News

Global Battery Metals Acquires Lithium King Property in Utah

March 4, 2021

(Vancouver, British Columbia, March 4, 2021) -  GBML Battery Metals Ltd. (TSXV: GBML) (FSE: REZ) (OTCQB: REZZF) (the "Company" or "GBML") is pleased to announce, that through the staking of federal placer claims, it has acquired the property area known as the Lithium King property (the "Lithium King Property" or the "Property").

Lithium King Property Highlights:

  • Prospective lithium bearing brine aquifer located on the west side of the Great Salt Lake Basin in western Utah.
  • The land position consists of approximately 7,900 acres (3,200 hectares) of placer claims.
  • Excellent infrastructure: Interstate Highway I-80 runs through the Property.
  • Adjacent to active brine mining operation.
  • Mining friendly jurisdiction.

Michael Murphy, President and CEO, commented: "We are very excited to have added the Lithium King Property to our growth-oriented portfolio of battery metals projects. Samples from the Property have recorded positive lithium values, with excellent access from Interstate Highway 80, which runs beside the Property. We look forward to rapidly advancing this Property, beginning with digitizing historical data, water sampling, modelling, and ultimately leading to drill testing."

Lithium King Property Overview

The Lithium King Property is located on the west side of the Great Salt Lake Basin in western Utah, adjacent to the community of Wendover, Utah. The land position consists of approximately 7,900 acres (3,200 hectares) of placer claims.

The Property has the potential to host a lithium, and magnesium brine deposit in an existing mineral producing location in a mining-friendly state.

Figure 1. Lithium King Property

The lithium and magnesium on the Lithium King Property are present as dissolved salts in a large surface brine aquifer, which is believed to be derived from both surface erosion of lithium-rich rhyolites (as part of the Pilot and Toano Ranges) and mineral-rich geothermal brine flows into the basin sediments from deep seated faults underlying the 20-mile-long basin.

Lithium values from several samples from 39 shallow wells (25 feet) averaged 244 parts per million (ppm) and ranged from a low 49 ppm to a high of 1,200 ppm. The lithium values from these wells are set out in Schedule A. (See also United States Geological Survey Data Base: Produced Waters, Volume 2.2n.xlsx, available in the Utah Geological Survey files.) The Lithium King 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. (PC - W. R. Henkle, Jr.).

Figure 2. Property looking north towards Pilot Peak

Magnesium values at the Property and near vicinity range between 1,300 and 8,500 ppm (see United States Geological Survey Data Base: Produced Waters, Volume 2.2n.xlsx, available in the Utah Geological Survey (USGS) files, and Selected Ground-Water Data, Bonneville Salt Flats and Pilot Valley, Western Utah, Utah Basic-Data Release No. 30, United States Geological Survey).

The shallow aquifer water samples (as per USGS sampling) may not reflect the deeper basin below 25 feet depth. Drilling to bedrock and brine sampling is needed to confirm the presence of and concentration of lithium in the deeper basin brines.

In addition to the large surface brine aquifer, several deeper, thick, porous clastic horizons are present. These horizons were identified by inspection of the drill logs from the Shell-Salduro oil exploration well which was drilled just west of the Property boundary. The historical drill logs identified this deep sequence of aquifers (greater than 70% volcanic conglomerates) at the basin bedrock contact, at a depth of between 1,350 and 2,650 feet, beneath 1,300 feet of impervious, clay-rich sediments. They provide posited permeable reservoirs for large quantities of what are thought to be higher value brines (undiluted by meteoritic water). Because of the moderate target depths, both exploration and production drilling could be undertaken with conventional hard rock drilling equipment and should not require oilfield tools.

