Battery Mineral Resources Announces Receipt of Positive Nepa Review and Permitted Drilling FOR Its Bonanza Project, Idaho Cobalt Belt, USA
BATTERY MINERAL RESOURCES ANNOUNCES RECEIPT OF POSITIVE NEPA
REVIEW AND PERMITTED DRILLING FOR ITS BONANZA PROJECT, IDAHO
COBALT BELT, USA
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OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Vancouver, British Columbia – (June 28, 2021) – Battery Mineral Resources Corp.
(TSXV: BMR) (" Battery" or the " Company") is pleased to announce exploration
updates from its 100% owned Bonanza Project within the Idaho Cobalt Belt, USA.
The US National Forest Service has approved Battery’s Plan of Operations for six drill
sites on the Bonanza Project, concurring there will be no effect to any environmental
resources in the area.
The principal target area sits along strike of the mineralized geology in a zone of
anomalous copper and cobalt mineralized soils trending north -northwest for
approximately 3.5 k ilometers. In the 1940’s, previous workers performed limited
drilling and underground investigation in two select areas within this anomalous zone,
named the Bonanza Tunnels and Tinkers Pride adits. Subsequent channel sampling
at the Tinkers Pride adit, including 0.70% Co, 2.12% Cu, and 0.58 g/t Au over 17
metres, indica te the potential existence of a substantial mineralizing system at
Bonanza that was offset from Jervois’ and the Blackbird block.
Within Battery’s 3,200 hectare Bonanza Project holdings, the six drill sites, including
9 to 12 diamond core holes, are designed to target mineralization exposed in outcrop,
twin and test the plunge of mineralized intercepts from historic drilling, and target
anomalies identified from previous IP and RES ground line surveys.
Future work will lik ely include expansion of the drilling along strike and to depth;
other sites of economic mineralization in the greater district- like the former Blackbird
Mine and Jervois’ Ram Deposit- imply that mineralization in this district is stratabound
and carries substantial extent along trend and to depth.
Background
The Bonanza Project encloses an area of widespread copper -cobalt-gold
mineralization, first recognized in the late 1800’s as a mineralized horizon offset by
faulting from the Blackbird mining distri ct immediately to the southeast, which
includes Jervois Mining’s Ram Deposit, at the former Blackbird Cobalt Mine, which
hosts a Reserve of 2.5 million tonnes of 0.55 percent cobalt (“% Co”), 0.8 percent
copper (“% Cu”), and 0.64 gram per tonne gold (“g/t Au”) for 30 million pounds of
contained cobalt and is currently under construction.
Production from the Blackbird Mine area during 1950 -1980 led to district -scale
exploration which, at Bonanza, included the development of several adits, trenches
and surface sampling. Historic drilling reported several mineralized intersections
ranging up to 1.5 metre of 0.76% Co and 5.15% Cu and select rock samples reaching
from 1.1% - 4.57% Co.
To date, Battery has collected 712 grid -spaced soil and 45 rock samples from i ts
Bonanza Project submitted to ALS laboratories in Vancouver, BC for analysis. The
samples outline an approximate 2,000 metre-long by 700 metre-wide area of highly
anomalous copper and cobalt mineralization.
An additional 3.2 line-kilometre of ground induced polarization line surveys and 550
line-kilometre of airborne magnetic and radiometric surveys from the Project
delineate the trend of anomalous mineralization and provide confidence supporting
several drill targets.
Recently, Battery collected 92 continuous chip samples following mineralization
exposed in one of three underground workings testing mineralization along a 2km
strike. Sampling intercepted the following:
• 2 meter (“m”) channel assaying 2.58 percent cobalt (“% Co”), 2.7 perc ent
copper (“% Cu”), and 1.14 gram per tonne gold (“g/t Au”), and
• 17m with a weighted average of 0.70% Co, 2.12% Cu, and 0.58 g/t Au,
including a 1m channel assaying 5.51% Co, 1.0% Cu, and 1.28 g/t Au;
• Five additional 1.0 metre-long channel samples ranged from 0.25% to 5.0%
Co, and assays up to 6.91% Cu and 3.57 g/t Au.
The assay results confirm the high potential of the Bonanza Project to host a
substantial volume of stratibound mineralization, interpreted as a structurally -
displaced block within the principle epicenter for cobalt and copper mineralization in
the entire Idaho Cobalt Belt, and represents a significant drill-ready target for future
exploration programs.
As a matter of procedure, a rigorous on -site quality assurance and quality control
program was implemented that included the insertion of blanks, standards and
duplicates within the samples to ensure reliable assay results.
Commenting on the results, Mr. Kostuik stated: "Our 100%-owned, 3,200 hectare
Bonanza Project is an under-explored battery metals opportunity sitting adjacent to
Noranda’s former Blackbird cobalt -copper mine and is within the most productive
cobalt belt in North America. The grades and extent of mineralization are very
encouraging and the Company is pleased to have received our drill permit. The
Bonanza Project is an excellent opportunity to meet critical demands for the
electrification of our future."
The technical information contained in this press release has been reviewed and
approved by Scott Close, M.Sc, P.Geo, and a Qualified Person as defined by National
Instrument 43-101.
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 operations at the prior producing Punitaqui copper -gold mine. T he
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]
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