Lithium & Nickel Exploration Company funded for 2024; Rewarding Shareholders with Dividends; Surging Demand from EV Market : EVKRF
Grid Battery Metals Inc. (OTCMKTS:EVKRF)
— Tim Fernback, EVKRF President & CEO
COQUITLAM, BRITISH COLUMBIA, CANADA , January 8, 2024 /EINPresswire.com/ — Lithium & Nickel Exploration Company funded for 2024; Rewarding Shareholders with Dividends; Surging Demand from EV Market: Grid Battery Metals Inc. (Stock Symbol: EVKRF
For more information on $EVKRF visit: www.gridbatterymetals.com
Focus on Exploration for High Value Battery Metals Required for the Emerging Multi-Billion Dollar Global Electric Vehicle (EV) Market.
Leadership with Extensive Experience in Mineral Exploration and Development, Raising Capital and Building Successful Businesses.
Fully Funded for the 2023 and 2024 Mineral Exploration Seasons.
Soil Sample Results at the Texas Springs Nevada Lithium Project Showing Very Encouraging Average Lithium Grades of 2010 ppm
Released Geophysics Results from Phase 1 of Exploration Plan at Texas Springs Nevada Lithium Project.
Recently Profiled by Respected Resource World Magazine Inc.
Plan to List Subsidiary on Canadian Securities Exchange with Spin-Out to EVKRF Shareholders.
Grid Battery Metals Inc. (TSXV:CELL) (OTCQB:EVKRF) (FRA:NMK2) is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. EVKRF maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.
Like the next-generation battery metals industry, EVKRF is committed to lowering its carbon footprint by working remotely or at a shared office environment. EVKRF has low overhead in sharp contrast to yesterday’s less effective corporate models which contributes to retaining and enhancing shareholder value. EVKRF also has a lean share structure with about 188 million shares outstanding and a public float of only about 72 million shares.
EVKRF has assembled a corporate team and group of advisors that represent extensive experience in mineral exploration and development, raising capital, and building successful businesses.
EVKRF has completed two financings in 2023 and currently has a cash balance of approximately CAD$5 million in its treasury and, in addition to this, over CAD$4.8 million in marketable securities on its balance sheet. EVKRF was fortunate to have disposed of some of its non-core nickel assets earlier in the year to yield this very positive situation. As a result of these efforts EVKRF is fully funded for the 2023 and 2024 mineral exploration seasons.
EVKRF Year End Update
On December 20th EVKRF provided a year end update for investors which included the following message from CEO Tim Fernback.
2023 has been a banner year for EVKRF adding key Nevada lithium assets to its property portfolio, completing three separate equity financings to bolster the balance sheet, completing material exploration activities in both Nevada and British Columbia, and starting the process to spin out the EVKRF Canadian Nickel assets into a separate public company to be listed and financed on the TSX Venture Exchange. All big benefits to EKVRF shareholders, including a planned common share dividend in 2024 associated with the newly created spin out public company.
EVKRF currently has a cash balance of approximately CAD$5 million in its treasury and, in addition to this, over CAD$1.5 million in marketable securities on the balance sheet. If all EKVRF outstanding warrants and options are converted (they are all in the money) that would add another ~ CAD$3 million to our treasury. EVKRF is fully funded for the 2024 mineral exploration season.
A key component in the production of EVs is the exploration, mining and refining of key battery metals like Lithium and Nickel. Both Canada and the US have committed to supporting the mining industry for these key battery metals and recent legislation like the US Inflation Reduction Act confirms both financial and functional support to the mining industry as part of an overall long term strategy for clean technology and progressive solutions to climate change.
EV car production has reached a new milestone. There are now over 41 million electric vehicles on the road globally, thanks in part to incentives found in the Inflation Reduction Act.
Nevada Lithium Exploration Properties
Recently, EKVRF added two new and highly prospective lithium properties to its asset portfolio in Nevada, and in May 2023, Nevada was ranked again as the #1 Mining Jurisdiction in the world by the Fraser Institute, a position it has held several times in the recent past.