The lithium and magnesium anomalous area overlies basement faulting identified by geophysical surveying and confirmed by oil and gas drilling records (the logs of the Shell-Salduro oil exploration well located in the Property vicinity, are public information, maintained by the Utah Dept. of Oil, Gas and Mining). The geothermal fluids which are thought to be sourced from the underlying faults are believed to be the primary source of mineralization. This is supported by: (1) the U.S. Geological Survey observation that, despite the presence of an industrial minerals extraction operation in an adjacent area for many years, there has been no depletion of mineral values as would be expected if the recharge to the aquifer was from meteoric waters (USGS Professional Paper # 1585); and (2) water temperatures are elevated over the highly mineralized area (see Selected Ground-Water Data, Bonneville Salt Flats and Pilot Valley, Western Utah, Utah Basic-Data Release No. 30, United States Geological Survey and, United States Geological Survey Data Base: Produced Waters, Volume 2.2n.xlsx, available in the Utah Geological Survey files).

Work Program

To assess the lithium potential of the basin brines on the Lithium King Property and subject to the receipt of any required drilling permits, GBML expects to conduct the following work:

  1. Locate and digitize existing oil well data to help in the modelling of the basin.
  2. Acquire public domain geophysical datasets. This will help in improving the subsurface structural and geological model. A depth to basement modelling exercise shall be completed. The data to be included in such model is expected to include, but is not limited to:
    • Gravity
    • Magnetics
    • Seismic
    • Exploration mud rotatory drilling with wireline geophysics to evaluate the stratigraphy and basement depth for the Property area.
  3. Water sampling of drill holes using in-hole packer equipment to test for lithium enrichment and deleterious element content of the brine.
  4. Acquire additional geophysical data to assess basement depth, water content and brine depth throughout the basin. This will be completed by a combination of gravity and electro magnetic data acquisition.
  5. Further drilling to test for:
    •  Stratigraphy
    • Brine composition
    • Production metrics

Finder's Fee

In connection with acquiring the Property, the Company has agreed to pay a finder's fee (the "Finder's Fee") to Atherton Resources LLC. Subject to acceptance of the TSX Venture Exchange, the Finder's Fee shall include: (1) a 2% net smelter royalty over the Property, with a right to repurchase 1% of such royalty for the greater of US$1 million or 10% of the value of such 1% royalty; (2) the issuance of 150,000 common shares ("Shares") of the Company upon delivery of a technical report prepared in accordance with National Instrument 43-101 in respect of the Property; and (3) the issuance of 380,000 Shares upon delivery of a positive feasibility study in respect of the Property.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by William R. Henkle, Jr., a "qualified person" within the meaning of National Instrument 43-101.

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, OTCBB and Frankfurt. GBML currently has two projects: (1) an option to acquire up to 90 per cent of the North-West Leinster lithium property in Ireland, and (2) a 55-per-cent 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 property for staged payments of $5.75 million (U.S.). GBML will retain a 0.75-per-cent net smelter royalty.

Michael Murphy BA, MBA, MSc., ICD
President & CEO
E: 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking information within the meaning of the applicable Canadian securities legislation. Forward-looking information in this press release includes, but is not limited to, statements about the Lithium King Property, including the potential lithium values of the brine, the lithium potential of the Property, the receipt of required drilling permits and the proposed work program, the terms of the Finder's Fee and regulatory approval of such fee. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Sufficient work has not been performed on the Lithium King Property to determine what lithium and potassium values are present. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, impacts arising from the global disruption caused by the COVID-19 coronavirus outbreak, fluctuations in general macroeconomic conditions, availability of financing, the potential for gold and/or lithium at any of the Company's properties, the prospective nature of any claims comprising the Company's property interests, industry conditions, dependence upon regulatory approvals, and uncertainty of sample results, timing and results of future exploration. Please refer to the Company's MD&A for the year ended April 30, 2020 and other disclosure documents filed under its profile on SEDAR for other risks that could materially affect the Company. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE. NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

Schedule A

LITHIUM KING PLAY AREA SHALLOW AQUIFER BRINES
TOOELE COUNTY, UTAH
PREPARED BY: Henkle and Assoc. from the U.S. Geologicial Survey Database: Produced Waters, Volume 2.2n.xlsx
COUNT WELLNAME Li Mg Mg/Li Ca Ca/Li Ca/Mg WELLTYPE WELLCLASS
1 NWIS Well (C- 1-17)18cab- 1 1200 5600 4.6666667 1000 0.83333333 0.178571429 Geothermal  
2 NWIS Well (B- 1-17)22abd- 1 1100 5400 4.9090909 1000 0.90909091 0.185185185 Geothermal  
3 NWIS Well (B- 1-17)29dac- 1 1000 5400 5.4 940 0.94 0.174074074 Geothermal  
4 NWIS Well (C- 1-18) 3dcd- 2 970 4800 4.9484536 1000 1.03092784 0.208333333 Geothermal  
5 NWIS Well (B- 1-17)11aac- 1 810 5000 6.1728395 1200 1.48148148 0.24 Geothermal  
                   
