Grab Key Details And Sources Here.
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Barchart Is Reporting A Multitude Of Triggered Technical Indicators On NILIF
At 11:00AM EST Wednesday, the Barchart website was reporting NILIF to have several triggered technicals.
Take a look for yourself:
Short Term Indicators
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Medium Term Indicators
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 50-200 Day MACD Oscillator
Long Term Indicators
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 100 - 200 Day MACD Oscillator
Watch these technicals closely this week.
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NILIF Has Been All Over The Headlines Recently
#1. Surge Confirms 1.5km Extension of Lithium Mineralization with Grades up to 5,670 ppm Lithium from Holes 2303 and 2304
West Vancouver, British Columbia--(Newsfile Corp. - October 18, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce certified assay results on the Nevada North Lithium Project confirm mineralization extends 1500m to the northwest of 2022 drilling.
Samples from drill hole NN2304 (Drill site location P) returned positive results ranging between the 1,000 ppm cutoff to 5,670 ppm Li. This includes the highest grade horizon which has a thickness of 29.8m (97.5ft) with an average grade of 3,841ppm Li. Significantly, NN2304 is a 300m (984 ft) step out to the northwest from previously reported NN2302 and has a composite thickness of intersected clay horizons of 32.9m (107.5ft) for an overall average grade of 3,682 ppm Li.
Drill hole NN2303 (drill site location V), a further 1,000m (3,300ft) step-out to the northwest from NN2304, returned positive sample results ranging between the 1000 ppm cutoff to 5,120 ppm Li. The primary clay horizon starts from 78.5m (257.5 ft), is 21.3m (70ft) thick and grades 3,064ppm Li. The composite thickness of clay layers intersected was 22.8m (75 ft), for an overall grade of 2,940 ppm Li. Two samples returned 1,210 ppm Li between 0 and 3.8m (12.5ft) below surface and are interpreted to lie on the edge of an additional shallow zone of near-surface lithium mineralization extending to the north and west. The 2023 transient electromagnetic survey suggests the near-surface claystone thickens to the west, and resistivity decreases, possibly indicating an area of more substantial mineralization (See Figure 2). Hole NN2303 is a 1,500m (4,921 ft) step out to the northwest from hole NN2205, the most northerly hole of the 2022 drilling campaign.
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Mr. Greg Reimer, Chief Executive Officer, and Director commented, "Drill holes NN2302, 2303 and 2304 now confirm mineralization extends an additional 1.5 km from the most northerly hole of the 2022 drill program for an overall confirmed strike length in excess of 3km. I am very excited to see that the lithium bearing clay horizons, identified by geophysics, are confirmed by these drill results. Additionally, the near surface intersection of NN2303, which is anticipated to thicken to the west, will be a priority to follow up in the next drilling program."
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Qualified Person as Defined Under National Instrument 43-101Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.
#2. Surge Enters into Agreements to Become Strategic Stakeholder in Private Lands within its Borders
West Vancouver, British Columbia--(Newsfile Corp. - October 3, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5) (the "Company" or "Surge") is pleased to announce that it has entered into two mineral property purchase agreements to purchase a total of twenty-five (25%) of the mineral rights (the "Mineral Rights") to private lands, comprised of four parcels, totaling 880 acres (the "Private Lands") situated in Surge's existing North Nevada Lithium Project (the "NNLP"). The Private Lands are shown on the attached map of the NNLP.
The first of the two mineral property purchase agreements, dated effective September 14, 2023, (the "Wilkins Family Agreement") calls for Surge to purchase a twenty-one point two five (21.25%) percent interest in the Mineral Rights underlying the Private Lands in exchange for: (i) a deposit of US$50,000 payable pro rata to the three vendors (the "Wilkins Vendors") under the Wilkins Family Agreement; (ii) upon receipt of regulatory (TSX Venture Exchange) approval of the Wilkins Family Agreement, issuance pro rata to the Wilkins Vendors a total of 1,250,000 shares of Surge's common stock; and (iii) upon Surge entering into an agreement (the "Surface Agreement") to purchase the surface rights to the Private Lands, should such an agreement be entered into, USD$150,000 will be paid pro rata to the Wilkins Vendors. The Wilkins Family Agreement contains provision for payment of a three (3%) percent royalty on production from percentage of the Mineral Rights on the Private Lands purchased from the Wilkins Vendors (the "Wilkins Royalty"). The Wilkins Royalty is not payable until such time as the Surface Agreement is entered into with the owners of the surface rights to the Private Lands. Surge has the right for five (5) years to purchase one-half of the Wilkins Royalty (reducing the royalty to 1.5%) by paying to the Wilkins Vendors USD$750,000.
