Battery Mineral Resources Announces Positive Initial Drill Results from Its Recently Acquired Punitaqui Copper MINE IN Chile
BATTERY MINERAL RESOURCES ANNOUNCES POSITIVE INITIAL DRILL
RESULTS FROM ITS RECENTLY ACQUIRED PUNITAQUI COPPER MINE IN
CHILE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION
OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Vancouver, British Columbia – (September 2, 2021) – Battery Mineral Resources
Corp. (TSXV: BMR) ("Battery" or “BMR” or the "Company") is pleased to announce
encouraging initial drill core assay results from the 2021 exploration and in-fill drill
program at the Punitaqui mine complex (“Punitaqui”) in Chile. Punitaqui is a recently
producing copper and gold mine which is slated for resumption of production mid -
2022.
Highlights
• Assay results (see Table 1) have been returned for the first three holes with
encouraging results as follows (gold values pending):
o Drillhole SAS-21-05: 9 meters (“m”) at 2.06% copper and 20.5
grams per tonne silver (“g/t Ag”).
o Drillhole SAS-21-01: 3m grading 1.52% copper and 2.0g/t silver
• Currently, three drills are operating on-site, and a fourth drill will arrive shortly.
• 2,501 meters of diamond core drilling in 14 drill holes have been completed,
or are in progress, at San Andres.
• Nine drill holes have reached target depth and six have intersected significant
mineralization.
• Samples from eight drill holes have been submitted to ALS for geochemical
analysis.
• The San Andres drill program is designed to confirm and extend the resource
definition drilling to the north and the south and extend mineralization at
depth.
• Recent but historic drilling at Sand Andres reported values including SAS-20-
07 which resulted in 2.69% copper over a true width of 15.6 m (see Table 2).
• The San Andres target is one of several historic zones identified by BMR with
established underground access for infill and extensional drilling.
• San Andres is the “normal” fault displaced upper portion of the adjacent
Cinabrio copper deposit that is part of Punitaqui and was operated for nine plus
years by Glencore and Xiana Mining.
Battery CEO Martin K ostuik states; “We are pleased to announce these initial very
encouraging copper intercepts from our Punitaqui drilling program. Earlier wide -
spaced historic drilling has identified an 800m long zone that is open at depth and in
both directions along strike at San Andres. The SAS-21-05 intercept grading 2.06%
Copper over a 9-meter downhole interval complements historical drill results and
confirms the high -grade nature of the San Andres disseminated sulphide
mineralization. We believe these results demonstrate that this drilling program has
the potential to provide the Company with a n additional source of copper and gold
ore along with existing ore at the adjacent Cinabrio mine. We look forward to
providing further exciting updates for the drill program in the coming weeks”
San Andres Drill Program
Sample assay results were received for the first three holes of the eight drillholes
currently dispatched for analysis (see Table 1 below).
Drillhole SAS-21-01: was designed to test San Andres targeted mineralized horizon
30m north of historic hole SAS -20-07 which intersected a true width of 15.6m of
2.69% copper. The hole intersected a late andesite dyke at the target depth and
exited the dyke near the bottom of the Targeted Stratigraphic Unit (“TSU”) cutting 3
m of the favourable stratigraphy which cont ained both disseminated and veinlet
occurrences of chalcopyrite and bornite. Although much of the drill hole intersected
the dyke, the lower section yielded high-grade copper mineralization which returned
results of 3m grading 1.52% copper and 2.0g/t silver.
Drillhole SASA-21-02: intersected the TSU 30m south of historic hole SAS-20-07.
The hole intersected the same late-stage andesite dyke at the target depth and exited
the dyke near the bottom of the TSU , cutting 8.7m of the favourable stratigraphy
which had abundant pyrite and minor copper mineralization. An updated re -
interpretation of the San Andres zone geology has been completed a nd the three
dimensional geological model is being updated with the new interpretations and new
drilling information.
Drillhole SAS-21-05: intersected the TSU 30m south of historic hole SAS -17-06
that returned a true width section of 7.3m grading 1.73% copper. The hole
intersected the TSU between 186.6m to 234.9m (Figure 2) . The drilled section
consisted of shales, volcanoclastic sandstones, conglomerates and tuff breccia.
Disseminated sulphide mineralization occurred throughout the section with the most
intense sulphide concentration noted between 200.0m – 210.0m and 220.0m –
229.0m which yielded a 10m interval grading 0.52% Cu and 8.70g/t silver and a
higher-grade interval that assayed 9.0m grading 2.06% copper and 20.5g/t silver.
Sulphide m ineralization consisted of chalcopyrite and bornite that occur as
disseminated sulphides and within veinlets.
