In This Article:
Plans Underway for Electromagnetic Surveying
Vancouver, British Columbia--(Newsfile Corp. - May 24, 2022) - Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML"), is pleased to announce it has been granted four Surface and Mineral leases, covering 1,609 acres (6.5 square km) in the State of Michigan. The area covered by these state leases is in addition to the Company's land package associated with the Sawyer Camp (which is a combination of state and private leases). GBML's total property interest in Michigan is now approximately 3,800 acres (15.4 square km).
The state leases applied for in October of 2021 (see the Company's news release dated October 8, 2021) cover two primary airborne magnetic targets (one normally polarized and one reversely polarized), as identified from a 2021 United States Geological Survey over parts of the Upper Peninsula of Michigan. The magnetic features may be related to mafic and ultramafic intrusions associated with the Mid-Continent Rifting (MCR) event, similar to the characteristics associated with GBML's Sawyer Camp Nickel-Copper Project and the Eagle Mine Nickel-Copper-PGE mine operated by Lundin Mining.
"Our research of the opportunities in the area has resulted in some promising targets and the granting of the four state leases to GBML is consistent with our plans for further exploration work at Sawyer Camp," stated Michael Murphy, President and CEO of GBML. "Theses leases have discovery potential for nickel, copper and platinum group mineralization and, while the geology is obscured by glacial till and Paleozoic cover rocks, historic drilling has encountered mafic-ultramafic rocks sequences similar to those hosting the Eagle Mine."
The Company is currently developing plans to engage a geophysical contractor to conduct an electromagnetic survey over these new targets that will be utilized to guide initial drill targeting. The contractor has already been engaged to conduct similar work on the Sawyer Camp.
An updated version of the Company's Investor Presentation is now available for download from GBML's website.
Scientific and Technical Information
The scientific and technical information disclosed in this news release was reviewed and approved by Cameron Bell, MSc., P. Geo., a director of the Company and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in five battery metal projects: (1) an option to lease agreement to facilitate exploration of the Sawyer Camp Ni/Cu Property in the Upper Peninsula region of the State of Michigan, (2) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland, (3) a 100% interest in the Lithium King property in Utah, (4) an option to acquire up to a 100% interest in the Lapoile lithium project in Newfoundland, and (5) 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 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 (OTCQB: REZZF).