Battery Mineral Resources Continues to Deliver Encouraging Copper Results at Punitaqui MINE
BATTERY MINERAL RESOURCES CONTINUES TO DELIVER ENCOURAGING
COPPER RESULTS AT PUNITAQUI MINE
Vancouver, British Columbia – (November 1 6, 2021) – Battery Mineral
Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or “BMR” or the
"Company") is pleased to announce encouraging drill core assay results from
the 2021 exploration and in -fill drill program at the Punitaqui mine complex
(“Punitaqui”) in Chile. Punitaqui is slated for resumption of production mid to
late-2022. The San Andres target is one of several historic zones within BMR’s
Punitaqui project with partially delineated resources and established
underground access.
Highlights
• Final assay results from San Andres drillholes SAS-21-14, 15, 17, 20, 23 and
24 (see Table 1) have been returned with encouraging results as follows:
o Drillhole SAS-21-14: 28.1 meters (“m”) at 0.98% Copper (“Cu”)
from 203m downhole including 10.1m at 1.44% Cu and a second
intercept of 9.4m grading 1.24% Cu from 227m.
o Drillhole SAS-21-15: 3.0m at 0.5% Cu from 116m, 3.0m grading
0.48% Cu from 133m and a third interval of 2.0m at 0.51% Cu
from 139m.
o Drillhole SAS-21-17: 3.6m at 1.04% Cu from 241m.
o Drillhole SAS-21-20: 2.4m at 0.70% Cu from 266.9m.
o Drillhole SAS-21-23: 2.8m at 1.00% Cu from 194m.
o Drillhole SAS-21-24: 3.0m at 0.82% Cu from 231m.
• Final complete multi -element results were received for previously reported
holes SAS-21-19, and 21 (see Table 1):
o Drillhole SAS-21-19: 5.0m at 1.08% Cu from 74m including 4.0m at
1.24% Cu.
o Drillhole SAS-21-21: 25.0m at 0.88% Cu from 106m including
13.0m at 0.96% Cu and 4.0m at 1.19% Cu from 115m and a
second main intercept of 2.0m at 1.12% Cu from 136m.
• 29 of the San Andres drill holes reached target depth and 21 have intersected
significant mineralization and results have been received for 24 drill holes
• 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-21-01: 3.0m grading 1.52% Cu.
o SAS-21-03: 11.0m at 1.39% Cu including 8.0m at 1.63% Cu.
o SAS-21-04: 16.7m grading 1.37% Cu including 11.7m at 1.64%
Cu and a second interval of 9.0m at 1.75% Cu.
o SAS-21-05: 9.0m at 2.06% Cu.
o SAS-21-07: 3.4m at 2.10% Cu and a second interval of 4.0m at
1.56% Cu.
o SAS-21-08: 5.3m at 1.39% Cu and a second interval of 3.8m at
1.85% Cu.
o SAS-21-11: 2.0m at 0.91% Cu.
o SAS-21-12: 7.0m at 1.81% Cu and a second intercept of 2m
grading 1.04% Cu.
o SAS-21-13: 3.0m at 1.96% Cu from 217m downhole, 3.0m grading
0.87% Cu from 199m and a third interval of 1.8m at 0.83% Cu
from 211m.
• San Andres is the “normal” fault displaced upper portion of the adjacent
Cinabrio copper d eposit that is part of Punitaqui which typically produced
between 20 and 25 million pounds of copper an nually for nine plus years by
Glencore and Xiana Mining.
Battery CEO Martin Kostuik states; “There are very few companies around the world
that have the opportunity to transition from development into potential resumption
of copper production in the second half of 2022 and we are thrilled be one of them .
Our recent acquisition of the former producing Punitaqui copper mine in Chile will
give our investors an opportunity to participate in a potentia lly significant re-rating
in BMR’s valuation as we transition from development to operations and positive
cash-flowing. The development of Punitaqui towards a restart is progressing well on
all fronts such as drilling, engineering and permit modifications and we look forward
to presenting the restart plan for the mine in Q1 2022. In addition, we believe these
new drilling results demonstrate that this 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
• Currently, four drills are operating at Punitaqui – two at San Andres and two
at Dalmacia.
• 6,484 meters of diamond core drilling in 31 drill holes have been completed at
San Andres (See Figure 1 and Figure 2).
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 Table 1 and Table 2 below). These results are only partial and additional
significant intervals may be reported from these same holes when complete
results are received.