6 NWIS Well (C- 1-17) 4bba- 1 810 4300 5.308642 940 1.16049383 0.218604651 Geothermal  
7 NWIS Well (B- 1-17)22bca- 1 760 4500 5.9210526 920 1.21052632 0.204444444 Geothermal  
8 NWIS Well (B- 1-17)12dcc- 1 730 4700 6.4383562 1200 1.64383562 0.255319149 Geothermal  
9 NWIS Well (B- 2-17)36ddd- 1 720 4600 6.3888889 1200 1.66666667 0.260869565 Geothermal  
10 NWIS Well (B- 1-17)23bad- 2 700 4300 6.1428571 1200 1.71428571 0.279069767 Geothermal  
                   
11 NWIS Well (B- 1-17)19dad- 2 620 3700 5.9677419 1100 1.77419355 0.297297297 Geothermal  
12 NWIS Well (B- 1-17)23abd- 1 580 3800 6.5517241 1300 2.24137931 0.342105263 Geothermal  
13 NWIS Well (B- 1-17)22aad- 1 570 4100 7.1929825 1100 1.92982456 0.268292683 Geothermal  
14 NWIS Well (C- 1-18)17bdb- 1 420 3100 7.3809524 1100 2.61904762 0.35483871 Geothermal  
15 NWIS Well (B- 1-17)21add- 3 290 3000 10.344828 1200 4.13793103 0.4 Geothermal  
                   
16 NWIS Well (C- 1-17)15dbd- 1 250 1800 7.2 1100 4.4 0.611111111 Geothermal  
17 NWIS Well (C- 1-18)11ccd- 1 170 1800 10.588235 1200 7.05882353 0.666666667 Geothermal  
18 NWIS Well (C- 3- 2)35abc- 1 120 8500 70.833333 910 7.58333333 0.107058824 Geothermal  
19 NWIS Well (C- 1-17)18cab- 1 95 5100 53.684211 960 10.1052632 0.188235294 Geothermal  
20 NWIS Well (B- 4-18)17ddd- 1 88 2500 28.409091 2200 25 0.88 Geothermal  
                   
21 NWIS Well (B- 1-17)29dac- 1 88 4800 54.545455 830 9.43181818 0.172916667 Geothermal  
22 NWIS Well (C- 1-17)17bba- 1 86 5000 58.139535 970 11.2790698 0.194 Geothermal  
23 NWIS Well (C- 1-18)11ccd- 2 85 4300 50.588235 1100 12.9411765 0.255813953 Geothermal  
24 NWIS Well (B- 4-18)17aaa- 1 85 3700 43.529412 1000 11.7647059 0.27027027 Geothermal  
25 NWIS Well (C- 2- 1) 6abc- 4 84 5700 67.857143 920 10.952381 0.161403509 Geothermal  
                   
26 NWIS Well (B- 5-18)32ddc- 1 81 2500 30.864198 2200 27.1604938 0.88 Geothermal  
27 NWIS Well (B- 4-18)17ddd- 1 78 2900 37.179487 2500 32.0512821 0.862068966 Geothermal  
28 NWIS Well (B- 5-18)32ddc- 1 78 3100 39.74359 2900 37.1794872 0.935483871 Geothermal  
29 NWIS Well (C- 1-17) 4bba- 1 75 4700 62.666667 1000 13.3333333 0.212765957 Geothermal  
30 NWIS Well (C- 3- 5) 4bbb- 2 75 5300 70.666667 1100 14.6666667 0.20754717 Geothermal  
                   
