# Surge Announces Resource Upgrade at Nevada North: 657.5 Mt Grading @ 3,007 ppm Li Containing 10.5 Mt LCE Measured and Indicated Including 6.7 Mt LCE @ 3,820 ppm Li Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/surge-announces-resource-upgrade-at-nevada-north-657-5-mt-grading-3-007-ppm-li-c--c3cf752b-3703-4d43-af99-567b69beb859 Original source: https://money.tmx.com/en/quote/NILI/news/6776141450697955/surge-announces-resource-upgrade-at-nevada-north-657-5-mt-grading-3-007-ppm-li-c Publisher: tmx Original announcement: 2026-05-14T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Surge Battery Metals Inc. - Ticker: NILI - Exchange: TSX - Region: Nevada - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-14 14:48:51 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Surge Battery Metals Inc. announced a significant resource upgrade for its Nevada North Lithium Project, reporting 657.5 million tonnes grading 3,007 ppm Li, containing 10.5 million tonnes of Lithium Carbonate Equivalent \(LCE\) in the Measured and Indicated categories. This update, following an infill and step-out drilling campaign, successfully converted 87% of the original PEA mine pit into higher-confidence M&I resources and expanded the high-grade footprint. The estimate, prepared by RESPEC and compliant with NI 43-101, establishes a robust foundation for the ongoing Pre-Feasibility Study. Reasoning: The updated Mineral Resource Estimate significantly increases the Measured and Indicated lithium resource to 10.5 Mt LCE, demonstrating strong continuity and scalability, and is compliant with NI 43-101 standards, de-risking the project for the Pre-Feasibility Study. - Positive factor: Measured Resource - Positive factor: Indicated Resource - Positive factor: Category Upgrade - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Cut-off Disclosed - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: PFS-Supporting Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 4 ## Classification and evidence **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The document reports a 'Measured' resource category with 210.8 Mt grading 3,150 ppm Li. Evidence · table > Measured Context: 210.8 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The document reports 'Indicated' and 'Total M&I' resource categories, with the latter being extracted as Indicated. Evidence · table > Indicated Context: 446.7 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The document reports an 'Inferred' resource category with 271.3 Mt grading 2,160 ppm Li. Evidence · table > Inferred Context: 271.3 **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The updated MRE demonstrates an '87% conversion of the PEA mine pit into higher-confidence Measured and Indicated \(M&I\) resource categories'. Evidence · text > 87% conversion of the PEA mine pit into higher-confidence Measured and Indicated \(M&I\) resource categories **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: The Project now hosts a Measured and Indicated Resource of 657.5 million tonnes, implying growth from prior estimates. Evidence · text > The Project now hosts a Measured and Indicated Resource of 657.5 million tonnes **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The MRE contains '10.5 million tonnes of Lithium Carbonate Equivalent \(LCE\)' in M&I, implying growth from prior estimates. Evidence · text > containing 10.5 million tonnes of Lithium Carbonate Equivalent \(LCE\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The MRE was prepared by independent Qualified Persons \('QPs'\) Mr. Jeff Bickel and Mr. Nathan Forsythe of RESPEC. Evidence · text > The independent QPs were Mr. Jeff Bickel, C.P.G., and Mr. Nathan Forsythe, C.P.G., of RESPEC in Reno, Nevada. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The MRE was reported 'in compliance with National Instrument 43-101'. Evidence · text > in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects \(" NI 43-101 "\) **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource is constrained by an optimized pit shell based on a $20,000/t LCE price, utilizing a cut-off grade of 1,250 ppm Li. Evidence · text > utilizing a cut-off grade of 1,250 ppm Li **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: The primary objective of this MRE update was to de-risk the resource for the Pre-Feasibility Study. Evidence · text > The primary objective of this MRE update was to de-risk the resource for the Pre-Feasibility Study **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an 'updated Mineral Resource Estimate' for the Nevada North Lithium Project. Evidence · text > updated Mineral