Battery Mineral Resources Announces Further Encouraging Drill Results from the Cinabrio Norte Target at Its Punitaqui Copper MINE IN Chile
BATTERY MINERAL RESOURCES ANNOUNCES FURTHER ENCOURAGING
DRILL RESULTS FROM THE CINABRIO NORTE TARGET AT ITS PUNITAQUI
COPPER MINE IN CHILE
Vancouver, British Columbia – (March 15, 2022) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB: BTRMF) ("Battery" or “BMR” or the "Company") is extremely
pleased to announce encouraging drill core assay results from the ongoing 2021
exploration and infill drill program focused on extensions of the Cinabrio orebody, the
Dalmacia target and San Andres targets within the Punitaqui mine complex
(“Punitaqui”) in Chile.
Punitaqui is slated for resumption of copper concentrate production in Q4-2022. The
Cinabrio Norte target represents a potential northern extension of the main Cinabrio
mine orebody, which historically was the primary source of ore feed to the Punitaqui
copper ore concentration plant for eight-plus years (see Figure 1).
Highlights
• At Cinabrio Norte, 29 holes have been completed for 6,192 meters (“m”) and
drilling is ongoing with three diamond drills.
• Significant visual copper mineralization has been recorded in 17 of the first 29
holes.
• The initial phase 1 program of step-out holes has been expanded from 24 holes
(3,600m) to 48 holes, totaling 9,000m which will test 400m of strike length to a
depth of 330m.
• Assay results have been returned with encouraging results as follows (see Table
1):
o CNN-22-07: 41.5 meters (“m”) at 1.36% Copper (“Cu”);
o CNN-21-02: 13m at 1.36% Cu including 7.6m at 2.08% Cu;
o CNN-22-01: 26m at 1.28% Cu;
o CNN-22-06: 15m at 1.24% Cu;
o CNN-21-11: 7m at 1.21% Cu;
o CNN-21-06: 53m at 0.91% Cu including 20.8m at 1.14% Cu;
o CNN-21-07: 9.7m at 0.70% Cu;
o CNN-22-09: 25m at 0.65% Cu.
Battery CEO Martin Kostuik states; “We are continuing to produce encouraging results
from the identified targets at our former producing Punitaqui copper mine in Chile .
These initial step-out drillhole results at the Cinabrio Norte target have confirmed the
strike and down dip extent and thickness of the Targeted Stratigraphic Unit, as well
as the fact that it hosts significant copper sulphide mineralization . Cinabrio Norte is
about 100 meters north of the original Cinabrio deposit which was the primary source
of copper feed to the Punitaqui mill for 8-plus years. This new target still remains to
be largely untested and has the potential to provide the Company with an additional
source of copper mineralization as ore feed for the Punitaqui processing plant.
The development of Punitaqui towards a restart is progressing well on all fro nts,
including drilling, engineering and permit modifications . We look forward to the
potential of these latest assay results for the Cinabrio Norte Target contributing to
the forthcoming restart plan for the mine as we progress towards a potential near-
term resumption of operations and cashflow at Punitaqui”.
Cinabrio Norte Drill Program
With the phase 1 drill programs at San Andres and Dalmacia completed, the drilling
focus has shifted to Cinabrio Norte with three diamond drills in operation. The
Cinabrio Norte phase 1 drill test ing will follow-up on a limited number of historic
drillholes that targeted the northern extension of the Cinabrio orebody. The historic
exploration drilling confirmed that the favorable ta rgeted stratigraphic unit (“TSU”)
that hosts the copper mineralization within the Cinabrio orebody extends to the north.
The TSU has been mapped along a north-south strike from the mine. Importantly,
the Cinabrio Norte target is only 110m north of the Cina brio underground
workings on level 200m. Historic hole CNS -20-01, drilled in 2020 by the prior
operators, was drilled completely within the TSU resulting in multiple mineralized
intercepts and, most importantly, confirmed the presence of TSU for over 200m of
strike length with significant copper sulphide mineralization (CNS-20-01: 48m at
0.64% Cu, 3m at 0.47% Cu and 6m at 0.45% Cu).