EVKRF added key Nevada lithium clay properties, the Texas Springs Property and the Volt Canyon Property to our existing Clayton Valley Lithium assets in Nevada. The EVKRF team completed the Phase 1 exploration of the Texas Springs Property in fall 2023 which included both a CSAMT geophysical survey and a detailed soil sampling on a 50 m X 100 m spacing. Results were impressive and on-trend with the results found at the Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF) Nevada North Lithium Property that adjoins the Texas Spring Property to the north. Our Phase 1 results showed average Lithium Grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to an impressive 5,610 ppm Lithium.
Now that the first phase of the exploration program is complete, EVKRF plans to gather as a group to interpret the geological data and plan the next steps at Texas Springs for the upcoming 2024 exploration season.
It should be noted that EVKRF management and geological team was the original founding management team at Surge, and while there, discovered the Nevada North Lithium property. Here, the average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. Subsequently, Surge announced the results another recent drilling program at this property, and recorded its highest grades to date, with up to 8070 ppm Lithium on the Northern Nevada Lithium project.
For the Clayton Valley Lithium Project, EVKRF plans to update its NI #43-101 Technical Report in early 2024 for a multi-phased exploration program planned on site. The first phase includes building the geologic infrastructure through data compilation and initial auger sampling to collect lakebed material below the sand dunes and alluvial cover, and the second phase is to determine the sub-surface structure and topography to identify drill targets. This would require a geophysical survey using gravity, seismic or magneto telluric techniques. Phase three would be to drill the best targets identified in the first two phases and includes drilling, assaying, permits and reporting. At Volt Canyon, EVKRF plans to complete the proposed soil sampling program announced earlier.
BC Canada Nickel Exploration Properties
EVKRF recently announced its nickel project in British Columbia is being spun into a subsidiary to better distribute focus and resources on this project. EVKRF plans to list this company on the TSX Venture Exchange in the early part of 2024. It will be called AC/DC Battery Metals Inc. (“AC/DC”). Current EVKRF shareholders will receive a significant boost in value from this transaction, as it will result in a free common share dividend in AC/DC shares representing a proportionate value in this new public company.
The EVKRF BC Nickel Property is located beside what is considered the world’s eighth-largest undeveloped nickel resource, the FPX Nickel Corp. (TSXV: FPX, OTCQB: FPOCF) Decar Property as reported in the Canadian Mining Journal.
Nickel continues to be in high demand and global giants like BHP Group Ltd., predict that nickel demand in the next 30 years will be 200%-300% of the demand in the previous 30 years. This bodes well for this commodity and EVKRF plans will benefit shareholders in the long-term by spinning out this venture as a separate entity to be valued accordingly.
Soil Sample Results at the EVKRF Texas Springs Nevada Lithium Project Showing Average Lithium Grades of 2010 ppm
On December 14th EVKRF announced completed soil sample results from the first phase of its fall exploration program at its Texas Springs Property near Elko, Nevada.
EVKRF Texas Spring Lithium Property Soil Sample Grid
Tim Fernback, EVKRF President & CEO comments, “Now that the first phase of the exploration program is complete, we plan to gather as a group to interpret the geological data and plan our next steps at Texas Springs for the upcoming 2024 exploration season. We have some encouraging results to discuss, which is great news for our shareholders.”
Mr. Seth Cude, P.G., Grid’s Qualified Person comments on the results of the program “The soil sampling shows zones of strong lithium concentrations in the northwestern region of the Texas Spring Lithium property which are on trend with strong soil results from Surge Battery Metal’s Nevada North Lithium project. In addition, the CSAMT data shows the Texas Spring Property exhibits several near horizontal to gently dipping subsurface horizons which may have served as paleo accumulation basins, collecting lithium bearing clays. This information, combined with the soil assay, will help us propose excellent future drilling targets.”
EVKRF Geophysics Results from Phase 1 of Exploration Plan at the Texas Springs Nevada Lithium Project
On December 8th EVKRF announced the completed geophysics results from the first phase of its fall exploration program at its Texas Springs Property near Elko Nevada.
Resource World Magazine Profiles Grid Battery Metals (EVKRF)
On October 18th EVKRF announced that Resource World Magazine Inc., a respected industry news writer and editorial author, has profiled Grid Battery Metals Inc. EVKRF in its latest issue.
The article and corporate profile can be found by accessing the following weblink, Resource World Article.
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Grid Battery Metals CEO reveals exciting lithium exploration opportunities in Nevada $EVKRF