Battery Mineral Resources Cobalt Exploration Update: Follow-up Drilling to Commence at the Fabre WEST Prospect, Quebec
BATTERY MINERAL RESOURCES COBALT EXPLORATION UPDATE:
FOLLOW-UP DRILLING TO COMMENCE AT THE FABRE WEST
PROSPECT, QUEBEC
Vancouver, British Columbia – (November 8, 2021) – Battery Mineral Resources Corp.
(TSXV: BMR) (OTCQB:BTRMF) ("Battery" or “BMR” or the "Company") announces
the commencement of phase 2 diamond drilling at the Fabre West prospect. The
current program of 1,500 meters (“m”) will follow-up earlier successful cobalt-silver
mineralized intercepts and test the southwest extension of a coincident geophysical
anomaly.
The Fabre project is located in the Ontario-Quebec cobalt embayment which has
historical production of 525 Moz of silver and 50Mlbs of Co balt and 30 kilometres
southeast of the historic mining and refining town of Cobalt, Ontario.
Highlights
• A 2020 detailed review of exploration work on the Fabre West prospect resulted
in the decision to complete a follow -up high resolution three dimensional
induced polarization (“3D-IP”) survey focussed on the area southwest of the
2019 drilling where a second chargeability anomaly was identified at the edge
of the 2018 survey.
• Historic (1947 – 2010) high-grade cobalt (“Co”)-silver (“Ag”) drill intercepts
include (drill hole ID: grade, interval length):
o 1947-40: 1.6% Co and 59.9g/t Ag over 1.3m and 2.5% Co and 8.7g/t
Ag over 0.9m;
o FV95-1: 2.7% Co and 714.2g/t Ag over 1.1m and 303.3g/t Ag over
5.6m including 8.0% Co over 0.5m;
o TRS-F002-10: 68.4g/t Ag over 30m.
• In early 2019, a BMR diamond drill program (18 holes/2,917 meters)
targeted Archean rocks for cobalt-silver mineralization. Significant silver
zones intercepted include:
o FAW19-001: 37.6g/t Ag over 8.0m from 37.0m;
o FAW19-003: 419.3g/t Ag over 3.0m from 64.4m,
o FAW19-004: 123.8g/t Ag over 7.5m from 77.6m including 0.5m of
0.74% Co and 1,740.0g/t Ag at 79.3m,
o FAW19-011: 191.2g/t Ag over 4.0m from 4.0m.
• The 2019 drilling also produced several anomalous base metal values (zinc-
Zn, copper- Cu, lead- Pb) associated with the silver zones that included:
o FAW19-002: 0.50% Zn over 23.8m from 4.2m, and 0.18% Zn over
49.8m from 84.2m;
o FAW19-004: 0.17% Cu, 0.15% Pb and 0.09% Co over 7.5m from
77.6m;
o FAW19-006: 1.20% Zn, 0.49% Pb and 8.65g/t Ag over 11m from 7m,
hole.
Battery CEO Martin Kostuik comments; “This drill program is a follow-up and
continuation of previously successful exploration campaigns at Fabre which
displayed very good values of cobalt and silver. Previous drilling coupled with
geophysics indicate the Fabre West target is open along strike to the southwest. We
are very excited because this is how our 1 million plus pound and 1.47% McAra
cobalt resource began. We look forward to drill testing this prospective high-grade
cobalt-silver target beginning immediately.”
About the Fabre West program:
The Fabre project is in Northwestern Quebec, a bout 150 kilometres northeast of
Sudbury, Ontario (Figure 1) and about 30 kilometres southeast of the historic Cobalt
Camp. It comprises 1,813 hectares (18.1 square kilometres) in one semi-contiguous
block.
The property is underlain by Neoarchean intermediat e to felsic metavolcanic rocks,
metasedimentary rocks, and older granitoid basement of the Abitibi Subprovince.
These rocks are cut by shear zones and regional faults. The Archean basement units
are unconformably overlain by sandstones, feldspathic sandsto nes, and polymictic
conglomerates of the Proterozoic Huronian Supergroup that have been assigned to
the Coleman member of the Cobalt Formation. A large northeast -trending Nipissing
diabase intrusion occurs in the central and eastern parts of the Fabre property.
