Battery Mineral Resources Announces Intercept of 23 Meters of 1.55% Copper from Dalmacia Target at Its Punitaqui MINE
BATTERY MINERAL RESOURCES ANNOUNCES INTERCEPT OF 23 METERS OF
1.55% COPPER FROM DALMACIA TARGET AT ITS PUNITAQUI MINE
Vancouver, British Columbia – (June 9, 2022) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB: BTRMF) ("Battery" or “BMR” or the "Company") announces
encouraging drill core assay results from the recently completed Phase 1 exploration
and infill drill program at the Dalmacia zone of the Punitaqui mine complex
(‘Punitaqui”) in Chile. The Punitaqui mine is slated for resumption of mine operations
in the second half of 2022.
The Dalmacia target is located in the southern portion of the Punitaqui area
approximately 6 kilometers (“km”) 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 plant.
Highlights
• Final assay results for the following Dalmacia drillholes include (see Table 1):
o DS-22-09: 18 meters (“m”) at 1.51% Copper (“Cu”) including 8m at
2.39% Cu
o DS-22-10: 23m at 1.55% Cu including 12m at 2.50% Cu
o DS-22-11: 11m at 1.96% Cu, 6m at 2.40% Cu and 11m at 1.50% Cu
o DS-22-12: 5m at 1.08% Cu, 4m at 1.22% Cu and 11m at 0.90% Cu
o DS-22-13: 5m at 1.00% Cu
o DS-22-15: 29m at 1.05% Cu including 7m at 1.94% Cu
o DS-22-16: 4m at 1.17% Cu
o DS-22-17: 6m at 1.15% Cu
o DS-22-18: 6m at 0.96% Cu
• The phase 1 drill program at Dalmacia has been completed and comprised of
9,757 meters in 52 drill holes.
• Geological drill cross-sections were compiled, and an updated 3D geological model
has been finalized.
• The new 3D geological model and assay database will form the basis of a resource
estimate to be completed by consultants JDS Energy & Mining Inc.
• Planning for a follow -up infill Reverse Circulation (“RC”) program at Dalmacia
North and an exploration and infill drill test of the remaining 1,000m strike length
at Dalmacia is complete and a number of new drill pads have been constructed.
Battery CEO Martin Kostuik states; “We continue to advance the Punitaqui project via
drilling, metallurgical testing, permit modifications, community relations and are
gaining clarity on non -dilutive financing for the capital required for resumption of
operations at Punitaqui. These drilling results further confirm the high-grade of the
copper mineralization at Dalmacia North. Overall , the 2021-2022 Dalmacia North
assay results are far better than expected. These results clearly delineate high-grade
copper grades over significant intervals including: 23m at 1.55% Cu, 18m at
1.51% Cu and 11m at 1.96% Cu.
We are very pleased with the Dalmacia Phase 1 drill program results - continued
results like these leading to the planned restart of our former producing Punitaqui
copper mine, 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 for the drill program as we continue to progress.”
Dalmacia Drill Program
The 2021-22 phase 1 drill program consisted of 9,757.56m in 52 diamond core holes.
The geological setting of the Dalmacia target is different from the Cinabrio orebody
which is located 20 kilometers to the north. At Dalmacia, structurally controlled
copper-gold mineralization is 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. 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 Phase 1 drill program focused on the
northernmost 600m of the zone, was 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.
Complete assay results were recently received for eleven holes (see Table 1 and
Figure 1). A summary of the targeting rationale and results for the significant recent
drillholes follows below.
DS-22-09 was planned to test a “drilling gap” above the lower portion of the DS-21-
08 intercept (102m at 1.41% Cu including 78m at 1.67% Cu and 16m at 3.52%
Cu). This infill drillhole intersected two narrow copper zones including 6m at 1.01%
Cu, 3m at 1.19% Cu higher up in the hole and deeper hits of 18m at 1.51% Cu
including 8m at 2.39% Cu as well as 6m at 1.18% Cu. The higher-grade deeper
intercepts correlate with an extension of the DS-21-08 mineralization.
DS-22-10 was designed to test as an infill hole in the northeast part of the target
area to follow-up hole DS-22-02 (11m at 1.08% Cu, including 4m at 2.32% Cu).
The new hole produced two significant assay intervals: 23m at 1.55% Cu including
12m at 2.50% Cu as well as intercepts of 4m at 1.81% Cu and 7m at 1.12% Cu.
The upper intercept is interpreted to represent be the extension of the DS -22-02
mineralization while the lower assay interval is the southern extension of the copper
mineralization encountered in DS-11-15 (29m at 1.05% Cu including 7m at 1.94%
Cu).
