Battery Mineral Resources Announces Intercept of 34 Meters of 1.35% Copper from the Cinabrio Norte Target at Its Punitaqui Copper MINE IN Chile
BATTERY MINERAL RESOURCES ANNOUNCES INTERCEPT OF 34 METERS OF
1.35% COPPER FROM THE CINABRIO NORTE TARGET AT ITS PUNITAQUI
COPPER MINE IN CHILE
Vancouver, British Columbia – (April 26, 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 –
2022 exploration and infill drill program focused on extensions of the Cinabrio
orebody, the Dalmacia target and San Andres target within the Punitaqui mine
complex (“Punitaqui”) in Chile. These drilling results continue to highlight the strong
copper grades and the growing vertical extent of the Cinabrio Norte target.
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
• New assay results for Cinabrio Norte include the following (see Table 1):
o CNN-22-08: 33.4 meters (“ m”) at 1.08% C opper (“C u”) including
18.9m at 1.23% Cu
o CNN-22-21: 34.1m at 1.35% Cu including 19.5m at 1.60% Cu
o CNN-22-16: 22.5m at 1.15% Cu
o CNN-22-13: 4.9m at 1.25% Cu
o CNN-22-10: 3.3m at 0.82% Cu
• At Cinabrio Norte, 41 holes have been completed for 9,472 meters (“m”) and
drilling is ongoing with two diamond drills.
• Significant visual copper mineralization has been recorded in 30 of the 41 holes.
• To date, the drilling has outlined a significant zone of high-grade mineralization in
the northern portion of the target area which remains open at depth.
• The initial phase 1 program of step -out holes has been expanded from 24 holes
(3,600m) to 45 holes, totaling 11,000m which will test 400m of strike length to a
depth of 330m.
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 recent drillhole results at the Cinabrio Norte target have produced very positive
copper grades and further highlighted the down-dip extent and thickness. Cinabrio
Norte is about 100 meters north of the original Cinabrio deposit which was the
primary source of copper ore feed to the Punitaqui mill for eight-plus years. This new
target has the potential to provide the Company with an additional source of copper
mineralization as ore feed for the Punitaqui processing plant.”
Furthermore, CEO Kostuik remarks: “The development of Punitaqui towards a restart
is progressing well on all fronts , 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 and cashflow at
Punitaqui later this year”.
Cinabrio Norte Drill Program
The Cinabrio Norte phase 1 drill testing will continue to 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 targeted 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 Cinabrio
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 an d, most notably, 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 was 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. The
current BMR drilling has outlined a significant zone of high -grade mineralization in
the northern portion of the target zone which remains open at depth. This initial
phase 1 program of step-out holes has been expanded from 24 holes (3,600m) to 45
holes, totaling 11,000m. Significant visual copper mineralization has been recorded
in 30 of the 41 holes completed to date. The remaining planned holes will test “drilling
gaps between the existing underground workings and the northern zone as well as
further test the mineralization at depth.
Complete assay results were recently received for nine holes (see Figure 1 and Table
1).
Table 1: Current Cinabrio Norte Exploration Drill Intercepts
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
(%)
Silver
(g/t)
CNN-22-08 194.7 228.0 33.4 1.08 8.1
including 195.2 227.0 31.9 1.11 8.2
including 195.2 214.0 18.9 1.23 7.3
CNN-22-10 133.3 136.6 3.3 0.82 3.3
including 135.0 136.6 1.6 1.05 4.9
CNN-22-11 256.0 259.0 3.0 0.31 3.7
CNN-22-13 246.1 251.0 4.9 1.25 5.5
CNN-22-16 162.5 185.0 22.5 1.15 10.8
CNN-22-17 174.0 183.0 9.0 0.37 4.0
CNN-22-18 239.0 241.5 2.5 0.55 2.6
CNN-22-20 329.8 334.4 4.6 0.18 2.9
CNN-22-21 104.0 138.0 34.1 1.35 4.9
including 118.5 138.0 19.5 1.60 7.0
Note: All intervals are downhole length
Significant intercepts reported earlier from the phase 1 drilling include (see Table 2):
o CNN-22-01: 26m at 1.28% Cu
o CNN-21-02: 13m at 1.36% Cu including 7.6m at 2.08% 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-21-11: 7m at 1.21% Cu
o CNN-22-06: 15m at 1.24% Cu
o CNN-22-07: 41.5m at 1.36% Cu
o CNN-22-09: 25m at 0.65% Cu.
Please refer to news releases dated March 15, 2022 and April 13, 2022 for previous
drill assays.
Drillhole CNN-22-08 was drilled in the northern end of the target and was planned
as a 50m step -out down-dip on the targeted stratigraphic unit (“TSU”) from the
earlier intercept in hole CNN -22-01 of 26m at 1.28% Cu. This hole successfully
intercepted 53m of the TSU within which a 33.4m intercept grading 1.08% Cu was
returned from 194.7m downhole including 18.9m at 1.23% Cu from 195.2m. The
intercept confirms both the vertical continuation and grade of the copper
mineralization.
