11:49 AM EDT, 05/30/2024 (MT Newswires) -- Surge Battery Metals ( NILIF ) was last seen up 3.8% after the company on Thursday said it launched its 2024 exploration-drilling program at the high-grade Nevada North Lithium Project..

The company plans an eight-hole reverse-circulation program to test favorable geochemical extensions and the known geophysical footprint for lithium mineralization.

Testing will take place within an area 1 kilometer to the west and up to 1.2 kilometers to the south of the 2024 maiden resource area containing an inferred mineral resource of 4.67 million tonnes of lithium carbonate equivalent grading 2,839 parts per million lithium at a 1,250 ppm Li cut-off, Surge said.

Drilling is expected to last for about the next three weeks with initial assay results expected by early August.

Surge shares were last seen up $0,015 to $0.41 on the TSX Venture Exchange.

Price: 0.41, Change: +0.02, Percent Change: +3.80