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Surge Battery Metals Provides an Update on its Proposed Nickel Properties In British Columbia

Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV: NILI) (OTCQB: NILIF ) (FRA: DJ5C) is pleased to announce the confirmation of a significant new nickel discovery from the maiden drilling program at the Van Target at nearby FPX Nickel Corp. (TSXV: FPX) Baptiste Deposit in the Decar Nickel District as announced by FPX Nickel Corp. on October 19, 2021 ( News Release ).  

Surge Battery Metals Provides an Update on its Proposed Nickel Properties In British Columbia. (PRNewsfoto/Surge Battery Metals Inc.)

As reported on July 8, 2021, Surge has entered into an option agreement with Nickel Rock Resources Inc. ("Nickel Rock") (TSXV: NICL) dated July 7, 2021 (the "Agreement"), whereby the Company may earn an undivided 80% interest in the Hard Nickel and Nickel 100 group of claims, located in Northern British Columbia (the "Transaction").  The Transaction is deemed to be a "related party" transaction and is subject to final TSX Venture Exchange ("Exchange") acceptance.   These Nickel Group Claims are directly adjacent and nearby to the FPX Nickel Corp. (TSXV: FPX) Baptiste Nickel Deposit. 

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On September 3, 2021, the Company announced its proposed 2021 Nickel Exploration Work Program which consists of trenching, surface exploration, drone magnetic surveys, back pack drilling, and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping. 

The Company estimates that this proposed work program will include CAD$125,000 in exploration expenditures spent over the fall and early winter of 2021, and is subject to successfully obtaining the aforementioned Exchange approval. 

Mr. Greg Reimer, Surge President & CEO  states:  " The Company has decided to partner with Nickel Rock Resources on these properties because we believe that these mineral claims are of a high value to our shareholders. To joint venture these two mineral claims with a credible exploration partner in the region is extremely valuable and we can take advantage of not only Nickel Rock Resources current $600,000 flow-through exploration program, but also the work being done by nearby FPX Nickel Corp (TSXV: FPX) on the world-renown Baptiste Nickel Deposit. Currently, Surge has over CAD$4 million in working capital, which is sufficient to fund this 2021 work program and our other exploration property commitments in both British Columbia and Nevada ."

The Surge BC Nickel Exploration Project (the "Project") consists of two non-contiguous mineral claims groups. The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

Source: Surge Battery
Date: Oct 20, 2021


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