Extensive historic work took place on the Fabre West claim blocks following the
discovery of high-grade silver veins near Cobalt, Ontario. In 1947, hole No. 40 drilled
on Fabre West intersected a 1.4-metre interval grading 1.58% cobalt, 59.90g/t silver,
3.09g/t gold and 1.40 % copper, at a depth of 207.4 metres. Mineralization is
described as 0.2m of massive sulphides. A second intercept of 0.9 metres, graded
2.54% cobalt and 8.71g/t gold.
In 1995, a follow -up drillhole FV -95-1 by Sementiou Inc produced assays of
714.20g/t silver, over 0.57 metres from 114.73m and 8.00% cobalt and 600.00g/t
silver over 0.49 metres from 1 31.41m. Mineralization consisted of up to 15%
sulphides, composed of pyrite, sphalerite, chalcopyrite, locally smaltite, and possibly
cobaltite, that occur in veinlets, lenses, and disseminations.
In 2010, Tres-Or Resources collected a rock sample from a workings muck pile near
the main prospecting shaft that assayed 0.99% cobalt, 23.30g/t silver and 0.33g/t
gold. The company also drilled two holes targeting the historic mineralization
reported from holes 40 and FV 95 1. The best drill intercept was 201g/t silver over 9
metres from 85.00m in hole TRS-F002-10.
BMR has explored t he property since 2016. Work do date includes rock sampling,
geological mapping and prospecting as well as geophysical data collection . BMR’s
exploration focused on locating historical workings, understanding the bedrock
geology, and to conduct and interpret geophysical data to generate drill -targets.
Airborne geophysical surveys included a 2016 property wide airborne magnetics and
radiometrics. Historic surface and drill core samples confirmed the area contained
anomalous amounts of cobalt-silver, and geological mapping by BMR showed that the
host rocks are somewhat like those at the McAra cobalt deposit.
In mid 2018 , BMR completed an exploration program that included prospecting,
geological mapping and rock sampling. Additional grid-based geophysical surveys ,
ground magnetics and a high-resolution 3D-IP survey. The 3D-IP survey grid was
spatially constrained due to several cultural features and access issues resulting in
only partial coverage of the planned survey area. The magnetic data map the Archean
bedrock but do not outlin e the overlying, non -magnetic Huronian sediments.
Comparison of the magnetics to the Fabre West geology confirm that the magnetics
data differentiate the less magnetic felsic tuff unit and the adjacent, more magnetic
porphyry unit. The magnetic low that ou tlines the felsic tuff unit was interpreted to
represent a potential hydrothermal alteration within th ese more permeable host
rocks, that coincides with the cobalt and base metal mineralized zones.
Inversion modelling of the 3D-IP data was correlated with the underlying geology and
historic exploration results to develop drill targets. Drillhole targeting was based on
bedrock geology, historic drill cobalt -silver results, proximity to the historic surface
workings as well as two structural trends identified in the magnetics; north –south
and northeast -southwest. A coincident high-amplitude chargeability anomaly was
also targeted.
In early 2019, diamond drilling by BMR (18 holes for a total of 2,917m) targeted the
cobalt-silver mineralized zones (Figure 2). Significant intercepts include:
o FAW19-001: 18.51g/t Ag over 6.25m from 9.75m
o FAW19-001: 37.63g/t Ag over 8m from 37m
o FAW19-001: 15.60g/t Ag over 4.95m from 81.05m
o FAW19-001: 136.77g/t Ag over 21.13m from 90.87m
o FAW19-003: 419.33g/t Ag over 3.00m from 64.44m
o FAW19-004: 123.83g/t Ag over 7.45m from 77.57m including 0.5m at
0.74% Co and 1,740.00g/t Ag from 79.3m
o FAW19-007: 34.09g/t Ag over 2.40m from 4m.
o FAW19-010: 46.03g/t Ag over 8m from 5m
o FAW19-010: 17.69g/t Ag over 3.25m from 87m
o FAW19-011: 191.21g/t Ag over 4m from 4m
(All intercepts quoted as downhole core lengths)
The drilled area covers a strike length of 600m, and over that distance rock types
vary widely. Volcanoclastic and felsic rocks are common in the drilled area around
the cobalt-silver zone, whereas gabbro, porphyry and mafic volcanic rocks dominate
to the east of the main zone, in hole FAW19-005. The volcanoclastic and felsic rocks
around the cobalt-silver zone could mark synvolcanic faults that focused mineralizing
fluids into the upper crust and may also have been part of a larger caldera system.