The second of the two mineral property purchase agreements, dated effective September 15, 2023, (the "Y3-II Agreement") calls for Surge to purchase a three point seven five (3.75%) percent interest in the Mineral Rights underlying the Private Lands in exchange for: (i) a deposit of USD$8,250 payable pro rate to the two vendors (the "Y3-II Vendors") under the Y3-II Agreement; (ii) upon receipt of regulatory (TSX Venture Exchange) approval of the Y3-II Agreement, issuance pro rata to the Y3-II Vendors of a total of 300,000 shares of Surge's common stock; and (iii) upon Surge entering into the Surface Agreement, should such an agreement be entered into, USD$24,750 will be paid pro rata to the Y3-II Vendors. The Y3-II Agreement contains provision for payment of a three (3%) royalty on production from percentage of the Mineral Rights on the Private Lands purchased from Y3-II (the "Y3-II Royalty"). The Y3-II Royalty is not payable until such time as the Surface Agreement is entered into with the owners of the surface rights to the Private Lands. Surge has the right for five (5) years to purchase one-half of the Y3-II Royalty (reducing the royalty to 1.5%) by paying to the Y3-II Vendors USD$225,000. Transfer of the interest of the Y3-II Vendors is conditional upon entering into the final agreement for the Royalty prior to the transfer.
Both the Wilkins Family and Y3-II are at arm's length to the Company.
Mr. Graham Harris, Chair and Director commented: "The private lands are comprised of separate surface (grazing) rights and subsurface (mineral) rights. Acquiring an interest in the mineral rights ensures our place as a stakeholder in the parcels of land we surround. We would like to thank the above parties for their cooperation. We will continue to work with the remaining parties so we can include this area in future exploration and development plans."
Land and mineral rights to the Private Lands are divided into surface rights and sub-surface or "mineral estate" rights each of which confer upon the holder certain rights at law in the State of Nevada.
Both the Wilkins Agreement and the Y3-II Agreement are subject to their approval by the TSX Venture Exchange.
#3. Surge Upgrades and Begins Trading on the OTCQX in the United States
West Vancouver, British Columbia--(Newsfile Corp. - September 28, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQX: NILIF) (FSE: DJ5C) (the "Company" or "Surge") has qualified to trade on the OTCQX Best Market®. Surge upgraded to OTCQX from the OTCQB Venture Market®. Surge begins trading today on OTCQX under the symbol NILIF.
The OTCQX market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX market from the OTCQB market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
Mr. Greg Reimer, Chief Executive Officer, and Director commented: "We are very pleased to advance to the OTCQX in order to provide our US investors with enhanced value in trading our securities."
#4. Surge Continues to Intercept Significant Lithium Results with Second 2023 Hole up to 5820 ppm Lithium
West Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Surge Battery Metals Inc. (TSXV: NILI) (OTCQB: NILIF) (FSE: DJ5C) (the "Company" or "Surge") is pleased to announce that the second certified assay results from the summer drilling program at the Nevada North Lithium Project returned values ranging from 1,000 ppm to 5820ppm lithium.
Samples from sonic drill hole NN2302 (Drill site location M) returned positive results ranging between the 1,000 ppm cutoff to 5820 ppm Li. This includes the highest grade zone which begins at 67.5ft (20.57m) below surface and extends 180 ft (54.86m) with an overall composite grade of 3,985 ppm Li. (See Appendix 1 for interval values). NN2302 has a composite thickness of intersected clay horizons of 41.2m (135ft), for an overall average grade of 3712 ppm Li. Significantly, the composite grade of clay horizons encountered in NN2302, is 15% higher than the average composite grade of clay horizons intersected in the reverse circulation drillholes completed in 2022.
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Surge receives Regulatory Approval for Drill Site "W"
Our news release of August 29, 2023, indicated that recently completed drilling successfully intersected the known lithium clay horizons, extending the strike length of the deposit from 1,620 meters to 3,000 meters. We did not drill site "U" but applied to the BLM to replace it with drill site " W", 500 meters further north, extending the strike length of the deposit to 3,500 meters.
The BLM has approved drill site location W and it will be drilled in the coming week to conclude our 2023 summer drill program.
Mr. Greg Reimer, Chief Executive Officer, and Director commented: "Not only has NN2302 returned a significant average grade greater than our 2022 program, but it is also noteworthy in that it is an approximate 250m (820 ft) step out to the northwest of drillhole NN2205 from the 2022 program. We are eagerly awaiting assay results from holes P and V, located 300m and 1300m further north, respectively, where similar clay units were encountered during 2023 drilling and logging."
Qualified Person as Defined Under National Instrument 43-101Alan J. Morris, MSc, CPG of Spring Creek, Nevada, a Qualified Person as defined under National Instrument 43-101 has reviewed and approved the technical aspects of this news release.
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Coverage is officially reinitiated on NILIF. When time permits, do this:
