recently announced lithium concentrations at over 1,500 parts per million in its final by-product brine.
Leinster Lithium Project, Ireland - Further to its December 13, 2023 land expansion press release, the Company reports that Ireland's Geoscience Regulation Office (GSRO) has approved the option to acquire all six of the previously announced contiguous licenses, covering an additional 249 km2 adjacent to the Knockeen Lithium Pegmatite Project and more than quadrupling GBML's southern license land position. In total, the full Leinster Lithium Project footprint now comprises 22 mineral claims covering approximately 775 km2 and is situated along strike to nearby Blackstairs Lithium's Avalonia Project (297 km2 joint venture between Ganfeng Lithium Co. Ltd and International Lithium Corp.). Several target areas have been identified and a new series of prospecting activity is being planned.
Lara Copper Project, Peru - GBML's 55 percent-owned Peruvian subsidiary, Minas Dixon, is aware that its option partners are planning a material work program this year to help advance environmental study approval efforts, in line with GBML's third option payment milestone. While Minas Dixon has optioned the property for acquisition, it retains a 0.75% net smelter return royalty on the property.
"We see a lot of near-term growth opportunity across our 2024 project pipeline, which will include Lithium King exploration," said Michael Murphy, CEO of Global Battery Metals. "Intrepid's recent lithium resource announcement has certainly dialed up interest in this area and we absolutely wish them well with these pursuits. We see Utah's unique geography and natural lithium deposits providing domestic supply potential to help meet North America's future demand and we aim to be part of this solution."
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on lithium, copper and other metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in three battery metal projects: (1) an option to acquire up to a 90% interest in the Leinster Lithium Property and drill program currently underway in Ireland; (2) a 100% interest in the drill-ready 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 return royalty. GBML's common shares are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd. Michael Murphy BA, MBA, MSc., ICD President & CEO T: 604-649-2350 E: [email protected] W: www.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 to 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, exploration plans for the Company's various projects. 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 exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions, and the receipt of any required governmental approvals for continued exploration. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's reports for a more complete discussion of such risk factors and their potential effects, publicly available at SEDAR+, the Canadian Securities Administrators' national system that all market participants use for filings and disclosure, at www.sedarplus.ca. 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.