Drillhole CNN-22-10 was drilled in the central part of the target to test TSU down-
dip of the broad, well mineralized intercept in CNN-22-07 of 41m grading 1.36%
Cu. A 17m TSU section was drilled from 133.3m with spotty chalcopyrite in the upper
part of the unit that yielded 3.3m at 0.82% Cu. This hole confirms that in the central
part of the zone the TSU appears to be thinner at these depths. Whether this change
in the TSU is attributable to a structural or stratigraphic control is yet to be
determined.
Drillhole CNN-22-11 was planned as a down-dip test of the TSU in the central part
of the target area. The hole was a down -dip step-out of the previous hole CNN -22-
10 that intercepted 3.3m at 0.82% Cu. The new hole cut a 23m section of the TSU
with variable pyrite, minor copper mineralization and a best copper result of 3m at
0.31% Cu from 256m. The results further indicate a thinning of the TSU down -dip
in the central part of the Cinabrio Norte target. Future drilling will test thickness at
greater depths.
Drillhole CNN-22-13 was collared in the central part of Cinabrio Norte and targeted
the TSU down-dip of holes CNN-21-05 (2.5m at 0.46% Cu) and CNN-22-02 (13m
at 1.36m). CNN-22-13 successfully intercepted 24m of TSU that produced an assay
interval of 4.9m grading 1.25% Cu from 246.1m and indicates a continuation of
mineralization down-dip in this area.
Drillhole CNN-22-16 was collared in the northern part of the target area and was
designed as a down-dip step-out of the TSU from the CNN-21-11 intercept of 7m at
1.21% Cu. The new hole intercepted a 100m section of the TSU that yielded a
22.5m intercept at 1.15% Cu from 162.5m thus confirming the down -dip
continuation of the mineralization. This new intercept further supports this
interpreted mineralized copper zone in the northern part of Cinabrio Norte.
Drillhole CNN-22-17 was drilled in the central Cinabrio Norte area as a down-dip
step-out of hole CNN-22-09 that cut 25m at 0.65% Cu hosted within a 40m section
of the TSU. The new hole intercepted a narrower TSU section of 15m that produced
an assay interval of 9m grading 0.37% Cu from 174m.
Drillhole CNN-22-18 was drilled in the southern part of Cinabrio Norte area and
targeted a down-dip step-out of the CNN-21-02 copper intercept of 13m at 1.35%
Cu hosted within a 32m section of the TSU. This hole cut a 30m section of TSU with
only minor copper sulphide mineral ization that resulted in a best assay of 2.5m
grading 0.55% Cu from 239m.
Drillhole CNN-22-20 was collared in the central part of Cinabrio Norte and targeted
the TSU down-dip of CNN-22-13 that intercepted a 24m section of TSU and an assay
of 4.9m at 1.25% Cu. CNN-22-20 intercepted 17m of TSU with only minor copper
sulphides that produced an assay interval of 4.6m grading 0.18% Cu from 329.8m.
Drillhole CNN-22-21 was a follow-up hole designed to test the TSU and copper
sulphides north of previously reported CNN -21-06 that resulted in an 83m zone of
TSU that returned 53m at 0.91% Cu including a higher -grade zone of 20.8m
grading 1.14% Cu. The new hole successfully intersected 90m of TSU that resulted
in assays of 34.1m at 1.35% Cu from 104m including 19.5m grading 1.60% Cu
from 118.5m. This result further supports the presence of a significant zone of copper
mineralization in the northern area of Cinabrio Norte.
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 formal 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 info rmation
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 inductive ly 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 run. 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.
Battery Mineral Resources (“BMR”) is a battery mineral company focused on growth
through cash-flow, exploration, and acquisitions in favourable mining jurisdictions.
BMR is currently developing the Punitaqui Mining Complex, a past copper -gold
producer, in the Coquimbo region of Chile and pursuing a potential near -term
resumption of operations in late 2022. Battery Mineral’s mission is the discovery,
acquisition, and development of battery metals (namely cobalt, lithium, graphite,
nickel, and copper), in North America, South America and South Korea, to become a
premier and resp onsible supplier of battery minerals to the electrification
marketplace. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-
Silver Camp in Ontario, Canada, and continues to pursue a focused program to build
on the recently announced, + 1-million-pound high-grade cobalt resource at McAra.
In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. a profitable
pipeline equipment rental and sales company with operations in Alberta, Canada and
Arizona, USA. Battery Minerals Resources is based in Canada and its shares are listed
on the Toronto Venture Exchange under the symbol “BMR” and on the OTCQB under
the symbol “BTRMF”. Further information about BMR and its projects can be found
on www.bmrcorp.com.
For more information, please contact
Martin Kostuik, CEO
Phone: +1 (604) 229 3830
Mars Investor Relations
+1 (604) 335-1976
Twitter: @BMRcorp_
www.bmrcorp.com
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policies of the TSXV) accepts responsibility for the adequacy or accuracy of this
press release.
Forward Looking Statements
This news release 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 ability of the Company to obtain sufficient
financing to complete exploration and dev elopment activities, the ability of the
Company to complete the Debenture offering, risks related to share price and market
conditions, the inherent risks involved in the mining, exploration and development of
mineral properties, the ability of the Company to meet its anticipated development
schedule, 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 a ny forward-looking statements
contained herein, whether as a result of new information or future events or
otherwise, except as may be required by law.