Vancouver, British Columbia – September 17, 2021 (Newsfile Corp.) (Investorideas.com Newswire) International Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the “Firm” or “GBML”) is happy present an replace on its Lithium King property (the “Lithium King Property”) in Utah.
Lithium King Property Replace:
- The Firm has renewed leases on 88 claims overlaying a complete space of 1,760 acres.
- The claims cowl geologically important options resembling basement excessive and native graben fault buildings believed to permit up-flow of lithium bearing fluids from deeper basinal brines.
- Early exploration was carried out by overlaying the declare space with floor magnetic and gravity surveys.
- Work accomplished since venture acquisition in March 2021 has recognized splendid places for preliminary properly check drill holes.
- McKay Mineral Exploration, LLC has been employed to help within the drill allow software.
Michael Murphy, President and CEO, commented “Our work so far on the Lithium King property continues to assist our thesis of the potential for the invention of a major lithium bearing brine aquifer. Our work will deal with a key fault construction that’s interpreted to permit up-flow of lithium bearing fluids. With the engagement of McKay Minerals Exploration, LLC, we glance ahead acquiring a drill allow earlier than yr finish.”
Abstract of Work Accomplished on the Lithium King Property
The Lithium King property was recognized by the Firm in 2020 and the venture space was staked within the first quarter of 2021.
Historic Lithium values from 39 shallow USGS wells (25 toes) averaged 244 components per million (ppm) and ranged from a low 49 ppm to a excessive of 1,200 ppm. The Lithium King property is throughout the Nice Basin of the Western United States, the place lithium concentrations of larger than 10 ppm in brines are anomalous. Lithium values from the one lithium manufacturing in the US, in Clayton Valley, Nevada, additionally within the Nice Basin, vary from 75 to about 250 ppm.
Magnesium values on the property and close to neighborhood vary between 1,300 and eight,500 ppm.
The shallow aquifer water samples might not mirror the deeper basin under 25 toes depth. Drilling to bedrock and brine sampling is required to verify the presence of and focus of lithium within the deeper basin brines.
Based mostly on the geophysical surveys and historic information, the realm underlying the claims are interpreted to be a part of a regional basement excessive with native graben buildings. This structural setting is believed to signify a conduit for basinal brine up-flow.
Earlier this yr, 32-line km, over 4 strains, of floor magnetic was acquired over the declare bundle and basement/basin boundary. The identical strains have been then surveyed utilizing floor gravity. The work was achieved by Quantec, and the outcomes have been inverted in 2D sections to assist with basin interpretation and check properly concentrating on.
Based mostly on this work, 4 preliminary check properly targets have been recognized throughout the declare block.
Lithium King Property Description
The Lithium King Property is situated on the west aspect of the Nice Salt Lake Basin in western Utah, adjoining to the group of Wendover, Utah. The land place consists of roughly 1,760 acres of placer claims. The property has the potential to host a lithium and magnesium brine deposit in an present mineral producing location in a mining-friendly state (see Firm information launch from March 4, 2021 for detailed venture assessment).
The technical info on this information launch has been ready in accordance with Canadian regulatory necessities and has been reviewed and accredited by Jean-Philippe Paiement, P Geo. a “certified individual” throughout the that means of Nationwide Instrument 43-101. Jean-Philippe Paiement has 15 years expertise within the exploration business utilized to Li mineralization modelling and useful resource definition.
About International Battery Metals Ltd.
GBML is a mineral exploration firm with a deal with metals that make up and assist the speedy evolution to battery energy. GBML’s frequent shares are listed on the TSX Enterprise Alternate and Frankfurt Inventory Alternate and quoted on the OTCQB. GBML at the moment has three tasks: (1) an possibility to amass as much as a 90% within the North-West Leinster lithium property in Eire, (2) a 100% curiosity within the Lithium King property in Utah, and (3) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As beforehand disclosed, Minsur S.A., a Peruvian mining firm, entered into an possibility settlement with GBML and Lara Exploration Ltd. to amass the Lara copper property for staged funds of USD$5.75 million. GBML will retain a 0.75% web smelter royalty.
International Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
Cautionary Assertion Concerning “Ahead-Wanting” Data
This press launch incorporates sure “forward-looking statements” throughout the that means of Canadian securities laws, referring to a drill program to be carried out on the Firm’s North-West Leinster lithium property in Eire. Though the Firm believes that such statements are affordable, it can provide no assurance that such expectations will show to be appropriate. Ahead-looking statements are statements that aren’t historic details; they’re usually, however not all the time, recognized by the phrases “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “tasks,” “goals,” “potential,” “objective,” “goal,” “potential,” and comparable expressions, or that occasions or circumstances “will,” “would,” “might,” “can,” “might” or “ought to” happen, or are these statements, which, by their nature, discuss with future occasions. The Firm cautions that forward-looking statements are primarily based on the beliefs, estimates and opinions of the Firm’s administration on the date the statements are made, and so they contain quite a few dangers and uncertainties. Consequently, there could be no assurances that such statements will show to be correct and precise outcomes and future occasions might differ materially from these anticipated in such statements. Besides to the extent required by relevant securities legal guidelines and the insurance policies of the TSX Enterprise Alternate, the Firm undertakes no obligation to replace these forward-looking statements if administration’s beliefs, estimates or opinions, or different elements, ought to change. Components that would trigger future outcomes to vary materially from these anticipated in these forward-looking statements embody dangers related potential accidents and different dangers related to mineral exploration operations, the danger that the Firm will encounter unanticipated geological elements, the likelihood that the Firm might not be capable of safe allowing and different governmental clearances crucial to hold out the Firm’s exploration plans, the danger that the Firm will be unable to boost enough funds to hold out its enterprise plans, and the danger of political uncertainties and regulatory or authorized adjustments that may intervene with the Firm’s enterprise and prospects. The reader is urged to discuss with the Firm’s stories, publicly accessible by way of the Canadian Securities Directors’ System for Digital Doc Evaluation and Retrieval (SEDAR) at www.sedar.com for a extra full dialogue of such threat elements and their potential results.
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