Battery Mineral Resources Announces Intercept of 102 Meters Grading 1.41% Copper, at Dalmacia Target at Its Punitaqui MINE
BATTERY MINERAL RESOURCES ANNOUNCES INTERCEPT OF 102 METERS
GRADING 1.41% COPPER, AT DALMACIA TARGET AT ITS PUNITAQUI MINE
Vancouver, British Columbia – (January 25, 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 on-going 2021
exploration and in-fill drill program focused on extensions of the Cinabrio orebody ,
the Dalmacia and San Andres targets within the Punitaqui mine complex (“Punitaqui”)
in Chile. Punitaqui is slated for resumption of copper concentrate production in mid
to late-2022.
Dalmacia is in the southern portion of the Punitaqui area about 6 kilometers south of
the Punitaqui copper processing plant. The Dalmacia target has underground mining
access, partially delineated mineralized zones and is targeted as a potential new
source of ore feed to the Punitaqui ore concentration plant (see Figure 1).
Highlights
• At Dalmacia, a total of 6,504 meters in 33 holes have been completed and drilling
continues. New assay results include the following drillholes (see Table 1):
o DS-21-08: 102 meters (“m”) grading 1.41 percent copper (“% Cu”)
including 78m at 1.67% Cu and 16m at 3.52% Cu;
o DS-21-11: 24m at 1.04% Cu including 6m at 1.95% Cu;
o DS-21-12: 11m at 0.82% Cu;
o DS-21-13: 18m at 1.61% Cu and 12m at 2.13% Cu;
o DS-21-14: 15m at 1.16% Cu and 9m at 1.53% Cu;
o DS-21-16: 8m at 5.29% Cu and 8m at 3.53% Cu.
▪ Four diamond drills in operation at Punitaqui – two drills at Dalmacia and two drills
at Cinabrio Norte (a potential extension of the Cinabrio orebody).
▪ At San Andres, the Phase 1 program resulted in the completion of 8,156m of
drilling in 38 holes. All samples have been dispatched for analysis with assay
results pending for the final six holes. An update of the 3D geological model is
being completed which will be followed by a resource estimate by JDS Energy and
Mining. A sample of previously published results include the following drillholes:
o SAS-21-03: 11m at 1.39% Cu;
o SAS-21-04: 16.7m at 1.37% Cu;
o SAS-21-14: 12.8m at 1.44% Cu;
o SAS-21-21: 13m at 0.96% Cu;
o SAS-21-27: 11m at 2.16% Cu;
o SAS-21-29: 16m at 1.49% Cu.
Battery CEO Martin Kostuik states ; “ These drilling results, particularly from our
Dalmacia target, are far better than expected. 102 meters of 1.41 percent copper is
an outstanding result as we continue piece together this untapped area of Punitaqui.
We are very pleased with the progress of the Dalmacia drill program which is shaping
up to give Dalmacia strong potential to be a significant contributor to the future of
the Punitaqui mine. Continued results like these leading to the planned restart of our
former producing Punitaqui copper mine in Chile will give our investors an opportunity
to participate in a potentially significant re-rating in BMR’s valuation as we transition
from development to operations and positive cash flow. We look forward to providing
further exciting updates from the drill program as we continue to progress.”
Punitaqui Copper Mine
Punitaqui is a former producing copper mine located in the Coquimbo region of Chile
with an eight -plus year operating history within which up to 25 million pounds of
copper in concentrate were produced annually. Punitaqui was acquired by BMR via a
private placement equity financing closed on July 13, 2021. BMR began developing
the project immediately by initiating a drilling program, operating and environmental
permit modifications and engineering studies with the intention of restarting copper
production in 2022.
Dalmacia Drill Program
The Dalmacia target is in the southern portion of the Punitaqui area about 6
kilometers south of the Punitaqui processing plant ( see Figure 1 ). The first drilling
occurred in 1993-1994 when 49 reverse circulation (“RC”) holes totaling 9,972m were
completed. Historic exploration dr illing at Dalmacia North has been completed at a
grid spacing of 25m x 25m , and 15m x 15m at Dalmacia South. Prior to the 2021
program, 229 drill holes (98 RC holes and 131 diamond core holes) had been drilled
for a total of 53,294m.
