Battery Mineral Resources Announces Punitaqui Drilling Update Continues to Deliver Encouraging Copper Results
BATTERY MINERAL RESOURCES ANNOUNCES PUNITAQUI DRILLING
UPDATE CONTINUES TO DELIVER ENCOURAGING COPPER RESULTS
Vancouver, British Columbia – (October 14, 2021) – Battery Mineral Resources Corp.
(TSXV: BMR) ("Battery" or “BMR” or the "Company") is pleased to announce further
encouraging drill core assay results from the on-going 2021 exploration and in -fill
drill program at the Punitaqui mine complex (“Punitaqui”) in Chile . Punitaqui is an
advanced stage copper mining complex with recent production history. The Company
is focused on bringing the mine back into production by mid to late 2022.
Highlights
• Partial assay results from drillholes SAS-21-11, 12, 13, 19, and 21 (see Table
1) have been returned with encouraging results as follows:
o Drillhole SAS-21-12: 7 meters (“m”) at 1.81% Copper (“Cu”)
from 176m downhole and a second intercept of 2m grading 1.04%
Cu from 162m downhole.
o Drillhole SAS-21-13: 3m at 1.96% Cu from 217m downhole, 3m
grading 0.87% Cu from 199m and a third interval of 1.8m at
0.83% Cu from 211m downhole.
o Drillhole SAS-21-21: 13m at 0.96% Cu from 106m downhole and
4m grading 1.19% Cu from 115m downhole.
o Drillhole SAS-21-19: 3m at 1.50% Cu from 75m downhole.
o Drillhole SAS-21-11: 2m at 0.91% Cu from 53m downhole.
• Currently, four drills are operating on-site with two at San Andres.
• Sample results have been received for 17 drill holes. Samples for an additional
five drill holes have been submitted to ALS for geochemical analysis and more
are being prepared for shipment.
• The San Andres drill program is designed to confirm resources identified by
previous drilling programs and expand these resources north and south along
strike and at depth.
• Earlier results from the current program (see Table 2) included:
o SAS-21-07: 3.4m at 2.10% Cu and a second interval of 4m at
1.56% Cu.
o SAS-21-05: 9m at 2.06% Cu.
o SAS-21-03: 11m at 1.39% Cu including 8m at 1.63% Cu.
o SAS-21-08: 5.25m at 1.39% Cu and a second interval of 3.75m at
1.85% Cu.
o SAS-21-01: 3m grading 1.52% Cu.
o SAS-21-04: 16.7m grading 1.37% Cu including 11.7m at 1.64%
Cu and a second interval of 9m at 1.75% Cu.
• The San Andres target is one of several historic zones within BMR’s Punitaqui
project with partially delineated resources and established underground
access.
• San Andres is the “normal” fault displaced upper portion of the adjacent
Cinabrio copper deposit that is part of Punitaqui which produced between 20
and 25 million pounds of copper annually for nine plus years by Glencore and
Xiana Mining.
Battery CEO Martin Kostuik states ; “We are pleased to announce these new
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. These new assays further demonstrate
the extent and high-grade nature of the mineralization over significant sample
intervals. We believe these new results demonstrate that this drilling program has
the potential to provide the Company with a n additional source of copper ore along
with existing ore at the adjacent Cinabrio mine. We look forward to providing further
exciting updates for the drill program as we progress towards a potential near term
resumption of operations and cashflow at Punitaqui.”
San Andres Drill Program
Sample assay results, reported herein, are from five drill holes and are in addition to
the results reported previously from the first eight drillholes completed at San Andres
(see Tables 1 and 2 below). These results are only partial assays and additional
significant intervals may be reported from these same holes when complete results
are received.
Drillhole SAS-21-11 was designed to test the San Andres targeted stratigraphic
unit (“TSU”) at shallow depths just below the oxide-sulphide transition in the northern
part of the San Andres target. The drill hole intersected 3m of the TSU that hosted
the disseminated pyrite-chalcopyrite mineralization and the interval from 53m to 55m
yielded a 2m interval grading 0.91% copper Cu.
