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Exploration Programs Fully Funded for Vital Metals Needed in Surging Quantities by the Global Electric Vehicle Market: Grid Battery Metals Inc. (Stock Symbol: EVKRF)

By: Get News

- 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. 

- 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.  

- Completed Phase 1 of Exploration Plan at Texas Springs Nevada Lithium Project. 

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.

Auto manufacturers worldwide are producing more Electric Vehicles (EVs) for sale each year, both in terms of the number of car and truck model options available for consumers and also in terms of the number of cars produced. Governments are stepping up with EV subsidies for both consumers and manufacturers, and auto manufacturers are increasing their manufacturing capacity. One example can be seen in the recent announcement by Tesla Inc. (NASDAQ: TSLA) to increase the capacity of a newly proposed Mexican manufacturing facility to produce over 2 million vehicles/year and commit to an investment of US$10 Billion in 2025.

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.

EVKRF is releasing many new details about its operations, upcoming plans, and its high-value business niche via the company’s official account on the X (former Twitter) social media platform.  Some of the most significant postings have included the following: 

“Grid is taking charge as a leader in #lithium & #nickel exploration. Our strategic Nevada lithium properties as well as our BC nickel properties, position us at the forefront of the world’s growing demand for EV battery metals.” Click here for more details: https://twitter.com/GRIDBattery/status/1732822193074217070 

“Grid's Clayton Valley project in #Nevada borders the Silver Peak Lithium Project of Albemarle, the only producing #lithium mine in North America. Here are the details on our #exploration plans, and how lithium is contained in both underground reservoirs and clay deposits.” Click here to view the map: https://twitter.com/GRIDBattery/status/1732123172189733292

The US #electricvehicle market is experiencing healthy sales growth and is trending past the tipping point for mass adoption. The US has sold more #EVs in the first 9 months of this year than in all of 2022. Click here to view the graphic:  https://twitter.com/GRIDBattery/status/1730340426639364346 

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. 

Texas Spring Nevada Lithium Property 

Phase 1 Exploration Program Recap

At the Texas Springs Lithium Project, EVKRF contracted the services of Rangefront Geological to perform both a detailed soil sampling on a 50 m X 100 m spacing and to oversee a CSAMT geophysical survey performed by KLM Geoscience.  The CSAMT survey is a method for obtaining information about subsurface resistivity and geology, which can help predict geological structure and interfaces of potentially lithium-bearing geologic units, while the detailed surface sampling will allow us to determine lithium values at the surface.

Together these geological techniques should help predict geological structure and possible locations of historic lithium accumulation.  This is part of a methodical and systematic approach to high-quality mineral exploration for this highly sought-after metal in Nevada and will assist the Company in determining the next steps for the overall exploration plan, including but not limited to a subsequent drilling program.

Texas Spring Property Location

Of note, the EVKRF Texas Springs Lithium Property adjoins the southern border of the Nevada North Lithium Project – owned by Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF). Surge’s first round of drilling identified strongly mineralized lithium-bearing clays. 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.   On September 12, 2023, Surge announced some exciting results of its most 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.  These results were followed up on December 5, 2023, with a subsequent drill program yielding core drilling intercepts with assays over 7,630 ppm and multiple horizons upon deeper drilling performed.

To view graphic representations and other details see this link:  https://gridbatterymetals.com/grid-battery-metals-announces-the-geophysics-results-from-phase-1-of-its-exploration-plan-at-the-texas-springs-nevada-lithium-project-2/

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 web link, Resource World Article.

The article includes commentary by EVKRF CEO Mr. Tim Fernback, a discussion of the Company’s current lithium exploration programs in Nevada, and the EVKRF proposal to spin out its BC Nickel property subsidiary to the Canadian Securities Exchange ("CSE") as a future publicly traded company, offering a future share dividend to Grid's shareholders at no addition cost.

EVKRF Amends Consulting Services Agreement with Triomphe Holdings Ltd. (DBA Capital Analytica) 

On October 12th EVKRF announced that further to the Company’s news release dated June 30, 2023, announcing the engagement of Triomphe Holdings Ltd. (dba Capital Analytica) (the “Consultant”) to provide a multi-faceted Promotional Enhancement Service, the parties have agreed to amend certain terms of the Consulting Services Agreement. The amended terms are that EVKRF will pay an additional fee of $60,000 to the Consultant and the Agreement will be extended for an additional three-month term from October 11, 2023. 

EVKRF also granted incentive stock options to the Consultant to purchase 400,000 common shares at an exercise price of $0.09 per share for a period of five years from the date of grant. The stock options granted will vest in 25% increments every three months over a 12-month period. The stock options granted are also subject to a 4-month and a day hold period by applicable Canadian Securities Laws. 

Plan to List EVKRF Subsidiary on Canadian Securities Exchange - CSEP

On September 28th EVKRF announced that the Company has entered into an Arrangement Agreement with its wholly owned subsidiary 1427652 B.C. Ltd. ("SpinCo"). EVKRF plans to transfer to SpinCo ownership of its interests in its nickel properties in British Columbia, which consists of five claim blocks in three groups (Nickel West, Nickel Central, Nickel South) in the area surrounding Mount Sidney Williams, near the Decar Project and the Baptiste deposit of FPX Nickel Corp (TSXV:FPX) in exchange for 9,339,040 common shares of SpinCo (the "Consideration Shares"). EVKRF will spin out the Consideration Shares to EVKRF shareholders.

It is proposed that the transaction will be carried out by way of a statutory plan of arrangement (the "Spin-Out") under the Business Corporations Act (British Columbia). Under the terms of the Spin-Out, shareholders would exchange their existing common shares for the same number of new common shares of EVKRF (having the identical terms of the existing Grid common shares) and Spin-Out Shares of SpinCo. There will be no change in shareholders' holdings in EVKRF as a result of the Spin-off. It is anticipated that each EVKRF shareholder will receive 1/20 of a Spin-Out Share for each EVKRF common share held as of the record date for the arrangement. EVKRF will continue to hold its interest in its Nevada-based Lithium Projects (Texas Springs, Volt Canyon, and Clayton Valley Lithium Projects). The intention is to seek a listing of the SpinCo common shares on the Canadian Securities Exchange. 

EVKRF Completes Phase 1 of its Exploration Plan at Texas Springs Nevada Lithium Project

On September 20th EVKRF announced that it has completed the first phase of its summer/fall exploration program at its Texas Springs Property near Elko Nevada.

EVKRF contracted the services of Rangefront Geological to perform both a detailed soil sampling on a 50 m X 100 m spacing and to oversee a CSAMT geophysical survey to obtain information about subsurface resistivity and geology. Together these geological techniques should help predict geological structure and possible locations for lithium accumulation. This is part of a methodical and systematic approach to high-quality mineral exploration. 

For more information on $EVKRF visit: www.gridbatterymetals.com

or https://tinyurl.com/3sh5z37x

$EVKRF Amazing PowerPoint Presentation: 

https://tinyurl.com/44cuummd

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Disclaimer/Safe Harbor:

These news releases and postings may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views for future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In light of these uncertainties, the forward-looking events referred to in this release might not occur.

Media Contact
Company Name: Grid Battery Metals Inc
Contact Person: Tim Fernback, President & CEO
Email: Send Email
Phone: +1 604-428-5690
Address:3028 Quadra Court
City: Coquitlam
State: British Columbia V3B 5X6
Country: Canada
Website: https://gridbatterymetals.com/



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