DS-22-11 is an infill hole drilled along the eastern margin of the target zone. This
hole cut several mineralized intercepts including: 11m at 1.96% Cu, 6m at 2.40%
Cu and 11m at 1.50% Cu including 6m at 2.28% Cu. The copper mineralization
encountered is interpreted as the down-dip extension of the DS-22-13 intercept (5m
at 1.00% Cu).
DS-22-12 was drilled as an infill hole in the northeast part of the target area to
follow-up the copper zone intersected in DS-2202 (11m at 1.08% Cu, including 4m
at 2.32% Cu). DS-22-12 encountered three copper zones: 5m at 1.08% Cu, 4m
at 1.22% Cu and 11m at 0.90% Cu. The upper intercept is an extension of the
DS-22-02 mineralization.
DS-22-13 was planned as an infill hole in the northeast part of the target area to
test the up-dip extent of the copper mineralization cut in hole DS -22-11: (11m at
1.96% Cu, 6m at 2.40% Cu and 11m at 1.50% Cu including 6m at 2.28% Cu)
The new hole confirmed the up-dip extension of the copper zone with an intercept of
5m at 1.00% Cu.
DS-22-15 was planned to test the for a western extension of the lower intercept in
DS-22-12 (11m at 0.90% Cu). Hole DS-22-15 intersected two mineralized zones:
29m at 1.05% Cu including 7m at 1.94% Cu as well as an intercept of 15m at
0.81% Cu including 3m at 1.81% Cu and 3m at 1.34% Cu that confirmed the
western extension of the DS-22-12 copper zone.
DS-22-16 was designed as an infill hole that tested a “drilling gap” between a
number of mineralized intercepts within the northeastern part of the target. The new
hole successfully tested the gap and yielded two intercepts : 4m at 1.17% Cu and
3m at 1.18% Cu.
DS-22-17 was planned as an infill hole in the central part of the target testing a
“drilling gap” between several mineralized intercepts. The new hole encountered 6m
at 1.15% Cu which is interpreted as a feeder structure for the copper mineralization
intersected in historic hole DS-14-12 (20m at 1.53% Cu).
DS-22-18 was designed as an infill hole in the northeast part of the target. The new
hole e ncountered number of narrow zones of anomalous copper mineralization,
hosted within an andesitic intrusive. The best intercept reported in DS-22-18 was 6m
at 0.96% Cu.
DS-22-19 was designed to test the southwest margin of the target area and probe
for a southeast extension of the DS -21-21 high grade copper intercept of 17m at
3.77% Cu . The new hole e ncountered several narrow zones of m oderate grade
mineralization which are interpreted to correlate with the high-grade intersections in
DS-21-21. DS-22-19 intersected 17m at 0.69% Cu including 2m at 1.93% Cu
DS-22-20 was planned to test for northeast extension of mineralization encountered
in drill holes DS-22-02 (11m at 1.08% Cu, including 4m at 2.32% Cu), DS-22-12
(11m at 0.82% Cu) and DS-22-16 (8m at 5.29% Cu and 8m at 3.53% Cu) in
the eastern part of the target ar ea. The new hole encountered 4m at 1.02% Cu
suggesting the copper mineralized extends in this direction.
Table 1: New BMR-Dalmacia Target Significant Assays
Hole
Number
From
(m)
To
(m)
Interval
(m)
Copper
(%)
Silver
(g/t)
DS-22-09 46 52 6 1.01 0.9
and 58 61 3 1.19 0.8
and 103 105 2 2.01 1.5
and 114 132 18 1.51 2.0
including 114 122 8 2.39 3.6
and 126 132 6 1.18 0.9
DS-22-10 19 23 4 1.81 1.7
and 26 28 2 4.53 8.5
and 48 71 23 1.55 0.7
including 59 71 12 2.50 0.8
and 183 190 7 1.12 0.9
including 183 187 4 1.64 1.1
DS-22-11 68 72 4 0.93 1.1
and 128 134 6 2.40 2.1
and 140 151 11 1.50 2.4
including 141 147 6 2.28 3.5
and 156 167 11 1.96 1.1
and 192 194 2 0.76 0.7
and 197 202 5 0.81
including 200 202 2 1.36
DS-22-12 55 60 5 1.08 0.8
and 90 94 4 0.82 1.1
and 116 120 4 1.22 1.0
and 135 140 5 0.82 0.6
