Disseminated on behalf of: Grid Battery Metals Inc.
Tim Fernback, president and CEO of Grid Battery Metals Inc. (TSXV: CELL | OTCQB: EVKRF | FRA: W47), discusses the company’s recent copper project acquisition in British Columbia, expanding its portfolio of battery metals projects. Fernback also outlines exploration plans for 2024 and beyond.
Jim Gordon - Hi, I am Jim Gordon and you’re watching MarketOne Minute. Joining us is Tim Fernback. He’s the president and CEO of Grid Battery Metals. Tim, welcome.
Tim Fernback - Thank you for having me.
Jim Gordon - You’re quite welcome, sir. Okay, let’s talk about your company’s most recent acquisition.
Tim Fernback - So we are really excited about this project. We’ve just acquired a large land position in North Central British Columbia. It’s 27,500 hectares large, five distinct claim blocks, in a very prolific Omineca mining district. We’re strategically located between Sentara Gold’s Mount Milligan Mine and the Kamas North Project. And Mount Milligan, as you know, has taken out 742 million pounds of copper over the years and 1.8 million ounces of gold. So it’s a very prolific copper and gold miner in the region. And Northwest Copper, another company, has three copper deposits as well immediately beside our project.
Jim Gordon - Speaking of that, with the addition of this copper property in your lithium portfolio, what does this mean for shareholders?
Tim Fernback - In short, it’s all about diversification. We’re allowing our shareholders to get advantage of some of our expertise in both British Columbia and Nevada. They’ll be holding both copper and lithium projects in their portfolio by holding grid shares. And I believe that we have found some great properties near some prolific regions for extraction of both of those metals. As you know, we’re going to see a lot of change in the market as the market goes to electrification generally. And both copper and lithium are important for that.
Jim Gordon - What’s the company’s current cash position?
Tim Fernback - So we have $5.5 million in the bank. We’re well funded for this upcoming 2024 and 2025 exploration season. We will be exploring diligently on our new copper project that we just mentioned, but also on our three projects in Nevada.
Jim Gordon - Well then tell us more about the projects in Nevada.
Tim Fernback - We have three great properties, Texas Spring to the north. We’re planning an exploration and drilling program there. Immediately to the north of our project is the Surge Nevada North Project. Their deposit trends onto our property, so we’re really excited about proving up a resource in that region. We also have the Volt Canyon Project in Monitor Valley. It’s one that has been underexplored for years, but we are looking to take advantage of that. Our geological team believes there’s great signatures for a discovery there. And of course we have our Clayton Valley project, which we’ve been on for several years. It’s directly beside the Albemarle Silver Peak Mine, which is North America’s only lithium brine mine. And it’s also beside the Century Lithium Angel Island Mine, which they’ve recently come out with a feasibility study and it’s about $3 billion large.
Jim Gordon - One last question. Tell us about Grid Battery Metal’s upcoming exploration plans.
Tim Fernback - Our three properties in Nevada, we have active exploration programs planned for them. We are drilling on the Clayton Valley project. We have four drill holes that were planned there to really explore the horizons of the clay basins in there. And we are also actively looking at putting together a program both on Texas Spring and Volt Canyon. So we’re analyzing what we have already done on both those projects and we’re going to plan for an upcoming drilling program. And then of course we have our B.C. copper project that we mentioned before. So there’s been a lot of historic drilling and sampling work that’s been done in the area. We’re accumulating all that information and proposing a plan going forward. Hopefully we’ll be into a drilling program sometime in 2025.
Jim Gordon - Tim, thanks for joining us.
Tim Fernback - Thank you.
ABOUT GRID BATTERY METALS INC.: Grid Battery Metals Inc. (TSXV: CELL | OTCQB: EVKRF | FRA: W47) is a Canada-based exploration company whose primary listing is on the TSX Venture Exchange. The company maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. Learn more about Grid on their website here.