VANCOUVER, British Columbia, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Global Battery Metals Ltd. (formerly RedZone Resources Ltd) (TSX-V: GBML) (“the Company” or “Global Battery Metals”), at the request of the Investment Industry Regulatory Organization of Canada, wishes to retract certain disclosure in its corporate presentation. Specifically, the disclosure “Could be 400mt at .4% CuEq” constitutes restricted disclosure per NI 43-101, 2.3(1)(a) as the quantity and grade of the “deposit” has not been categorized as an inferred, indicated or measured mineral resource or proven or probable mineral reserve.
In addition, the disclosure of the drill hole intercepts disclosed in the Company’s corporate presentation constitute restricted disclosure as they do not provide a breakdown of the individual metals/minerals that comprise the CuEq calculation. Copper equivalents represent (Cu-Eq%) the value for each metal multiplied by the conversion factor, summed and expressed in equivalent copper grades. These results are exploration results only and no allowance is made for metallurgical recoveries. The conversion factors used were: CuEq (%) was calculated using US$2.80 per pound of copper and US$16 per pound of molybdenum; CuEq = copper % + (Mo% X 5.71428571).
About Global Battery Metals Ltd.
Global Battery Metals is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. Global Battery Metals common shares listed on the TSX Venture Exchange (GBML). Global Battery Metals currently has two projects: 1) an option to acquire up to 100% of the North-West Leinster Lithium property in Ireland, and 3) a 55% stake in Peru based Lara copper property, which has over 10,000 metres of drilling. More information about the Company is available on its issuer profile on SEDAR at www.sedar.com or www.gbml.ca.
For further information, please contact:
Michael Murphy, President and Chief Executive Officer
Sherman Dahl – Pretium Communications
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy and/or accuracy of this release.
Specific information outlined in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, sure of which are beyond the control of the Company, including, but not limited to the potential for gold and/or lithium at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results of future exploration, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of development, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.