Grid Battery Metals (TSXV:CELL; OTCQB:EVKRF) focuses on high-value battery metals required for the electric vehicle (EV) market through its highly prospective lithium and nickel properties in North America. Grid has three lithium properties in Nevada: Texas Springs, Clayton Valley, and Volt Canyon.
The Texas Springs Property, located in Elko County, covers approximately 2,500 hectares and is adjoining the southern boundary of the Nevada North Lithium Project owned by Surge Battery Metals (TSXV:NILI). Surge recently announced high-grade lithium of up to 8,070 parts per million (ppm) lithium on the Nevada North Lithium project, which increases the likelihood of a large-scale high-grade lithium discovery at Texas Springs.
The company has completed the first phase of its initial exploration program at Texas Springs, which included a CSAMT geophysical survey and a detailed soil sampling on a 50-meter by 100-meter spacing. Results from these two exploration programs will be key to determining its 2024 exploration plan and possible drilling locations for clay-based lithium targets.
Company Highlights
Grid Battery Metals is a Canadian-based exploration company focused on high-value battery metals required for the electric vehicle (EV) market.The company has three highly prospective lithium properties in Nevada, USA: Texas Springs, Clayton Valley and Volt Canyon. In addition, it holds a nickel project, Grid Nickel Group, based in British Columbia, Canada.As Grid focuses on its lithium projects in Nevada, it plans to spin out its nickel property in British Columbia into a new company (SpinCo) over the next three to six months. SpinCo will be listed as a public company on the TSX Venture Exchange (TSXV), with each Grid shareholder receiving 1/20 of the SpinCo share at no additional cost.All three lithium projects are in the early stage with exploration planned for 2024. The exploration programs on these projects are fully funded through 2024, given Grid’s total available liquidity of approximately C$9 million (including marketable securities).Grid’s management and exploration team has been actively exploring for EV battery metals in Nevada for over a decade, and it has been very successful in finding and funding new lithium discoveries, the most recent being the discovery of the Nevada North Lithium Project.
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