Grid Battery Metals (TSXV:CELL) is focused on nickel and lithium – two battery metals forecasted to experience rapid growth over the coming decade as the EV and battery sectors expand. The company has its Grid Nickel Group Project in British Columbia and several lithium projects in Nevada.
Grid Battery Metals CEO Tim Fernback gives The Market Herald Canada the details on the company and its project portfolio.
TMH: What does the company do?
Fernback: Grid is a Canadian-based mineral exploration company that has a focus on a couple different things, electric vehicle battery metals, specifically lithium and nickel currently but we’re also looking to work only in these mining-friendly jurisdictions where good investments are possible and a lot of good work crews are there. So Nevada and British Columbia are two places that we operate in.
TMH: Sounds like Grid is well-diversified and operating in well-known, mining-friendly jurisdictions. Before we dive into the details of those exploration targets, can you give us some background on your experience, work history and that of Grid’s management team?
Fernback: I’ve been in the mineral exploration space for over 20 years and financing startup companies such as Grid Battery Metals for over 25 years, and our team has been together as a group for 15-plus years. So our geologists, our corporate team, all of our advisors and board of directors. We’ve gone on to be founding members of other companies, such as Surge Battery Metals, and we’ve gone on to find good deposits in Nevada and other places in the world and now we’re looking to do the same thing with Grid Battery Metals.
TMH: Getting back to Grid’s portfolio, tell us about Grid’s current exploration targets.
Fernback: So we are rapidly looking at different exploration properties in Nevada. We have three really good projects in Nevada. The first one is the Texas Spring project which is just south of the Surge Northern Nevada Lithium Project, which has at least shown results over 5,000 ppm lithium on their property to date. So it’s really high value of lithium there. We’re looking to get to the same point with our projects just south of there where we believe the trend continues for lithium production and exploration. And then we have our Volt Canyon property in the Monitor Valley. We’re looking to do some exploration work on that project this year and then we’ve had the Clayton Valley property near Pure Energy and Albemarle’s Silver Peak mine for a number of years, and of course that’s the only producing lithium deposit North America as everyone knows.
TMH: With Nevada being the epicentre of lithium mining, can you prioritize the focus of what’s going on with these projects?
Fernback: We’ve put together the Texas Spring property this year. We’re looking to do the basic exploration on it. We believe that there’s going to be some really good results out of that project. We have our team on the ground right now doing soil sampling, geophysics and geochem. We should have the results of that later on in the fall of this year and then we also will be on the Volt Canyon property as well, doing the same sort of thing, a very narrow grid for soil sampling and we’ll be doing some geophysics and geochem as well. We’re really trying to get our drill targets ready for the upcoming exploration season.
TMH Adding to the recent acquisition of the Texas Spring property, can you give us an update on Grid’s most recent financings, and what the company’s balance sheet looks like?
Fernback: Grid is very fortunate to have a really strong balance sheet. We not only have completed two financings of close to $5 million for the company recently but we also have a number of marketable securities on our balance sheet. So in addition to the cash balance of $3 (million) or $4 million on our balance sheet, right now we have about $5 million in marketable securities that we have through some of our property dispositions that we’ve done over the years.
TMH: What is next for Grid?
Fernback: We’re gearing up for 2023-2024 exploration season. So we’re well-financed for the next two years and we’re looking to really grow shareholder value. We’ve been doing that our whole careers and we’re looking to do that now with our Grid Battery Metals company.
For more information on Grid Battery Metals, check out gridbatterymetals.com.
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