The current drilling is planned as a series of step -out holes to test the TSU 400m
along strike (north-south) to a depth below surface (“down-dip”) of 330m. To date,
29 holes have been completed totaling 6,192m. Significant v isual copper
mineralization has been recorded in 17 of the first 29 holes. This program has been
expanded to 48 holes totaling 9,000m. Complete assay results were recently received
for 18 holes: CNN-21-01 to CNN-21-12 as well as CNN-22-01, 02,04, 05, 06, 07 and
09 (see Figure 1 and Table 1).
These initial step-out drillhole results have largely confirmed the strike extent, down-
dip extent and thickness of the TSU and also verified that it hosts significant copper
sulphide mineralization.
Drillhole CNN-21-01 was designed as a step-out hole to test the TSU 70m down-
dip from historic hole CNS -20-04 (14m at 0.74% Cu). The new hole successfully
intersected 29m of the TSU and returned a copper mineralized zone of 2.9m at
1.11% Cu from 162m downhole and indicates a potential extension of the TSU down-
dip.
Drillhole CNN-21-02 was planned as a step-out hole to test the drilling gap in the
TSU south of historic hole CNS-20-01 collar. This hole intersected significant copper
mineralization of 13m at 1.36% Cu from 206m downhole including 4.6m at 3.01%
Cu from 211.4m downhole. This hole confirmed that copper mineralization extends
north from Cinabrio into the Cinabrio North target.
Drillhole CNN-21-03 was drilled in the up-dip portion of the southwest corner of
the target zone west of historic hole CNS-20-02 (3m at 0.91% Cu from 82m). The
hole was designed as a 30m vertical step-out from the surface exposure of the TSU.
The hole cut a 12m section of the targeted sediment s that were dominantly
sandstones. A narrow zone of disseminated copper sulphides yielded a 1.8m at
0.60% Cu from 53m downhole.
Drillhole CNN-21-04 was planned to test the TSU 40m down-dip from the historic
intercept in CNS -20-04 (14m at 0.74% Cu ) in the s outhern part of the Cinabrio
Norte target. The hole cut a 4m section of sediments consisting of sandstones with
some interbedded shales that returned an assay interval of 1.2m of 0.98% Cu from
127.8m downhole. A second , narrow anomalous zone of 1.9m at 0.77% Cu from
137m. The two mineralized interval s are interpreted to successfully represent the
downdip continuation of the CNS-20-04 intercept.
Drillhole CNN-21-05 was designed to test the TSU 60m down-dip from the deeper
historic intercepts in CNS -20-01 (3m at 0.47% Cu and 6m at 0.45% Cu ) in the
central part of the Cinabrio Norte target. The hole intercepted a 16m section of the
sandstones and interbedded shales within which an assay interval of 2.5m at 0.46%
Cu from 130m downhole was encountered. The new hole successfully confirmed the
targeted stratigraphy extends downdip with anomalous copper sulphides associated
with the shaley interbeds.
Drillhole CNN-21-06 was drilled as a 200m step -out to the north of hist oric hole
CNS-20-01 targeting the TSU in the northern part of the Cinabrio Norte zone to test
the TSU 120m downdip from the surface outcrop zone. The steeply inclined hole cut
a wide 85m section of sediments consisting of sandstones with some interbedded
shales. This new hole yielded a mineralized intercept of 53m at 0.91% Cu from 92m
downhole that included 20.8m at 1.14% Cu from 94.2m. The hole was successful
in confirming the presence of the favorable stratigraphic unit that hosted significant
copper sulphide mineralization over broad intervals. Subsequent holes to the south,
east and northeast of CNN -21-06 also intersected broad zones of mineralized
sediments. These include CNN-21-11 (25m south), CNN-22-06 (40m east) and CNN-
22-07 (50m northeast).