The Fabre West target hosts anomalous cobalt-silver mineralization. Cobalt strongly
correlates with arsenic and copper, which reflects the elemental composition and type
of the ore mineralogy as well as the host rock environment (VMS setting). Silver
correlates moderately with arsenic, cobalt, bismuth, and copper.
A 2020 detailed review of the Fabre West prospect resulted in the decision to
complete a follow-up high resolution 3D IP survey focussed on the area southwest of
the 2019 drilling where a second chargeability anomaly was identified at the edge of
the 2018 survey. A re-interpretation of the structural controls for the mineralization
at Fabre West indicates that the better silver intercepts maybe related to a series of
folds and several of the planned drillholes will test the interpreted fold closures.
In December 2020, a follow-up 3D induced polarization survey was completed. An
integrated 3D IP inversion model that combined all the available data from 2018 and
2020 was developed and interpreted. The new 3D inversion model confirmed the
high-amplitude chargeability anomaly southwest of the 2019 BMR drilling and near
the historic high-grade cobalt-silver drill intercepts.
Figure 1: Fabre Project Location Map - Datum is UTM NAD83 Z17N
Figure 2: Fabre West Drill Plan with BMR 2019 Drillholes and Planned 2021 Drillholes
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 insure high quality collection and management of
samples resulting in reliable exploration assay data. BMR has implemented formal
analytical quality control monitoring for all of its field sampling and drilling
programs by inserting blanks and certified reference materials into every sample
sequence dispatched.
Sample preparation was performed by ALS Minerals Laboratories (“ALS”) in Sudbury,
Ontario and sample analyses by ALS in North Vancouver, British Columbia. ALS
analytical facilities are commercial laboratories and are independent from BMR. All
BMR samples were bagged by BMR staff and delivered Upon receipt at the ALS
Laboratory in Sudbury, samples were logged in a sophisticated laboratory information
management system for sample tracking, scheduling, quality control, and electronic
reporting. Samples were dried in special drying ovens prior to crushing. The samples
were crushed to 70% < -2 mm and a riffle split of 250 grams was then pulverized to
85% of the material achieving a size of <75 microns. These prepared samples were
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 produced results for 48 elements.
• ME-OG62: Aqua-Regia digest: Analysed by ICP Atomic Emission Spectrometry
or sometimes called optical emission spectrometry for high levels of Co balt,
Copper, Nickel and Silver.
• Ag-GRA21: Silver by fire assay and gravimetric finish; 30-gram charge weight
used when samples contain greater than 1,500 parts per million silver.
• Au-AA25: Gold was analysed by a 30 -gram fire assay method, followed by
atomic absorption spectroscopy.
Note that 48 element ICP trace element data was also collected and reported by the
laboratory. Certified international standards were inserted into sample batches by
ALS. Blanks and duplicates are inserted within each analytical run. The blank is
inserted at the beginning, internationally certified standards are inserted at random
intervals, and duplicates are analysed at the end of the batch.
Qualified Persons
P. J. Doyle, FAusIMM (#208850), Battery Mineral Resources Corp. - Vice President
Exploration supervised the preparation of and approved the scientific and technical
information in this press release pertaining to the Canada Exploration Program.
Technical reports filed by the Company under the Company’s profile at
www.sedar.com: “Technical Report on Cobalt Exploration Assets in Canada” dated as
of May 26, 2020 with an effective date of March 31, 2020, prepared by SRK
Consulting – G Cole PGeo (APGO#1416).
Issuance of Stock Options
The Company has granted 250,000 stock options to a Consultant of the Company at
an exercise price of $ 0.75 per share. The option will vest over the next 12 months
and will expire after 5 years, ending November 1, 2026.
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 . Battery is
currently developing the Punitaqui Mining Complex and pursuing the potential near
term resumption of operations for se cond half of 2022 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.
Battery is engaged in the discovery, acquisition, and development of battery metals
(cobalt, lithium, graphite, nickel and 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 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.
For further information, please contact:
Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: [email protected]
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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 contingen cies. 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.