Global Battery Metals Granted Four New Mineral Leases to Expand its Michigan Nickel-Copper Project
May 24, 2022
- Plans Underway for Electromagnetic Surveying -
May 24, 2022, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or “GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), 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).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
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 press release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of GBML, 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, the Company’s exploration plans, including, but not limited to, conducting electromagnetic surveys. 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 GBML 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 proposed exploration work, the possibility of accidents and other risks associated with mineral exploration operations such as encountering unanticipated geological factors or the inability to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. 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, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. GBML 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.
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