Battery Mineral Resources Announces Intercept of 48 Meters of 1.31% Cu from the Cinabrio Norte Target at Its Punitaqui Copper MINE IN Chile
BATTERY MINERAL RESOURCES ANNOUNCES INTERCEPT OF 48 METERS OF
1.31% Cu FROM THE CINABRIO NORTE TARGET AT ITS PUNITAQUI
COPPER MINE IN CHILE
Vancouver, British Columbia – (June 27, 2022) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB: BTRMF) ("Battery" or “BMR” or the "Company") is pleased
to announce encouraging drill core assay results from the recently completed Phase
1 2021–2022 exploration and infill diamond drill program focused on extensions of
the Cinabrio orebody , the Dalmacia target and the San Andres target within the
Punitaqui mine complex (“Punitaqui”) in Chile . The Punitaqui mine is slated for
resumption of mine operations in the second half of 2022.
The Cinabrio Norte target represents a potential norther n extension of the main
Cinabrio mine orebody, which was historically the primary source of ore feed to the
Punitaqui copper ore concentration plant for eight -plus years. These drill results
continue to highlight the presence of strong copper mineralization and the significant
vertical extent of the Cinabrio Norte target (see Figure 1).
Highlights
• At Cinabrio Norte the Phase 1 drill program consisted of 53 diamond drill holes
with a total of 13,731 meters (“m”).
• To date, the drilling has outlined a significant zone of high-grade mineralization in
the northern portion of the target area and remains open at depth.
• The initial Phase 1 program of step-out holes was expanded from the planned 24
holes (for approximately 3,600m) to 53 holes to further test the down-dip extent
of the copper (“Cu”) mineralization ultimately reaching a depth of 350m below
surface.
• The results of the North Zone at Cinabrio Norte include:
o CNN-22-30: 164m at 0.80% Cu including 48.0m at 1.31% Cu, 12.5m
at 0.91% Cu and 19.4m at 1.15% Cu
o CNN-22-40: 14m at 1.62% Cu
o CNN-22-41: 9m at 1.15% Cu
o CNN-22-19: 4.1m at 1.38% Cu
o CNN-22-19A: 16.6m at 0.85% Cu including 5.4m at 1.16% Cu
• Results from the South and Central Zones at Cinabrio Norte include:
o CNN-22-33: 14.9m at 1.79% Cu including 2.8m at 3.66% Cu
o CNN-22-25: 4m at 0.48% Cu including 18.9m at 1.23% Cu
o CNN-22-26: 4m at 1.18% Cu
o CNN-22-29: 14m at 0.76% Cu including 5m at 1.01% Cu
o CNN-22-32: 9m at 0.43% Cu
o CNN-22-38: 4.3m at 1.09% Cu
Battery CEO Martin Kostuik states; “We are very pleased to report these encouraging
results from Cinabrio Norte at our former producing Punitaqui copper mine in Region
IV of Chile. Cinabrio Norte began as a collection of a few interesting holes to the
immediate north of the original Cinabrio mine. Cinabrio, until May of 2020, produced
feed to the Punitaqui copper concent rator for nine -plus years. Today’s reported
drillhole results conclude the initial drill program at Cinabrio Norte and, together with
the previously reported results, clearly demonstrate a new extension of Cinabrio to
the north. Th ese new targets have the potential to provide the Company with an
additional source of copper mineralization as feed for the Punitaqui processing plant.”
Furthermore, CEO Kostuik remarks: “The development of Punitaqui towards a restart
of mine operations, followed by a re -start of the copper concentrating plant, is
progressing well on all fronts . Efforts are multi -faceted and include drilling,
engineering, metallurgical test work and permit modifications. We look forward to
the potential of these latest assay results for th e Cinabrio Norte target contributing
significantly to the forthcoming resource report and subsequent restart plan for the
mine”.
Cinabrio Norte Drill Program
The Cinabrio Norte Phase 1 drilling was designed 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 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 Cinabrio mine. Of note, 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 and, 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 20221-2022 Phase 1 drilling at Cinabrio Norte consisted of a series of step-out
holes to test the TSU along a 400m strike length (north-south) to a depth below
surface, or down-dip, of 350m. The current BMR drilling has outlined a significant
zone of high-grade mineralization in the northern portion of the target zone which
remains open down-dip.
Complete assay results were recently received for all 18 remaining drill holes from
the Phase 1 campaign at Cinabrio Norte (see Figure 1 and Table 1). As of this press
release, all assays from the entire Phase 1 program (Cinabrio Norte, San Andres and
Dalmacia) have now been reported.
