Battery Mineral Resources Announces 17 Metres Assaying 0.70% Cobalt, 2.12 % Copper, and 0.58 G/T GOLD from Its Bonanza Project, Idaho Cobalt Belt, USA
BATTERY MINERAL RESOURCES ANNOUNCES 17 METRES ASSAYING 0.70%
COBALT, 2.12 % COPPER, AND 0.58 g/t GOLD FROM ITS BONANZA
PROJECT, IDAHO COBALT BELT, USA
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Vancouver, British Columbia – (June 11, 2021) – Battery Mineral Resources Corp.
(TSXV: BMR) (" Battery" or the " Company") is pleased to announce exploration
results from its 100% owned Bonanza Project within the Idaho Cobalt Belt, USA.
Sample Results
Battery collected 92 continuous chip samples following mineralization exposed in one
of three underground workings testing mineralization along a 2km strike. Sampling
intercepted the following:
• 2 meter (“m”) channel assaying 2.58 percent cobalt (“% Co”), 2.7 percent
copper (“% Cu”), and 1.14 gram per tonne gold (“g/t Au”), and
• 17m with a weighted average of 0.70% Co, 2.12% C u, and 0.58 g/t Au ,
including a 1m channel assaying 5.51% Co, 1.0% Cu, and 1.28 g/t Au;
• Five additional 1.0 metre-long channel samples ranged from 0.25% to 5.0%
Co, and assays up to 6.91% Cu and 3.57 g/t Au.
Background
The Bonanza Project encloses an area of widespread cobalt mineralization, first
recognized in the late 1800’s as a mineralized horizon offset by faulting from the
Blackbird mining district immediately to the southeast, which includes Jervois
Mining’s Ram Deposit, at the former Blackbird Cobalt Mine, which hosts a Reserve of
2.5 million tonnes of 0.55% Co, 0.8% Cu, and 0.64 g/t Au for 30 million pounds of
contained cobalt and is currently under construction.
Production from the Blackbird Mine area during 1950 -1980 led to district -scale
exploration which, at Bonanza, included the development of several adits, trenches
and surface sampling. Historic drilling reported several mineralized intersections
ranging up to 1.5 metre of 0.76% Co and 5.15% Cu and select rock samples reaching
from 1.1% - 4.57% Co.
To date, Battery has collected 712 grid -spaced soil and 45 rock samples from its
Bonanza Project submitted to ALS laboratories in Vancouver, BC for analysis. The
samples outline an approximate 2,000 metre-long by 700 metre-wide area of highly
anomalous copper and cobalt mineralization.
An additional 3.2 line-kilometre of ground induced polarization line surveys and 550
line-kilometre of airborne magnetic and radiometric surveys from the Project
delineate the trend of anomalous mineralization and provide confidence supporting
several drill targets.
The assay results confirm the high potential of the Bonanza Project to host a
substantial volume of stratibound mineralization, interpreted as a structurally -
displaced block within the principle epicenter for cobalt and copper mineralization in
the entire Idaho Cobalt Belt, and represents a significant drill-ready target for future
exploration programs.
Additionally, BMR is in receipt of a positive NEPA review and may initiate drilling of
its Bonanza project.
As a matter of procedure, a rigorous on -site quality assurance and quality control
program was implemented that included the insertion of blanks, standards and
duplicates within the samples to ensure reliable assay results.
Commenting on the results, Mr. Kostuik stated: "Our 100%-owned Bonanza Project
is an under-explored battery metals opportunity sitting adjacent to Noranda’s former
Blackbird cobalt -copper mine, with in the most productive cobalt belt in North
America. The grades and extent of mineralization are very encouraging and the
Company is looking forward to receipt of our drill permit within Q2 of 2021. The
Bonanza Project is an excellent opportunity to meet cri tical demands for the
electrification of our future."
The technical information contained in this press release has been reviewed and
approved by Scott Close, M.Sc, P.Geo, and a Qualified Person as defined by National
Instrument 43-101.
About Battery Mineral Resources Corp.
Battery is a multi-commodity resource company which provides investors with
exposure to the world -wide trend towards electrification . Battery is engaged in the
discovery, acquisition, and development of battery metals (cobalt, lithium, graphite,
nickel & copper), in North and South America and South Korea with the intention of
becoming a premier and sustainable supplier of battery minerals to the electrification
marketplace. Battery is the largest mineral claim holder in the historic Gowganda
Cobalt-Silver Camp, Canada and continues to pursue a focused program to build on
the recently announced, +1 million pound cobalt resource at MaCara by testing over
50 high-grade primary cobalt silver-nickel-copper targets. In addition, Battery owns
100% of ESI Energy Services, Inc., a pipeline equipment rental and sales company
with operations in Leduc, Alberta and Phoenix, Arizona. Finally, Battery is currently
developing the Punitaqui Mining Complex, and pursuing the potential near term
resumption of operations at the prior producing Punitaqui copper -gold mine. The
Punitaqui copper-gold mine most recently produced approximately 21,000 tonnes of
copper concentrate in 2019 and is located in the Coquimbo region of Chile.
For further information, please contact:
Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: [email protected]
The securities offered pursuant to the Private Placement have not been, and will not be, registered under
the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and
may not be offered or sold in the United States or to, or for the account or benefit of, United States persons
absent registration or any applicable exemption from the registration requirements of the U.S. Securities
Act and applicable U.S. state securities laws. This news release shall not constitute an o ffer to sell or the
solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities
in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Statements
This news rele ase includes certain “forward -looking statements” under applicable
Canadian securities legislation. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Forward-looking statements reflect the beliefs,
opinions and projections of the Company on the date the statements are made and
are based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or achievements to be
materially different from the results, performance or achievements that are or may
be expressed or implied by such forward -looking statements and the parties have
made assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation, the abi lity of the Company to obtain sufficient
financing to complete exploration and development activities, risks related to share
price and market conditions, the inherent risks involved in the mining, exploration
and development of mineral properties, government regulation and fluctuating metal
prices. Accordingly, readers should not place undue reliance on forward -looking
statements. Battery undertakes no obligation to update publicly or otherwise revise
any forward -looking statements contained herein whether as a result of new
information or future events or otherwise, except as may be required by law.