Drillhole CNN-21-07 targeted a 60m up-dip extension of the anomalous intercept
in CNN-21-05 (2.5m at 0.46% Cu) in the central part of the Cinabrio Norte target.
A 12m interval of the TSU was encountered that assayed 9.7m at 0.70% Cu from
92.3m including 3.7m at 1.35% Cu from 92.3m. This hole confirmed that narrow
zones of variable grade mineralization are located in the central part of the target
area. Hole CNN -22-02 located 50m down dip from CNN -21-07, intersected 2m of
0.55% Cu.
Drillhole CNN-21-08 was designed as a 40m down -dip step -out of the TSU
projected to the north under recent alluvial cover. Below cover, the hole encountered
a 100m section of strongly sheared volcanics followed by the footwall andesites. The
targeted TSU is now interpreted to be displaced to the west by the same low angle
northwest dipping fault encountered in CNN-22-03.
Drillhole CNN-21-09 was drilled from the same collar position as CNN-21-07 in the
central part of the Cinabrio Norte Target. This hole was planned as a 40m down-dip
test of the mineralization in historic hole PZ-1 (9m at 0.87% Cu). A 50m section of
the TS U was successfully encountered with visible copper sulphides noted in the
upper part of the intercept that yielded a 2.4m interval grading 0.73% Cu from 82m
downhole.
Drillhole CNN -21-10 was drilled from the same platform as CNN -21-12 in the
southern part of the Cinabrio Norte target. This vertical hole was a 150m down -dip
test of the mineralization drilled in CNN -21-07 (9.7m at 0.70% Cu). A 9m section
of sandstones and shales noted with patchy disseminated chalcopyrite – bornite
mineralization. An assay of 9.4m at 0.48% Cu from 253.4m including 2.7m at
0.80% Cu from 253.4m were returned . CNN-21-10 confirmed mineralized
sedimentary rocks extend down dip in the central part of the targ et area. The
mineralization encountered is open at depth.
Drillhole CNN-21-11 collared in the northern part of the target, from the same
collar position as CNN-22-01, 04, 06 and 08 and was planned as a 200m down-dip
test of the TSU from the surface outcro p. The hole cut 60m of interlayered shales
and sandstone with copper mineralization . Significant intervals include 7.0m at
1.21% Cu from 157m and 10m at 0.62% Cu from 210m and this confirms the
continuity of mineralization at depth. CNN-21-11 extends the mineralization
encountered in CNN-21-06 40m down dip.
Drillhole CNN -21-12 was drilled from the same platform as CNN -21-07 in the
southern part of the Cinabrio Norte target. The hole was a 300m down-dip test from
the TSU surface exposure. Ten meters of shales and sandstones with disseminated
chalcopyrite mineralization was encountered and yielded an assay interval of 1.7m
at 0.44% Cu from 277.6m which confirms the mineralization is present at depth.
Drillhole CNN-22-01 collared in the northern part of the target, from the same
collar position as CNN-22-04, 06 and 08 and targeted the TSU down -dip and north
of CNN -21-06 ( 20.8m at 1.14% C u). The targeted interval produced a broad
intercept of 26m at 1.28% Cu from 167m confirming the down -dip and northern
extent of the copper mineralization. The hole extended a thick zone of mineralization
60m down dip from CNN-22-04 and 40m north of CNN-21-11.
Drillhole CNN-22-02 was drilled in the central part of the Cinabrio Norte target and
was collared from the same platform as CNN-21-10 and 12 as a 50m down-dip test
of the intercept in CNN -21-07 ( 3.7m at 1.35% Cu ). The hole successfully
intersected 18m of weakly mineralized TSU. The interval produced an assay of 2m
at 0.55% Cu from 163m.
Drillhole CNN-22-03 collared in the northeast part of the target, on the same
platform as CNN -21-06, 08 and CNN-22-05 was planned as a northwest step-out
from CNN-21-06 and designed to inters ect the TSU 150m downdip from surface . A
25m section of strongly sheared TSU was encountered . The shearing is interpreted
the same low angle northwest dipping extensional fault which offset the TSU in CNN-
21-08. No significant copper sulphides were noted.