The geological setting of the Dalmacia target is different from the Cinabrio orebody
which is located 20 kilometers to the north. Dalmacia is situated within a roof-pendant
of volcanic rocks, with minor calcareous intercalations of Middle to Upper Jurassic
age. This volcano-sedimentary complex is intruded by younger aged granites located
in a reverse fault.
Copper-gold mineralization is related to regional structures and deformation zones,
developed in the contacts between granite, sub-volcanic andesitic porphyry intrusives
and volcano-sedimentary rocks. Controls on mineralization include small scale shear
zones, intrusive contacts, vesicular andesites and alteration zones . These controls
have different geometries leading to complex orebody shapes. High grade copper
mineralization occurs in small high -grade pods which locally occur in clusters
enveloped in low grade mineralization.
The upper portion of the Dalmacia target is accessed via a portal and an underground
ramp with limited level development. The current Phase 1 drill program is designed
to infill and confirm the continuity of mineralization between previous drilling and
includes a series of step-out holes to test the potential adjacent to the main zone of
copper-gold-silver mineralization as defined by historic drilling.
To date, a total of 6,504 meters in 33 holes completed with an additional 5 holes /
600m of infill and step out drilling is planned to complete the Phase 1 program (see
Figure 2). Complete assay results were recently received for seven holes: DS-21-08,
DS-21-10, DS-21-11, DS-21-12, DS-21-13, DS-21-14, and DS-21-16 (see Table 1).
A summary of the target rationale and results for these new drillholes is below.
Drillhole DS-21-08 was designed as an infill hole to test
the up-dip extent of mineralization intersected in historic
hole DAL-20 (27m at 0.91% Cu) and DS -14-17 (27m
at 1.84% Cu) and the down -dip extent of mineralization intersected in DS-11-08
(12.6m at 2.12% Cu). The new hole intersected both disseminated and veinlet
chalcopyrite and bornite between 48 – 140m downhole. Significant mineralized zones
included 102m at 1.41% Cu from 48m downhole including 78m at 1.67% Cu and
16m at 3.52% Cu The up-dip test found minor mineralization and the down-dip test
successfully intersected strongly mineralized copper of both disseminated and veinlet
chalcopyrite and bornite between . Sizable and strongly mineralized zones included
102m at 1.41% Cu from 48m downhole including 78m at 1.67% Cu and 16m at
3.52% Cu. The DS-21-08 intersection is made up of 5 different high-grade zones
within a broader section of moderately to weakly mineralized host rock. The
mineralization is interpreted as contiguous and can be correlated with intersections
in nearby, adjacent historic drillholes. The results clearly demonstrate that these
higher-grade zones interspaced with moderately to weakly mineralized copper
mineralization represent a viable target model for fu ture resource definition drilling
at Dalmacia. Close spaced drilling is required to define potential copper resources.
with unmineralized to moderately mineralized rock in between the high-grade pods.
Drillhole DS -21-10 was drilled as a vertical step-out hole angled under surface
workings. The hole intersected variably altered andesites with 0.1% – 1% pyrite and
0.01% - 0.05% copper. A high-grade copper intercept was reported from a vein zone;
2m at 2.40% Cu from 138m downhole.
Drillhole DS-21-11 successfully tested the area 18 meters below and west of historic
intercept DAL-32 (17m at 2.17% Cu). Mineralized intercepts include 2m at 1.14%
Cu from 59m downhole, 24m at 1.04% Cu from 78m including 10m at 1.06% Cu
from 78m and 4m at 1.60% Cu from 78m and an intercept of 6m at 1.95% Cu
from 96m.
