Battery Mineral Resources Announces New Encouraging Drill Results from Its Punitaqui Copper MINE IN Chile
BATTERY MINERAL RESOURCES ANNOUNCES NEW ENCOURAGING DRILL RESULTS
FROM ITS PUNITAQUI COPPER MINE IN CHILE
Vancouver, British Columbia – (January 14th, 2025) – Battery Mineral Resources Corp. (TSXV:
BMR) ("Battery" or “BMR” or the "Company") is pleased to announce encouraging drill core
assay results from the new 2024 underground exploration and in-fill drill program at the
Punitaqui mine complex (“Punitaqui”) in Chile.
Highlights
• Assay results from drillholes SAM-24-06, 07, 08, 09,10, 11 and 12 (see Table 1 and
Figure 1) have returned with encouraging results as follows:
o SAM-24-06: 2.9 meters (“m”) at 0.92% (“CuT”) total copper and 27.3 g/t
grams per tonne (“Ag”) silver and 1.8m at 2.76% CuT & 21.0g/t Ag
o SAM-24-07: 15.6m grading 0.9% Cu & 15.0g/t Ag
o SAM-24-08: 5.1m at 0.9% CuT & 3.4g/t Ag
o SAM-24-09: 9.8m at 1.1% CuT & 13.2g/t Ag
o SAM-24-10: 19.8m at 2.3% CuT & 26.4g/t Ag
o SAM-24-11: 21.9m at 1.2% CuT & 15.4g/t Ag
o SAM-24-12: 12.0m at 1.1% CuT & 20.7g/t Ag and 10.2m at 1.2% CuT and
12.7g/t Ag
(Note: All Intercepts reported as estimated true widths intervals.)
• This San Andres drilling targeted a planned production area and totaled 248.3 meters
of diamond core drilling in 7 drillholes (see Table 2 and Figure 1). This program was
designed to confirm the modelled geology, mineralization and copper grade within the
planned extraction area.
• Sample assay results, reported herein, are from the seven underground drillholes
completed on Level 448 at San Andres. All holes begin in the upper shale horizon and
drill down stratigraphy into the andesitic rocks underlying the mineralized sedimentary
sequence.
• All holes reached target depth and have intersected the targeted shale horizons that
host the copper mineralization. This drilling confirmed copper grades and better
delineated the extent of the mineralization in the upper and lower shale units within
and adjacent to the planned extraction area.
• These drill results have been added to the three-dimensional geology and resource
models which BMR’s mining engineers will use to update stope designs and optimize
mining plans.
Battery Vice President Exploration Peter Doyle states: “This drilling confirmed the copper
grades which exist in the current geological model and better delineated the extent of the
mineralization. We believe these new results demonstrate that our understanding of the
geological controls of mineralization. The SAM-24-O6 and SAM-24-07 drilling has confirmed
a fault offset of the lower shale which represents a new target east of the fault for future
drilling.”
During the current operational ramp-up period, the underground drilling program is focused
on accessible targets within existing Inferred Resource to upgrade the resources to a higher
resource category as well as targeting areas adjacent to Inferred Resource to potentially add
new resources.
The 2024 drill plan allowed for some flexibility in terms of timing and sequencing of target
areas with the drilling being shifted between the Cinabrio mine and the adjacent San Andres
underground.
Details of New Holes
Drillhole SAM-24-06: was designed to test the down-dip extension “Targeted Stratigraphic
Unit” (“TSU”) below level 448. The hole began in the upper part of the TSU and bottomed in
the footwall andesite. The hole intersected the upper shale unit between 0m – 18.3m. Copper
intercepts in the upper unit include 2.9m at 0.92% CuT & 27.3g/t Ag. The lower shale unit
was intersected between 23.4m - 27.2m and returned 1.8m grading 2.76% CuT & 21.0g/t
Ag. This lower intersection is bornite-rich and mineralized sediments are cut off by a fault. The
results confirm both the down-dip extension of the mineralization and the modelled geology
within the central part of the planned extraction area. The fault offset of the lower shale unit
represents a new exploration target that will be tested.
Drillhole SAM-24-07 targeted the down-dip extension of the TSU below level 448. The hole
began in the upper part of the TSU and bottomed in the footwall andesite. The hole intersected
the upper shale unit between 0m – 18.6m. Copper intercepts in the upper unit include 5.7m
grading 1.1% CuT & 21.1.0g/t Ag. The lower shale unit was intersected between 23.2m - 24.6
m and returned an intersection of 1.9m at 1.7% CuT & 9.0g/t Ag.
This hole like drillhole SAM-24-06, the lower shale intersection is bornite-rich, and the
mineralized sediments are cut off by a fault intersected at a depth of 24.6 meters which is
interpreted to be the same fault which cut off the lower shale unit in drill hole SAM-24-06. The
location of this offsetting fault is now well constrained and future drill holes will test the TSU
east of this fault.