Drillhole CNN-22-04 drilled in the northern part of the target, from the same collar
position as CNN-22-01, 06 and 08 and targeted a 50m down-dip step-out from the
CNN-22-03 in which the TSU was faulted out. This new hole cut a 33m section of the
favorable TSU stratigraphy with copper sulphides resulting in two mineralized
intervals; 7.7m at 0.93% Cu from 163m and 4m at 1.27% Cu from 163m. The
hole confirmed that mineralized TSU is present below the extensional fault
encountered in CNN-22-03.
Drillhole CNN -22-05 collared in the northeast part of the target, on the same
platform as CNN-21-06, 08 and CNN-22-03, was designed as a 120m down-dip step-
out from the surface TSU outcrop. A 50m section of the TSU was intersected with
copper sulphides noted in the upper and lower parts of the TSU drilled. The upper
part of the TSU is faulted, and it is interpreted that s ome of the TSU in CNN -22-05
has been faulted out by extensional faulting. Two mineralized intercepts reported of
2.9m at 1.68% Cu from 102.1m downhole and 3.1m at 0.80% Cu from 150m
correlate with the two intervals of visible sulphide mineralization.
Drillhole CNN-22-06 drilled in the northern part of the target, from the same collar
position as CNN-22-01, 04, and 08 was planned as a 40m down-dip test of the copper
mineralization cut in CNN-21-06 (20.8m at 1.14% Cu). The new hole successfully
intersected a 78m interval of the TSU consisting of sandstone with shale interbeds.
The best mineralization was reported from the upper portion of the TSU 15m at
1.24% Cu from 145m downhole. This hole confirmed the continuity of mineralization
that was seen between CNN-21-06, CNN-21-11 and CNN-22-07.
Drillhole CNN-22-07 collared in the northern part of the target, was drilled from
the same drill pad as CNN -21-06 and 08. The objective was to test the TSU 50m
south of the mineralization intersected in CNN -21-06 (20.8m at 1.14% Cu ) and
CNN-22-06 (assays pending). An 88m section of the TSU was drilled that yielded
41.5m at 1.36% Cu from 169m showing that significant minerali zation occurs
between CNN-21-06 (51m at 0.91% Cu) and CNN-21-05 (2.5 m at 0.46% Cu).
Drillhole CNN-22-09 collared on -section to the east of hole CNN -21-05 in the
central part of the Cinabrio Norte target was designed as a 40m downdip follow-up
of historic hole PZ-1 (9m at 0.87% Cu). A 40m section of the TSU was intersected
of oxide and sulphide copper mineralization that yielded two significant assay
intervals 5m at 0.72% Cu from 36m downhole and 6m at 0.85% Cu from 51m.
This mineralization is the down-dip continuation of the PZ-1 intercept and interpreted
as part of a continuous zone of mineralization extending from drillhole CNN -22-07
40m to the north (41m at 1.36% Cu).
