Global Battery Retracts Corporate Presentation
September 17, 2019
Global Battery Metals Ltd. (formerly RedZone Resources Ltd.), at the request of the Investment Industry Regulatory Organization of Canada, is retracting certain disclosure in its corporate presentation. Specifically, the disclosure "could be 400 mt at 0.4 per cent copper equivalent" constitutes restricted disclosure per National Instrument 43-101 2.3(1)(a) as the quantity and grade of the "deposit" have not been categorized as an inferred, indicated or measured mineral resource or proven or probable mineral reserve.
In addition, the disclosure of the drill hole intercepts disclosed in the company's corporate presentation constitutes restricted disclosure as it does not provide a breakdown of the individual metals/minerals that comprise the CuEq calculation. Copper equivalents represent (CuEq percentage) the value for each metal multiplied by the conversion factor, summed and expressed in equivalent copper grades. These results are exploration results only, and no allowance is made for metallurgical recoveries. The conversion factors used were: CuEq (per cent) calculated using $2.80 (U.S.) per pound of copper and $16 (U.S.) per pound of molybdenum; CuEq equals copper per cent plus (Mo per cent times 5.71428571).
About Global Battery Metals Ltd.
Global Battery Metals is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. Global Battery Metals currently has two projects: (1) an option to acquire up to 100 per cent of the North-West Leinster lithium property in Ireland, and (2) a 55-per-cent stake in the Peru-based Lara copper property, which has over 10,000 metres of drilling.
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