Drillhole SASA-21-12 targeted the TSU 60m down -dip from drillhole SAS -21-01
which encountered a significant amount of post mineralized dykes at the target depth
but intersected 3.0m at 1.52% Cu. This follow-up drillhole intersected a 34m wide
section of the mineralized horizon consisting of interbedded shales, sandstones and
tuff breccia. Two sulphide intercepts were reported between 1 62m and 183m
downhole. The upper intercept was 2m grading 1.04% Cu from 162m and a lower
second wider interval cut 7m at 1. 81% Cu from 176m. This successful down -dip
step-out outside the dykes confirms both lateral continuity and grade of the
mineralization.
Drillhole SAS-21-13 was planned to test the TSU 60m up-dip from the SAS-21-09.
The drillhole intersected a 21m interval from 199m to 220m of the TSU consisting of
dark shales, volcanoclastic sandstones and conglomerates with abundant syngenetic
pyrite and chalcopyrite. Three significant mineralized intervals were reported within
the TSU and included 3m of 0.87% Cu from 199m; 1.m at 0.83% Cu from 211m and
3m grading 1.96% Cu from 217m.
Drillhole SAS-21-19 was designed as a step-out exploration hole from SAS-21-11
to test the TSU 60m south and down-dip. The drillhole intersected a 26m section of
the targeted stratigraphic unit with weak disseminated chalcopyrite mineralization
throughout. A 3m mineralized interval returned 1.50% Cu from 75m downhole.
Drillhole SAS -21-21: tested the targeted stratigraphic unit up -dip of historic
drillholes SAS-19-09 and SAS -20-01. The TSU was intercepted from 221.7m –
236.7m of shale -sandstone with variable chalcopyrite and bornite as disseminated
sulphides and copper bearing veinlets. The mineralized horizon produced a significant
result of 13m at 0.96% Cu from 106m including 4m at 1.19% Cu from 115m.
Table 1: San Andres Drilling Latest Significant Assays Results – October 2021
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
SAS -21-11 53.0 55.0 2.0 0.91
SAS-21-12 162.0 164.0 2.0 1.04
and 176.0 183.0 7.0 1.81
SAS-21-13 199.0 202.0 3.0 0.87
and 211.0 212.8 1.8 0.83
and 217.0 220.0 3.0 1.96
SAS-21-19 75.0 78.0 3.0 1.50
SAS-21-21 106.0 119.0 13.0 0.96
including 115.0 119.0 4.0 1.19
Note: All Intercepts reported as downhole core intervals
Table 2: San Andres 2021 Drill Program Significant Drillhole Intercepts
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
SAS-21-01 180.2 183.2 3.0 1.52
SAS-21-02 185.0 188.0 3.0 0.04
SAS-21-03
including
198.0 209.0 11.0 1.39
201.0 209.0 8.00 1.63
SAS-21-04
including
and
185.0 201.7 16.7 1.37
190.0 201.7 11.7 1.64
223.0 232.0 9.0 1.75
SAS-21-05
including
and
200.0 210.0 10.0 0.52
203.0 207.0 4.0 0.87
220.0 229.0 9.0 2.06
SAS-21-07
and
244.65 248.05 3.4 2.10
257.0 261.0 4.0 1.56
SAS-21-08
and
221.75 227.0 5.25 1.39
232.9 236.65 3.75 1.85
Note: All Intercepts reported as downhole core intervals
Figure 1: Cinabrio – San Andres Area Geology And Targets Map
Figure 2: San Andres Drillhole Location Map
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 line 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 previous operators between 2011 - 2017 totaled 58 holes for
5,927m.
San Andres is a ta bular 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 unlami nated 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
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 pac kaged 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 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.
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.
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.
A battery mineral company with high-quality assets providing shareholders exposure
to the global mega-trend of electrification and focused on growth through cash-flow,
exploration, and acquisitions in the world’s top mining jurisdictions. BMR is currently
developing the Punitaqui Mining Complex and pursuing the potential near term
resumption of operations at the prior producing Punita qui 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 . BMR 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 Mineral Resources 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 high-grade
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., also
known as Ozzie’s, a pipeline equipment rental and sales company with operations in
Leduc, Alberta and Phoenix, Arizona.