Table 1: Current Cinabrio Norte Exploration Drill Intercepts
Drillhole
Number
From
(m)
To
(m)
Interval
(m)
Copper
(Cu %)
Silver
(Ag g/t)
Northern Zone of Cinabrio Norte Target
CNN-22-19 310.0 314.1 4.1 1.38 22.6
and 342.0 345.0 3.0 0.68 7.7
CNN-22-19A 184.8 201.4 16.6 0.85 1.5
including 196.0 201.4 5.4 1.16 0.8
CNN-22-30 209.0 373.0 164.0 0.80 9.9
including 209.0 257.0 48.0 1.31 6.4
including 248.0 254.0 6.0 1.83 6.3
and 285.0 297.5 12.5 0.91 10.5
and 315.6 335.0 19.4 1.15 34.6
and 370.0 373.0 3.0 1.25 7.0
CNN-22-35 191.6 195.0 3.4 0.37 4.76
and 329.7 334.0 4.3 0.05 3.2
and 359.5 361.0 1.5 0.37 7.9
and 363.0 367.4 4.4 0.43 1.7
CNN-22-39 324.0 329.0 5.0 0.50 10.60
CNN-22-40 279.0 293.0 14.0 1.62 5.0
and 386.0 395.0 9.0 0.12 3.31
and 397.0 402.0 5.0 0.17 12.40
CNN-22-41 133.0 135.0 2.0 0.63 1.20
and 219.0 221.5 2.5 0.73 2.80
and 237.1 240.1 3.0 0.87 8.37
including 237.1 239.0 1.9 1.20 10.89
and 281.0 290.0 9.0 1.15 12.00
including 283.0 288.0 5.0 1.70 16.60
South and Central Zones of Cinabrio Norte Target
CNN-22-25 357.0 361.0 4.0 0.48 9.5
CNN-22-26 208.0 212.0 4.0 1.2 0.80
CNN-22-27 210.0 212.0 2.0 0.40 1.51
CNN-22-28 128.0 131.0 3.0 0.38 2.33
and 136.0 138.0 2.0 0.38 3.50
and 148.0 149.7 1.7 0.50 1.00
CNN-22-29 183.0 197.0 14.0 0.76 2.86
including 183.0 185.0 2.0 0.97 2.00
including 192.0 197.0 5.0 1.01 4.20
CNN-22-31 202.2 203.5 1.3 0.41 1.00
and 213.0 218.0 5.0 0.07 2.08
CNN-22-32 253.0 262.0 9.0 0.43 5.44
CNN-22-33 301.9 316.8 14.9 1.79 6.47
including 314.0 316.8 2.8 3.66 0.40
CNN-22-34 234.3 242.0 7.7 0.07 4.12
and 244.0 249.0 5.0 0.22 3.20
CNN-22-37 94.0 98.0 4.0 0.47 2.81
CNN-22-38 141.8 146.0 4.3 1.09 6.53
and 146.0 149.0 3.0 0.20 0.60
Note: All intervals are downhole length
Significant intercepts reported earlier from the phase 1 drilling include:
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-22-01: 26m at 1.28% Cu
o CNN-22-06: 15m at 1.24% Cu
o CNN-22-07: 41.5m at 1.36% Cu
o CNN-22-08: 33.4m at 1.08% Cu including 18.9m at 1.23% Cu
o CNN-22-09: 25m at 0.65% Cu
o CNN-22-10: 3.3m at 0.82% Cu
o CNN-22-13: 4.9m at 1.25% Cu
o CNN-22-16: 22.5m at 1.15% Cu
o CNN-22-21: 34.1m at 1.35% Cu including 19.5m at 1.60% Cu
Please refer to news releases dated December 29, 2021, March 15, 2022 and April
26, 2022 for previous drill assays.
Figure 1: Cinabrio Norte Drill Collar Plan (2021-22 completed holes in green, historic holes
in grey)
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 ex ploration 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 deli vered 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.
Battery Mineral Resources (“BMR”) is a battery minerals company providing
shareholders exposure to the global mega-trend of electrification while being focused
on growth through cash -flow, ex ploration, and acquisitions in favourable mining
jurisdictions. Battery Mineral’s mission is the discovery, acquisition, and development
of battery metals (namely cobalt, lithium, graphite, and copper), in North America,
South America and South Korea, to b ecome a premier and responsible supplier of
battery minerals to the electrification marketplace. BMR is currently pursuing a
potential near-term resumption of mine operations, followed by copper production in
late 2022, of the Punitaqui Mining Complex, a p ast copper-gold producer located in
the Coquimbo region of Chile. Punitaqui, operating as recently as April of 2020, has
a 9+ year operating history and produced between 20 and 25 million pounds of
copper annually. BMR is the largest mineral claim holder i n 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., and its
US subsidiary Ozzie’s, Inc. (http://ozzies.com), a profitable mainline pipeline and
renewable energy equipment rental and sales company with operations in Alberta,
Canada and Arizona, USA. Battery Mineral Resources is based in Canada and its
shares are listed on the Toronto Venture Exchange under the s ymbol “BMR” and on
the OTCQB under the symbol “BTRMF”. Further information about BMR and its
projects can be found on our website, www.bmrcorp.com.
For more information, please contact:
Martin Kostuik, CEO
Martin Kostuik
Phone: +1 (604) 229 3830
Mars Investor Relations
+1 (604) 335-1976
Harbor Access Corp.
475-477-9402
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 achievem ents 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 development 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 any forward -looking statements
contained herein, whether because of new information or future events or otherwise,
except as may be required by law.