Table 1: San Andres Drilling Significant Assays Received to Date (gold values pending)
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
SAS-21-01 180.2 183.2 3.0 1.52 2.00
SAS-21-02 185 188 3.0 0.04 1.00
SAS-21-05 200 210 10.0 0.52 8.70
including 203 207 4.0 0.87 4.00
and 220 229 9.0 2.06 20.50
Table 2: San Andres Significant Historical Drillhole Intercepts
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
SAS-17-04A 209 213 4.0 2.52
SAS-17-05 229.15 234 4.85 1.80
SAS-17-06
189 197 8.0 2.30
216 220 7.0 1.87
SAS-20-07 180 196 16.0 2.52
SAS-50 128 139 11.0 2.39
SAS-20-01 186 197 11.0 2.16
SAS-20-08 183 200 17.0 1.74
Figure 1: Punitaqui Geology with Deposits and Drill Targets
Figure 2: SAS-21-05 Drillhole Cross Section 2070N
Background – San Andres Target
The San Andres target is part of the Punitaqui project which is situated within a 25km
long mineralized district that is a classic IOCG and mantos style copper belt that is
comprised of mantos and structural controlled copper-gold-silver veins. San Andres
is a zone of copper mineralization located 500m southwest of the high-grade Cinabrio
deposit mined by Glencore and Xiana Mining.
Prior to 1998, only limited extraction of high-grade copper oxides was undertaken at
San Andres by small groups of local miners. In 2000 a Chilean national company La
Empressa Nacional de Mineria ( “ENAMI”) developed two underground exploration
drives targeting copper sulphides. In 2005 , via an option process, San Andres
became part of the Punitaqui mine complex.
In 2007, a ground geophysical induced polarization (“IP”) survey was completed on
250m - 500m spaced lines across the San Andres -Cinabrio area. The results of the
IP survey lin e across the southern end of the San Andres zone identified a strong
chargeability anomaly interpreted to represent potential extensions of the copper
sulphide mineralization at depth and along strike. Historic wide -spaced drilling
completed by the previo us operators between 2011 - 2017 totaled 58 holes for
5,927m.
San Andres is a tabular sedimentary horizon within a volcanic sequence. This
sedimentary horizon is variably mineralized and has a variable width ranging from
5m - 30m. It consists of an interlayered volcano-sedimentary sequence composed of
dark colored laminated and unlaminated shales, volcanoclastic sandstone ,
conglomerates and breccias and tuff breccias. There is a variable component of
syngenetic pyrite. The horizon dips 40 to 50 degrees to the east and is cut -off at
depth by the moderately west dipping San Andres fault.
Mineralization consists of veinlets and irregular disseminations in both the fine and
coarse-grained clastic rocks and locally within the volcanic rocks above and below
the host unit. The host horizon is also cut and offset by other faults with a wide range
of orientations. The fundamental orientations identified to date include:
• moderately west dipping splays of the San Andres fault , generally with
downward and westward movement
• steep dipping northeast to northwest trending faults with both sinistral and
dextral offsets
• Faults parallel and sub-parallel to stratigraphy
Other Corporate Matters
BMR has appointed Harbor Access LLC as Investor Relations Advi sor to support
management with their investor relations program and investor outreach. The initial
contract is for six months with a monthly retainer of $6,000. Harbor Access is a
recognized advisor to venture companies, with offices in the US and Canada a nd a
wide network of institutional investor in Canada, US and Europe.
BMR has also engaged Investing News Network (INN), a destination web site for the
investment community . INN is an online source of investor -focused news and
educational content on topic s within the resource, cannabis, tech and life science
sectors. Investors can view our company profile in the “battery metals” section of
INN’s website.
Lastly, in an effort to increase investor awareness and knowledge about Battery
Mineral Resources and the rapidly growing global battery mineral industry, BMR has
engaged Cambridge House International, and will be featured in multiple one-on-one
interviews with its CEO Jay Marti n. Videos of the interviews will be posted on the
Cambridge House International YouTube channel.
Quality Control
Sample preparation, analysis and security procedures applied on the BMR exploration
projects is 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 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. 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 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 co upled 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.
Additional Information
Michael Schuler, Battery Mineral Resources Corp. Chile Exploration Manage r,
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. Scientific and technical information pertaining to the
cobalt resource at McAra was extracted from the Company’s NI 43 -101 “Technical
report on Cobalt Exploration Assets in Canada” dated as of May 26, 2020 with an
effective date of March 31, 2020, prepared by Glen Cole (P. Geo) of SRK Consulting
(Canada) Inc.
About Battery Mineral Resources Corp.
Battery is a multi-commodity resource company which provides investors with
exposure to the world -wide trend towards electrification . Battery is engaged in the
discovery, acquisition, and development of battery metals (cobalt, lithium, graphite,
nickel & copper), in North and South America and South Korea with the intention of
becoming a premier and sustainable supplier of battery minerals to the electrification
marketplace. Battery is the largest mineral claim holder in the historic Gowganda
Cobalt-Silver Camp, Canada and continues to pursue a focused program to build on
the recently announced, +1-million-pound cobalt resource at McAra by testing over
50 high-grade primary cobalt silver-nickel-copper targets. In addition, Battery owns
100% of ESI Energy Services, Inc., a pipeline equipment rental and sales company
with operations in Leduc, Alberta and Phoenix, Arizona. Finally, Battery is currently
developing the Punitaqui Mining Complex, and pursuing the potential near term
resumption of oper ations at the prior producing Punitaqui copper -gold mine. The
Punitaqui copper-gold mine most recently produced approximately 21,000 tonnes of
copper concentrate in 2019 and is located in the Coquimbo region of Chile.
For further information, please contact:
Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: [email protected]
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 limi tation, 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.