and 155 166 11 0.90 0.6
DS-22-13 129 131 2 0.63 1.0
and 149 154 5 1.00 0.4
and 192 195 3 0.80 1.1
DS-22-15 158 173 15 0.81 1.4
including 158 161 3 1.81 1.7
including 168 171 3 1.34 2.7
and 197 226 29 1.05 2.5
including 197 204 7 1.94 5.1
including 212 215 3 2.59 4.7
including 223 226 3 0.71 1.3
DS-22-16 9 15 6 0.88 0.9
and 22 26 4 1.17 2.0
and 98 101 3 1.18 0.8
and 146 148 2 0.84 2.0
DS-22-17 65 71 6 1.15 1.0
DS-22-18 5 7 2 0.60 1.0
and 25 31 6 0.96 1.0
and 48 54 6 0.79 1.0
and 67 69 2 0.69 1.5
and 117 118 1 1.20 1.0
and 172 176 4 0.58 0.4
and 182 187 5 0.79 1.2
including 182 184 2 1.09 2.0
DS-22-19 7 11 4 0.59 0.7
and 15 32 17 0.69 0.9
including 15 27 12 0.64 0.8
and 30 32 2 1.93 2.0
and 72 75 3 0.85 8.3
DS-22-20 73 77 4 0.60 0.4
and 87 92 5 0.90 0.4
including 87 91 4 1.02 0.4
Note: All intervals are downhole core lengths
Significant BMR assay results received to date for the Dalmacia 2021 -22 drilling
include the following (see Table 2):
Table 2: Earlier 2021 BMR - Dalmacia Target Significant Drill Assay Intervals
Drillhole
Number
From To Sample
Interval
(m)
Copper Silver Gold
(m) (m) (%) (g/t) (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 0.03
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 -
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 2.9 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 0.01
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
and 131 132 1 1.81 0.4 0.695
and 141 143 2 2.98 5 3.835
and 155 156 1 3.22 2 -
DS-21-06 37 69 32 0.73 0.5 -
including 37 53 16 1.15 0.6 0.06
including 37 44 7 1.75 0.8 0.079
and 112 115 3 2.14 0.6 0.03
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 1.1 0.6 0.022
including 243 251 8 1.88 0.7 0.029
and 260 262 2 1.79 0.7 0.06
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 0.02
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 2.4 1 -
DS-21-11 59 61 2 1.14 2 0.043
and 78 102 24 1.04 0.5 -
including 78 88 10 1.06 0.5 -
including 78 82 4 1.6 0.4 -
including 86 88 2 1.78 1 -
and 96 102 6 1.95 0.4 -
DS-21-12 116 121 5 0.62 1 -
and 143 145 2 0.95 1 -
and 161 172 11 0.82 0.5 -
DS-21-13 44 62 18 1.61 0.7 0.01
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 0.05
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 1.5 0.4 0.24
DS-21-16 74 82 8 5.29 0.026
and 102 110 8 3.53 0.065
DS-21-09 89 91 2 0.88 1.3 -
and 98 114 16 1.84 0.5 -
including 101 113 12 2.18 0.6 -
and 234 236 2 1.35 0.5 -
DS-21-15 128 136 8 1.14 1.2 0.023
including 128 131 3 1.58 1.8 0.032
and 133 136 3 1.36 1.3 0.025
DS-21-18 12 80 68 1.14 0.9 -
including 12 38 26 1.48 0.8 -
including 12 26 14 2.07 1 -
and 46 62 16 1.43 1.4 -
and 72 80 8 1.5 1.1 0.009
DS-21-19 12 48 36 0.99 0.3 -
and 66 72 6 1.3 0.7 -
DS-21-20 56 70 14 1.3 0.7 -
including 62 70 8 1.27 0.9 0.521
and 116 120 4 0.72 0.1 -
and 140 144 4 1.79 0.4 -
DS-21-21 68 121 53 2.34 0.8 -
including 76 121 45 2.57 0.9 0.047
including 104 121 17 3.77 0.8 0.1
DS-21-22 60 64 4 3.6 2.5 -
and 93 96 3 1.12 0.3 0.044
and 128 130 2 1.06 0.1 -
DS-21-23A 39 57 18 1.05 0.3 -
including 40 44 4 1.92 0.9 0.069
including 48 50 2 2.05 0.1 0.178
including 55 57 2 1.54 0.1 0.065
and 94 113 19 1.36 0.8 -
including 97 102 5 2.44 1.1 0.468
and 110 113 3 1.96 1.7 0.112
DS-21-24 75 96 21 0.64 0.8 -
including 92 96 4 1.21 2.1 -
and 115 117 2 1.02 0.6 -
DS-21-25 52 72 20 1.22 1.2 -
including 52 58 6 2.87 3.2 0.149
and 210 216 6 1.46 0.3 -
and 224 229 5 1.57 0.1 -
DS-21-26 72 105 33 1.64 4.8 -
including 77 98 21 2.05 6.9 -
DS-21-27 68 73 5 1.45 0.7 -
including 68 72 4 1.64 0.8 0.005
DS-21-28 79 99 20 1.38 0.6 -
and 106 109 3 1.13 0.9 0.079
and 121 123 2 1.15 0.1 0.079
Note: All intervals are downhole core lengths