Fundamental Research Initiates Coverage on Grid Battery Metals and Publishes its Initiation Research Report
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Coquitlam, BC – May 9, 2024 – TheNewswire – Grid Battery Metals Inc. (the “Company” or “Grid”) (TSXV: CELL, OTCQB: EVKRF FRA: NMK2) is pleased to report that Fundamental Research Corp. ("Fundamental" or “FRC”) has initiated coverage of the Company. The Initiating Coverage Report can be viewed at Fundamental's website and various third-party websites.
Fundamental is one of the largest independent equity research firms in the world, specializing in small-cap companies and having covered over 650 companies in its 19 years of operation. Fundamental provides fee-based coverage to companies and Grid expresses no opinion on the fully independent forecasts, conclusions, and recommendations of Fundamental. Grid contracted Fundamental to provide its third-party independent research report services for CAD$25,000 + GST.
The Fundamental Research Corp.’s Initiation Research Report includes a third-party independent review of Grid Battery Metals, an Enterprise Valuation Analysis and a Share Price Target completed by FRC’s VP & Head of Research, Mr. Siddarth Rajeev, B. Tech (Electronics Engineering), MBA (Finance), CFA.
About Fundamental Research Corp.
FRC is one of the largest independent equity research firms in the world, having covered over 650 companies in its 21 years of operation. FRC provides fee-based coverage to companies and Grid expresses no opinion on the fully independent forecasts, conclusions, and recommendations of FRC. Their research is being used by some of the largest institutional investors in the world who access it through channels such as Reuters, S&P Capital IQ, Bloomberg, and by subscription.
FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. FRC has full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually.
About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company’s maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded results with average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. (“Surge”) (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023). Our exploration results are on-trend with these results.
About Clayton Valley Lithium Project
The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.
The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
On Behalf of the Board of Directors
Email: info@gridbatterymetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company’s property(s).