Drillhole DS-21-12 is an infill hole designed to test the area 15 meters above an
intercept in historic hole DAL-32 (17m at 2.17% Cu ). The hole cut moderate
chalcopyrite-bornite mineralization above the historic intercept. Results include 5m
at 0.62% Cu from 116m downhole, 2m at 0.95% Cu from 143m and 11m at
0.82% Cu from 161m.
Drillhole DS-21-13 successfully tested a “drilling gap” between historic hole DS -11-
10 that intersected weak, copper mineralization and historic hole SD -08 ( 8m at
1.86% Cu). Mineralized intercepts include 18m at 1.61% Cu from 44m downhole,
12m at 2.13% Cu from 135m downhole including 8m at 2.95% Cu and an interval
48m – 150m downhole
of 5m at 3.26% Cu from 157m downhole as well as an intercept of 7m at 1.87%
Cu from 181m.
Drillhole DS-21-14 was drilled obliquely over the top of the high -grade intercept
drilled in DS -21-06 (29m at 1.45% Cu including 14m at 2.44% Cu). DS-21-14
successfully intersected a strongly mineralized zone 10 meters above and 11 meters
north of the DS-21-06 intercept. Significant chalcopyrite and bornite mineralization
between 73m and 209m including 9m at 0.74% Cu from 73m downhole including
4m at 1.03% Cu from 78m, 15m at 1.16% Cu from 145m including 7m at 1.44%
Cu from 145m and an interval of 9m at 1.53% Cu from 186m and another intercept
of 4m at 1.50% Cu from 205m.
Drillhole DS-21-16 is an infill hole designed to test continuity of a south plunging
mineralized zone between historic holes SD-22 (17m at 2.57% Cu) and DS-14-13
(27m at 1.62% Cu). The new hole established continuity by intercepting two high-
grade copper intervals that include 8m at 5.29% Cu from 74m downhole and 8m at
3.53% Cu from 102m.
The infill drilling results to date have defined several structurally controlled, steeply
dipping shoots of high -grade mineralization. In addition, the s tep-out drilling has
identified high-grade mineralization beyond the northern edge of the main drilling
grid.
Significant assay results received to date for the Dalmacia 2021 drilling program
include the following drillholes (see Table 1):
• DS-21-01 (Infill): 23m at 1.16% Cu, including 13m at 1.56% Cu;
• DS-21-02 (Infill): 11m at 1.08% Cu, including 4m at 2.32% Cu;
• DS-21-03 (Infill): 15m at 1.01% Cu, including 4m at 2.47% Cu;
• DS-21-04 (Infill): 13m at 0.64% Cu including 2m at 1.24% Cu;
• DS-21-05 (Step-out): 6m at 1.16% Cu;
• DS-21-06 (Step-out): 32m grading 0.73% Cu including 16m at 1.15%
Cu and 95m at 0.78% Cu including 29m at 1.45% Cu, including a higher-
grade interval of 14m at 2.44% Cu;
• DS-21-07 (Infill): 33m at 1.77% Cu, including intervals of 9.0m at
3.44% Cu, and 7m at 2.54% Cu, and 10m at 0.84% Cu, and 6m at
2.19% Cu;
• DS-21-08: (Infill): 102m at 1.41% Cu including 78m at 1.67% Cu and
16m at 3.52% Cu;
• DS-21-10: (Step-out): 2m at 2.40% Cu;
• DS-21-11: (Infill) 24m at 1.04% Cu including 4m at 1.60% Cu and an
interval of 6m at 1.95% Cu;
• DS-21-12: (Infill) 11m at 0.82% Cu;
• DS-21-13: (Infill): 18m at 1.61% Cu, 12m at 2.13% Cu including 8m
at 2.95% Cu and an interval of 5m at 3.26% Cu as well as an intercept
of 7m at 1.87% Cu;
• DS-21-14: (Infill) 9m at 0.74% Cu including 4m at 1.03% Cu, 15m at
1.16% Cu including 7m at 1.44% Cu and an interval of 9m at 1.53%
Cu and another intercept of 4m at 1.50% Cu;
• DS-21-16: 8m at 5.29% Cu and 8m at 3.53% Cu.