31 NWIS Well (B- 1-17)31acc- 1 72 5700 79.166667 1100 15.2777778 0.192982456 Geothermal  
32 NWIS Well (C- 1-17)17bba- 1 71 5200 73.239437 1000 14.084507 0.192307692 Geothermal  
33 NWIS Well (B- 1-17)31acc- 1 71 5100 71.830986 910 12.8169014 0.178431373 Geothermal  
34 NWIS Well (B- 1-17)11aac- 1 69 3800 55.072464 970 14.057971 0.255263158 Geothermal  
35 NWIS Well (B- 1-17)31acc- 1 69 5800 84.057971 1100 15.942029 0.189655172 Geothermal  
                   
36 NWIS Well (B- 2- 1)24bad-10 69 2400 34.782609 2200 31.884058 0.916666667 Geothermal  
37 NWIS Well (B- 1-17)12dcc- 1 67 2200 32.835821 2100 31.3432836 0.954545455 Geothermal  
38 NWIS Well (B- 1-17)22abd- 1 67 4300 64.179104 970 14.4776119 0.225581395 Geothermal  
39 NWIS Well (B- 4-18) 1cbc- 1 66 2200 33.333333 2000 30.3030303 0.909090909 Geothermal  
40 NWIS Well (C- 3- 5) 5aba- 1 66 4400 66.666667 1100 16.6666667 0.25 Geothermal  
                   
41 NWIS Well (C- 1-18) 6adc- 2 65 1400 21.538462 1200 18.4615385 0.857142857 Geothermal  
42 NWIS Well (D- 1- 1) 4cac- 1 63 4000 63.492063 1200 19.047619 0.3 Geothermal  
43 NWIS Well (B- 1-17)36dac- 1 63 4800 76.190476 1100 17.4603175 0.229166667 Geothermal  
44 NWIS Well (B- 1-17)26cad- 1 61 4700 77.04918 1100 18.0327869 0.234042553 Geothermal  
45 NWIS Well (C- 2- 1)34dda- 1 61 3900 63.934426 1100 18.0327869 0.282051282 Geothermal  
                   
46 NWIS Well (B- 1-17)31acc- 3 60 3900 65 1100 18.3333333 0.282051282 Geothermal  
47 NWIS Well (C- 1-18)17bdb- 1 60 3300 55 1100 18.3333333 0.333333333 Geothermal  
48 NWIS Well (B- 1-18)32ccc- 1 59 1300 22.033898 920 15.5932203 0.707692308 Geothermal  
49 NWIS Well (B- 1-17)34ddd- 1 59 4200 71.186441 1000 16.9491525 0.238095238 Geothermal  
50 NWIS Well (B- 1-17)31acc- 2 59 4400 74.576271 950 16.1016949 0.215909091 Geothermal  
                   
51 NWIS Well (B- 1-17)31acc- 3 57 3300 57.894737 1000 17.5438596 0.303030303 Geothermal  
52 NWIS Well (B- 2-17)36ddd- 1 56 3400 60.714286 1200 21.4285714 0.352941176 Geothermal  
53 NWIS Well (B- 1-17)31acc- 2 54 4500 83.333333 1000 18.5185185 0.222222222 Geothermal  
54 NWIS Well (B- 4-18)33ccc- 1 54 1700 31.481481 2100 38.8888889 1.235294118 Geothermal  
55 NWIS Well (C- 1-17)10aac- 1 53 3500 66.037736 1200 22.6415094 0.342857143 Geothermal  
                   
56 NWIS Well (B- 1-17)26cad- 1 52 3200 61.538462 1200 23.0769231 0.375 Geothermal  
57 NWIS Well (A- 3- 2)26aab- 1 51 3400 66.666667 1100 21.5686275 0.323529412 Geothermal  
58 NWIS Well (B- 1-17)23abd- 1 50 3200 64 1300 26 0.40625 Geothermal  
59 NWIS Well (B- 4-18)33ccc- 1 50 2200 44 2600 52 1.181818182 Geothermal  
60 NWIS Well (B- 1-17)31acc- 2 49 4600 93.877551 1000 20.4081633 0.217391304 Geothermal  

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