Drillhole SAM-24-08 tested the TSU below level 448 to the north of planned extraction area.
The hole started in the upper part of the TSU and bottomed in the footwall andesite, crossing
the TSU at an angle close to perpendicular. The hole intersected a weakly mineralized upper
shale unit between 0m – 10.5m. From 10.3m to 12.0m the hole intersected a tuff breccia
unit which separates the upper and lower shale units. The lower shale unit was intersected
between 12.0m - 15.7m. A mineralized intercept in the lower unit returned 2.5m at 1.44%
CuT & 3.5g/t Ag.
Drillhole SAM-24-09 targeted the TSU 21m meters up-dip from SAM-24-06. The hole started
in the upper part of the TSU and bottomed in the footwall andesite, crossing the TSU at an
angle close to perpendicular. The hole intersected a variably mineralized upper shale unit
between 0m and 6.8m. The lower shale unit was intersected between 8.8m - 14.3m and a
volcanoclastic unit from 14.3m - 19.7m. Both the lower shale and the volcanoclastic units are
mineralized. The intercept across these units in SAM-4-09 yielded 9.8m at 1.1% Cu and
13.2g/t Ag
Drillhole SAM-24-10 was designed to test the TSU within the southern part of the planned
extraction area. The hole began in the upper part of the TSU and bottomed in the footwall
andesite. It intersected the upper shale unit with minor copper mineralization between 0m –
10.2m. A tuff breccia intercalated with minor shales and volcanoclastics was intercepted
from 10.2m to 17.7m. The lower shale horizon was intersected between 17.7m - 35.4m.
Mineralization within the lower part of the tuff breccia/volcanoclastic unit and the lower shale
horizon returned 19.8m of 2.3% CuT and 26.4g/t Ag. This intercept has confirmed the
modelled geology and better delineated the grade and extent of the copper mineralization.
Drillhole SAM-24-11 targeted the TSU within the southern part of the planned extraction area
30m down-dip from SAM-24-10. The hole started in the upper part of the TSU and bottomed
in the footwall andesite. It intersected the upper shale unit with minor copper mineralization
between 0m – 10.2m. From 10.2m - 17.7m the section drilled consisted of a tuff breccia
intercalated with minor shale beds and abundant volcanoclastics in the lower part. The lower
shale horizon was intersected between 17.7m - 38.3m. Mineralization occurs within the lower
part of the tuff breccia/volcanoclastic unit , the lower shale horizon and in the lower
volcanoclastic unit. Assay results returned 21.9m at 1.2% CuT and 15.4g/t Ag including 6.7m
at 1.6% CuT and 4.8g/t Ag.
Drillhole SAM-24-12 tested the TSU within the southern part of the planned extraction area
south of SAM-24-10 and SAM-24-11. The hole began in the upper part of the TSU and
bottomed in the footwall andesite. It intersected the upper shale unit between 0m – 20.1m;
The section cut from 20.1m - 32.2m a tuff breccia intercalated with volcanoclastics. The lower
shale horizon was intersected between 32.2m and 38.1m. Volcanoclastics were intersected
between 38.1m - 52.9m. Mineralization occurs primarily in the upper and lower s hale
horizons. Results include 12m at 1.1% CuT and 20.7g/t Ag in the upper shale and 10.2m at
1.23% CuT and 12.7g/t Ag in the lower shale.
Figure 1: San Andres Drilling Hole Location Plan- Level 448
Table 1: San Andres Level 448 Significant Drillhole Intercepts
Drillhole
Number
Downhole
Interval
From (m)
Downhole
Interval To
(m)
Downhole
Sample
Interval
From (m)
Sample
Estimated
True Interval
Width (m)
Total
Copper
CuT (%)
Silver Ag
(grams per
tonne) (g/t)
SAM-24-06
and
6.00 12.00 6.00 2.88 0.92 27.3
23.35 27.15 3.80 1.83 2.76 21.0
SAM-24-07
including
and
0.00 25.00 25.00 15.63 0.86 15.0
8.00 17.00 9.00 5.67 1.07 21.1
22.00 25.00 3.00 1.89 1.72 9.0
SAM-24-08
including
10.30 15.70 5.40 5.10 0.91 3.4
13.10 15.70 2.60 2.45 1.44 3.5
SAM-24-09
and
0.00 3.00 3.00 2.70 0.53 16.3
8.80 19.70 10.90 9.81 1.10 13.2
SAM-24-10 13.90 38.00 24.10 19.80 2.30 26.4
SAM-24-11
including
8.00 47.00 39.00 21.90 1.21 15.4
35.00 47.00 12.00 6.72 1.60 4.8
SAM-24-12
including
and
2.00 21.00 19.00 12.00 1.14 20.7
11.00 19.60 8.60 5.42 1.85 28.0
34.00 50.00 16.00 10.20 1.23 12.7
Note: All Intercepts reported as estimated true widths intervals
Table 2: San Andres Drillhole Summary
Hole
Number
Collar UTM
Easting (m)
Collar UTM
Northing (m)
Collar
Elevation
(mASL)
Depth
EoH
(m)
Hole
Inclination
(Dip)
Azimuth Hole
Type & Size
SAM-24-06 287896.7 6598863.1 447.3 32.85 58.0 75.0 Diamond HQ Core
SAM-24-07 287894.8 6598877.3 447.2 29.65 58.4 6.8 Diamond HQ Core
