Coniagas Engages Laurentia Exploration for Drill Program on its near surface and extensive Ni-Cu-Co-PGM Massive Sulfide Mineralization Zones at Graal
Coniagas Engages Laurentia Exploration for Drill Program on its near
surface and extensive Ni-Cu-Co-PGM Massive Sulfide Mineralization
Zones at Graal
Vancouver, BC – February 3, 2025 – Coniagas Battery Metals Inc. (TSXV: COS) (“Coniagas” or
the “Company”), is pleased to engage the services of Laurentia Exploration to design and
manage ongoing exploration activities at the Graal property, highlighting the potential of this
strategically located asset near Saguenay-Lac St. Jean, Quebec.
Frank J. Basa, President and CEO, stated, "The prospect of expanding upon known zones and
finding new zones containing nickel, copper, cobalt and PGM at Graal is encouraging from the
results of the completed drill programs. Numerous drill hole intercepts confirm the potential of
Graal property for hosting significant and thick massive sulfides mineralization. We will continue
to add to these results within known mineralized zones to increase our understanding while
stepping out to expand those zones along the defined trends while exploring for new zones.”
Historical Exploration Highlights:
The Company is excited to add to the reported excellent drilling results from the MHY, Gravi and
Discovery zones, confirming shallow, near -surface mineralization. Certain s ignificant drill
intercepts include PGM values added to the equivalents:
MHY Zone: Holes GRL-22-60 and GRL-22-61
▪ GRL-22-60 returned:
o 28.90 m of 1.88% CuEq*, includes 0.73% Nickel (Ni), 0.41% Copper (Cu), 0.09%
Cobalt (Co), 0.04 g/t Platinum (Pt), 0.05 g/t Palladium (Pd)
▪ GRL-22-61 returned:
o 15.90m of 1.67 % CuEq*, includes 0.53% Ni, 0.56% Cu, 0.08% Co, 0.03 g/t Pt,
0.05 g/t Pd
Gravi Zone: Holes NRC-22-24 and GRL-22-57
▪ GRL-22-57 returned:
o 8.40 m of 1.91 % CuEq* includes 0.68% Ni, 0.55% Cu, 0.08% Co, 0.08 g/t Pt,
0.03 g/t Pd
Coniagas Battery Metals Inc.
550 Burrard St. Suite 2900
Vancouver, B.C. V6C 0A3
Coniagas.com
▪ NRC-22-24 returned:
o 33.60 m of 1.11 % CuEq* includes 0.32% Ni, 0.46% Cu, 0.04% Co, 0.03 g/t Pt,
0.02 g/t Pd
Discovery Zone: Holes NRC-21-03 and GRL-22-32
▪ NRC-21-03 returned:
o 5.70 m of 2.23 % CuEq* includes 0.84% Ni, 0.59% Cu, 0.09% Co, 0.03 g/t Pt,
0.03 g/t Pd
▪ GRL-22-32 returned:
o 6.40 m of 1.06 % CuEq* includes 0.41% Ni, 0.26% Cu, 0.05% Co, 0.01 g/t Pd
*For equivalents the prices were taken 202 5-01-24 in USD : Cu $9 ,445.192/tonne, Ni
$15,660.10/ tonne, Co $24,299.35/ tonne, Pt $950.00/oz, Pd $1,002.00/oz. Note that the CuEq
is for total metal content without consideration for recovery and/or metallurgical losses.
Figure 1
Next Steps:
The Company has engaged Laurentia Exploration to design and manage the program while
continuing the permitting process to be able to expand the near surface zones at Graal. This
expansion aims to further delineate the resource potential and enhance the economic viability
of the project.
The Company intends on following up on the geophysical anomaly delineated by TDEM surveys
on the MHY zone that indicated a large conductive layer interpreted to be approximately 1.7km
long with a minimum depth extent of 850m. Due to t he nature and extent of the Graal
mineralization, this survey returned a strong response to this electromagnetic. The Company
plans to use the same method to explore and generate new drill targets between MHY and
Discovery Zones. Several BHEM (Borehole electromagnetic surveys) made in the previous drill
campaign also reveal several other conductors and extension modelled by Maxwell that need
to be tested or delineated.
Currently, the interpreted models indicate a potential for a low-grade, large-volume orebody
with local and smaller but richer and thicker lenses along the mineralized trend, as seen in the
intersection made in drillhole GRL -22-61. This scenario suggests the possibility of having a
large, low-grade starter pit that can evolve to underground mining of the rich higher-grade
pockets.
Strategic Location:
The Graal property boasts an excellent location north of Saguenay-Lac St. Jean, offering several
logistical advantages:
• Year-Round Accessibility: The site is road-accessible and drill-ready throughout the year.
• Proximity to Infrastructure: The nearby Chute-de-Passe power station provides reliable
and cost-effective energy.
• Local Industrial Hub: The town of Lac -St. Jean, an industrial hub, offers a skilled
workforce and port access to the St. Lawrence River.
Qualified Person
The technical information reported in this news release was reviewed and approved by Maxime
Bouchard, Geo, M.Sc. (OGQ #1752), an independent Qualified Person as defined by Canadian
NI 43-101 standards. The Qualified Person has not completed sufficient work to verify the
historical information on the Property, particularly regarding historical drill results. However, the
Qualified Person believes that drilling and analytical results were completed to industry standard
practices. The information provides an indication of the exploration potential of the Property but
may not be representative of expected results.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper
and cobalt and platinum group metals in Québec. Coniagas’ strategy is to create value for
shareholders through the development of its mineral properties, with the intention to develop
Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful
exploration involving geophysics as well as shallow drilling that hit mineralization in almost every
hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high -
grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans
in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource
report, metallurgical testing and consul tations with First Nations. The Graal project and
immediate work plan are outlined in detail in the “NI 43-101 Technical Report Graal Nickel &
Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada” dated January 17, 2024. The report
is available along with other information at the Company’s website https://coniagas.com/
“Frank J. Basa”
Frank J. Basa, P . Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P . Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: [email protected]
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in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals
Inc. (“Coniagas” or the “Company”) 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 the Coniagas trading on the TSX Venture
Exchange, resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, avail ability of funds, and others are forward -looking. No
assurance can be given that any of the foregoing will be achieved. 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. The Company does not undertake to update any
forward-looking information in this news release or other communications unless required by
law.