Table 1: BMR - Dalmacia Target Significant Drill Assay Intervals
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
DS-21-01 79 91 12 1.79 2.5 0.028
including 80 88 8 2.44 3.2 0.035
and 105 128 23 1.16 1.7 0.016
including 115 128 13 1.56 2.1 0.024
including 115 122 7 2.32 3.1 0.036
and 137 139 2 1.06 0.7 0.030
and 180 184 4 0.89 0.4 -
and 220 224.9 4.9 0.72 0.6 -
DS-21-02 22 29 7 1.67 2.6 0.08
and 64 74 10 1.03 2.1 -
including 64 67 3 1.49 2.3 -
and 71 73 2 2.34 5.0 -
and 99 106 7 2.58 2.7 -
and 177 188 11 1.08 0.9 0.08
including 177 181 4 2.32 1.4 0.17
including 177 180 3 2.90 1.7 0.22
DS-21-03 46 61 15 1.01 1.2 0.017
including 46 50 4 2.47 3.1 0.05
DS-21-04 70 76 6 0.71 0.9 0.012
including 72 76 4 0.87 1.0 0.010
and 89 102 13 0.64 0.9 -
including 93 95 2 1.24 1.5 -
DS-21-05 52 58 6 1.16 1.7 0.017
131 132 1 1.81 0.4 0.695
141 143 2 2.98 5.0 3.835
155 156 1 3.22 2.0 -
DS-21-06 37 69 32 0.73 0.5 -
including 37 53 16 1.15 0.6 0.060
including 37 44 7 1.75 0.8 0.079
and 112 115 3 2.14 0.6 0.030
and 134 139 5 1.58 0.4 0.019
and 167 262 95 0.78 0.5 -
including 167 170 3 1.84 0.8 0.096
and 183 187 4 1.75 0.6 0.071
and 19 262 65 0.93 0.5 -
including 197 211 14 2.44 0.7 0.039
and 243 262 19 1.10 0.6 0.022
including 243 251 8 1.88 0.7 0.029
and 260 262 2 1.79 0.7 0.060
DS-21-07 24 57 33 1.77 1.5 0.052
including 24 33 9 3.44 1.6 0.167
and 39 46 7 2.54 3.5 0.020
Note: All intervals are downhole core lengths
and 84 94 10 0.84 1.2 0.032
and 176 182 6 2.19 0.4 -
DS-21-08 48 150 102 1.41 1.2 -
including 48 126 78 1.67 1.4 -
including 48 64 16 3.52 4.5 0.017
DS-21-10 138 140 2 2.40 1.0 -
DS-21-11 59 61 2 1.14 2.0 0.043
and 78 102 24 1.04 0.5 -
including 78 88 10 1.06 0.5 -
including 78 82 4 1.60 0.4 -
including 86 88 2 1.78 1.0 -
and 96 102 6 1.95 0.4 -
DS-21-12 116 121 5 0.62 1.0 -
and 143 145 2 0.95 1.0 -
and 161 172 11 0.82 0.5 -
DS-21-13 44 62 18 1.61 0.7 0.010
and 135 147 12 2.13 1.5 -
including 139 147 8 2.95 1.9 -
and 157 162 5 3.26 0.9 -
and 181 188 7 1.87 0.7 -
DS-21-14 73 82 9 0.74 0.7 0.038
including 78 82 4 1.03 0.7 0.050
and 145 160 15 1.16 0.4 -
including 145 152 7 1.44 0.4 -
and 172 174 2 1.11 0.4 -
and 186 195 9 1.53 1.6 0.052
and 205 209 4 1.50 0.4 0.240
DS-21-16 74 82 8 5.29 0.026
and 102 110 8 3.53 0.065
Figure 1: Punitaqui Drill Target Location Map. Dalmacia 6 Kilometers South Of The Punitaqui
Copper Processing Plant
Punitaqui Plant
Figure 2: Dalmacia Target Drill Collar Plan ; Historic holes in grey, BMR 2021 holes in green
and current holes “in progress” in red.