SAM-24-08 287877.2 6598924.4 446.6 19.10 54.7 225.9 Diamond HQ Core
SAM-24-09 287891.0 6598874.0 447.2 20.40 60.4 225.3 Diamond HQ Core
SAM-24-10 287899.8 6598833.4 447.6 41.70 44.9 194.1 Diamond HQ Core
SAM-24-11 287902.6 6598834.1 447.5 49.40 53.9 114.5 Diamond HQ Core
Sam-24-12 287901.6 6598833.4 447.6 55.20 39.1 156.4 Diamond HQ Core
Background – San Andres Deposit
The San Andres resource is part of the Punitaqui project which is situated within a 25km long
mineralized district that is a classic IOCG and manto style copper belt that is comprised of
manto and structural controlled copper-silver veins. San Andres is a zone of manto copper
mineralization located 500m southwest of the high-grade Cinabrio deposit.
On October 3, 2022, BMR published an NI 43-101 resource for San Andres at a 0.70 Cu%
cut-off.
• Indicated Sulphide Resource of 1,736,000 tonnes grading 1.06% CuT and 4.83 g/t
Ag.
• Inferred Sulphide Resource of 303,000 tonnes at 0.82% Cu and 4.03g/t Ag
Note: Scientific and technical information pertaining to the San Andres Resource was
extracted from the Company’s NI 43-101 “Technical report on Punitaqui Copper Complex
Coquimbo, Chile” dated as of September 30,2022 with an effective date of August 16,
2022, prepared by Garth Kirkham (Kirkham Geosystems Ltd.) an Independent Qualified
Person in accordance with NI 43-101.
Quality Control
Sample preparation, analysis and security procedures applied on the BMR exploration
projects are aligned with industry best practice. 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 BMR Los Mantos Preparation Lab. 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. Sample pulps & rejects were then delivered to
ALS Global - Geochemistry Analytical Lab in La Serana, 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.
These prepared samples are then shipped to the ALS Laboratory in North Vancouver for
analyses by the following methods:
• ME-MS61: 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 high 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.
Qualified Persons
Peter Doyle, Vice President of Exploration and Michael Schuler, Chile Exploration Manager for
Battery Mineral Resources Corp., supervised the preparation of and approved the scientific
and technical information in this press release pertaining to the Punitaqui exploration drill
program. Mr. Doyle and Mr. Schuler are qualified persons as defined by National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
Scientific and technical information pertaining to the Punitaqui Resource was extracted from
the Company’s NI 43-101 “Technical Report on Punitaqui Copper Complex Coquimbo, Chile”
dated as of September 30,2022 with an effective date of August 16, 2022, prepared by Garth
Kirkham (Kirkham Geosystems Ltd.) an Independent Qualified Person in accordance with NI
43-101.
All mineral resources have been estimated in accordance with Canadian Institute of Mining
and Metallurgy and Petroleum (“CIM”) definitions, as required under NI 43-101. Cut-off grades
are based on a price of US$3.50/lb copper, US$20/oz silver and several operating costs,
metallurgical recoveries, and recovery assumptions, including a reasonable contingency
factor.
About Battery Mineral Resources Corp.
Battery Mineral Resources’ mission is to build a mid-tier copper producer and has recently
initiated mine and mill operations at the Punitaqui Mining Complex, a historic copper-gold-
silver producer, in the Coquimbo region of Chile. The Company’s portfolio also consists of two
cobalt assets and one lithium asset located in North America and two graphite assets in South
Korea. The Company is focused on providing shareholders accretive exposure to copper and
the global mega-trend of electrification while being focused on growth through cash-flow,
exploration, and acquisitions in favorable mining jurisdictions.
For more information about Battery Minerals, please visit our website at, https://bmrcorp.com
or email us at [email protected].
Battery Mineral Resources Corp.
Martin Kostuik, CEO
Phone: +1 (604) 628-1110
Twitter: @BMRcorp_
Facebook: Battery Mineral Resources Corp. | Facebook
LinkedIn: Battery Mineral Resources Corp.: My Company | LinkedIn
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 development activities, risks related to share price and
market conditions, the inherent risks involved in the mining, exploration and development of
mineral properties, 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 as a result of new information or future events or otherwise, except as may be
required by law.