Resource Estimate \("MRE"\) ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/surge-announces-resource-upgrade-at-nevada-north-657-5-mt-grading-3-007-ppm-li-c--c3cf752b-3703-4d43-af99-567b69beb859#fact-resource-facts-0) Nevada North Lithium Project · lithium #### Identity - Project: Nevada North Lithium Project - Commodity: lithium - Region: usa\_nv - Reported Region: Nevada - Ticker: NILI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Jeff Bickel, Mr. Nathan Forsythe - Resource group id: resource:be502fdd83cd0d57a718 #### Resource Data - Category: measured - Tonnes: 210800000 - Grade: 0.66 - Grade Unit: mt - Contained Metal: 3.53 - Contained Unit: mt lce - Cutoff Grade: 1250 - Cutoff Unit: ppm Li #### Prior Estimate - Resource Date: 2026-05-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-14T00:00:00.000Z Reasoning: High-confidence Measured resource with significant contained LCE, supporting the project's economic viability. - Positive factor: Measured Resource - Positive factor: Category Upgrade - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Cut-off Disclosed - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.66 Context: 210.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/surge-announces-resource-upgrade-at-nevada-north-657-5-mt-grading-3-007-ppm-li-c--c3cf752b-3703-4d43-af99-567b69beb859#fact-resource-facts-1) Nevada North Lithium Project · lithium #### Identity - Project: Nevada North Lithium Project - Commodity: lithium - Region: usa\_nv - Reported Region: Nevada - Ticker: NILI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Jeff Bickel, Mr. Nathan Forsythe - Resource group id: resource:9afaea4db796fafadcd7 #### Resource Data - Category: indicated - Tonnes: 446700000 - Grade: 1.31 - Grade Unit: mt - Contained Metal: 6.98 - Contained Unit: mt lce - Cutoff Grade: 1250 - Cutoff Unit: ppm Li #### Prior Estimate - Resource Date: 2026-05-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-14T00:00:00.000Z Reasoning: Substantial Indicated resource with strong contained LCE, contributing significantly to the overall M&I total. - Positive factor: Indicated Resource - Positive factor: Category Upgrade - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Cut-off Disclosed - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 1.31 Context: 446.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/surge-announces-resource-upgrade-at-nevada-north-657-5-mt-grading-3-007-ppm-li-c--c3cf752b-3703-4d43-af99-567b69beb859#fact-resource-facts-2) Nevada North Lithium Project · lithium #### Identity - Project: Nevada North Lithium Project - Commodity: lithium - Region: usa\_nv - Reported Region: Nevada - Ticker: NILI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Jeff Bickel, Mr. Nathan Forsythe - Resource group id: resource:6f41e760c297912ba0a2 #### Resource Data - Category: indicated - Tonnes: 657400000 - Grade: 1.97 - Grade Unit: mt - Contained Metal: 10.51 - Contained Unit: mt lce - Cutoff Grade: 1250 - Cutoff Unit: ppm Li #### Prior Estimate - Resource Date: 2026-05-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-14T00:00:00.000Z Reasoning: Significant total Measured and Indicated resource of 10.51 Mt LCE, representing a major upgrade and de-risking for the project. - Positive factor: Indicated Resource - Positive factor: Category Upgrade - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Cut-off Disclosed - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 1.97 Context: 657.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/surge-announces-resource-upgrade-at-nevada-north-657-5-mt-grading-3-007-ppm-li-c--c3cf752b-3703-4d43-af99-567b69beb859#fact-resource-facts-3) Nevada North Lithium Project · lithium #### Identity - Project: Nevada North Lithium Project - Commodity: lithium - Region: usa\_nv - Reported Region: Nevada - Ticker: NILI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Mr. Jeff Bickel, Mr. Nathan Forsythe - Resource group id: resource:2a3d83e4f45178076faa #### Resource Data - Category: inferred - Tonnes: 271300000 - Grade: 0.59 - Grade Unit: mt - Contained Metal: 3.11 - Contained Unit: mt lce - Cutoff Grade: 1250 - Cutoff Unit: ppm Li #### Prior Estimate - Resource Date: 2026-05-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-14T00:00:00.000Z Reasoning: Substantial Inferred resource provides future growth potential, extending the mineralized footprint beyond previous estimates. - Positive factor: Inferred Resource - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Cut-off Disclosed - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.59 Context: 271.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.