Table 1: Cinabrio Norte Exploration Drill Intercepts
Hole Number From
(m)
To
(m)
Sample
Interval
(m)
Copper
(Cu%)
Silver
(Ag
g/t)
CNN-21-01 162 164.9 2.9 1.11 2.0
CNN-21-02 206 219 13 1.36 5.3
including 211.4 219 7.6 2.08 5.7
and 211.4 216 4.6 3.01 8.2
CNN-21-03 53 54.8 1.8 0.60 2.2
CNN-21-04 127.8 138.9 11.1 0.32 1.1
including 127.8 129 1.2 0.98 7.2
and 137 138.9 1.9 0.77 1.0
CNN-21-05 130 132.5 2.5 0.46 0.8
CNN-21-06 92 145 53 0.91 2.8
including 94.2 139 44.8 0.98 2.7
including 94.2 115 20.8 1.14 2.3
and 121 128 7 1.16 4
CNN-21-07 92.3 102 9.7 0.70 5.2
including 92.3 96 3.7 1.35 11.1
and 100 102 2 0.72 3.8
CNN-21-09 82 84.4 2.4 0.73 5.9
CNN-21-10 253.4 262.7 9.4 0.48 6.0
including 253.4 256 2.7 0.80 7.5
CNN-21-11 157 164 7 1.21 3.0
including 200 203 3 0.76 3.8
and 210 220 10 0.62 9.2
CNN-21-12 277.6 279.3 1.7 0.44 6.3
CNN-22-01 167 193 26 1.28 15.2
CNN-22-02 163 165 2 0.55 3.7
CNN-22-04 163 170.7 7.7 0.93 2.3
including 163 167 4 1.27 2.6
CNN-22-05 102.1 105 2.9 1.68 9.1
including 150 153.1 3.1 0.80 2.8
CNN-22-06 145 160 15 1.24 4.5
including 202 208 6 0.46 12.3
CNN-22-07 83.5 125 41.5 1.36 3.5
including 169 190 21 0.42 3.3
and 169 170.7 1.7 1.54 6.8
CNN-22-09 36 61 25 0.65 4
including 36 41 5 0.72 6.4
and 51 57 6 0.85 3.5
Note: All intervals are downhole lengt
Figure 1: Cinabrio Norte Drill Collar Plan (2021 completed holes in green, historic holes in
grey and holes” in progress” in red)
Quality Control
Sample preparation, analysis and security procedures applied on the BMR exploration
projects is aligned with industry best practices. BMR has implemented protocols and
procedures to ensure high-quality collection and management of samples resulting
in reliable exploration assay data. BMR has implemented form al analytical quality
control monitoring for all field sampling and drilling programs by inserting blanks and
certified reference materials into every sample sequence dispatched.
Sample preparation is performed by ALS Global - Geochemistry Analytical Lab in La
Serena, Chile and sample analyses by ALS in Lima, Peru. ALS analytical facilities are
commercial laboratories and are independent from BMR. All BMR samples are
collected and packaged by BMR staff and delivered upon receipt at the ALS
Laboratory. Samples are logged in a sophisticated laboratory information
management system for sample tracking, scheduling, quality control, and electronic
reporting. Samples are dried then crushed to 70% < -2 millimeters and a riffle split
of 250 grams is then pulverized to 85% of the material achieving a size of <75
microns. These prepared samples are then shipped to the ALS Laboratory in Lima
Peru for analyses by the following methods:
• ME-ICP61: A high precision, multi -acid digest including Hydrofluoric, Nitric,
Perchloric and Hydrochloric acids. Analysed by inductively coupled plasma
(“ICP”) mass spectrometry that produces results for 48 elements.
• ME-OG62: Aqua -Regia digest: Analysed by ICP -AES (Atomic Emission
Spectrometry) or sometimes called optical emission spectrometry (ICP -OES)
for elevated levels of Co, Cu, Ni and Ag.
Certified standards are inserted into sample batches by ALS. Blanks and duplicates
are inserted within each analytical r un. The blank is inserted at the beginning,
certified standards are inserted at random intervals, and duplicates are analysed at
the end of the batch.
Additional Information
Michael Schuler, Battery Mineral Resources Corp. Chile Exploration Manager,
supervised the preparation of and approved the scientific and technical information
in this press release pertaining to the Punitaqui Exploration Drill Program. Mr. Schuler
is a qualified person as defined by National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects.
About Battery Mineral Resources Corp.
A battery mineral company with high-quality assets providing shareholders exposure
to the global mega-trend of electrification and focused on growth through cash-flow,
exploration, and acquisitions in the world's top mining jurisdictions. Battery is
currently developing the Punitaqui Mining Complex and pursuing the potential near-
term resumption of operations for the second half of 2022 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 in the Coquimbo
region of Chile.