Drillhole SAS-21-14 was designed to test the San Andres targeted stratigraphic
unit (“TSU”) 120m up-dip from the SAS-21-07 intercept (3.4m at 2.10% Cu and a
second interval of 4.0m at 1.56% Cu). This up-dip test resulted in two intercepts
that were significantly wider than the deeper intercepts ;28.1m at 0.98% Cu &
3.3g/t Ag from 203m including 10.1m at 1.44% Cu & 1.4g/t Ag from 203m and
a second intercept of 9.4m grading 1.24% Cu & 3.4g/t Ag from 227m (See Figure
3).
Drillhole SAS-21-15 targeted the TSU about 150m along strike to the south of
historic intercept SAS-17-06 (8.0m at 2.30% Cu and 4.0m at 1.87% Cu). 25m of
the TSU was drilled with chalcopyrite mineralization throughout and produced assays
of 3.0m at 0.5% Cu & 8.3g/t Ag from 116m, 3.0m grading 0.48% Cu & 6g/t
Ag from 133m and a third interval of 2.0m at 0.51% Cu from 139m.
Drillhole SAS-21-17 was planned to test the targeted stratigraphic unit 50 meters
down-dip of the high-grade intercept in SAS-21-05 (9.0m at 2.06% Cu). The hole
produced an 8.0m interval of volcanoclastic sediments where d isseminated
chalcopyrite and native copper in veinlets were noted within the intercept that
produced assays of 3.6m at 1.04% Cu & 1.0g/t Ag from 241m.
Drillhole SAS-21-19 was designed as a step-out from SAS-21-11 to test the TSU
60m south along strike and down-dip. The drillhole intersected a 26m section of the
TSU with disseminated chalcopyrite mineralization throughout. A ssays reported
included 5.0m at 1.08% Cu & 2.0g/t Ag from 74m including 4.0m at 1.24% Cu
& 2.2g/t Ag.
Drillhole SAS-21-20 was designed to test the TSU down-dip of historic hole SAS-
21-07 (3.4m at 2.10% Cu) . The new hole intercepted 2.5m of shaley sediments
with copper oxides noted that resulted in an assay of 2.4m at 0.70% Cu from
266.9m.
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 22 2m and
extended 15m to 237m. It intercepted shale-sandstone with variable chalcopyrite
and bornite as disseminated sulphides and copper bearing veinlets. The mineralized
horizon produced significant result s from two main in tervals. They are 25.0m at
0.88% Cu & 14.9g/t Ag from 106.0m including 13.0m at 0.96% Cu & 21.8g/t
Ag from 106.0m and including 4.0m at 1.19% Cu & 20.1g/t Ag and a second
main intercept of 2.0m at 1.12% Cu & 18.2g/t Ag from 136m.
Drillhole SAS-21-23 was designed to test the TSU 60m up -dip of mineralization
intercepted in SAS-21-14 (28.1m at 0.98% Cu & 3.3g/t Ag including 10.1m at
1.44% Cu & 1.4g/t Ag and a second intercept of 9.4m grading 1.24% Cu &
3.4g/t Ag). The hole intercepted a 7m interval of the TSU which yielded an assay of
2.8m at 1.00% Cu & 8.7g/t Ag from 194m.
Drillhole SAS-21-24 tested the targeted stratigraphic unit 60m down-dip of SAS-
21-09 (19m at 1.60% Cu & 13.1 g/t Ag) in the southern part of the San Andres zone.
The hole returned 14.4m of the TSU that produced 3.0m at 0.82% Cu & 1.7g/t Ag
from 231m.
Table 1: San Andres Drilling Latest Significant Assays Results – November 2021
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
SAS-21-14 203.2 239.0 35.8 0.98 3.3
including 203.2 216.0 12.8 1.44 1.4
including 207.0 216.0 9.0 1.83 5.9
and 227.0 239.0 12.0 1.24 3.4
SAS-21-15 116.0 119.0 3.0 0.50 8.3
and 133.0 136.0 3.0 0.48 6.0
and 139.0 141.0 3.0 0.51 0.4
SAS-21-17 241.4 245.0 3.6 1.04 1.0
SAS-21-19 74.0 79.0 5.0 1.08 2.0
including 74.0 78.0 4.0 1.24 2.2
SAS-21-20 266.9 269.3 2.4 0.70 0.1
SAS-21-21 106.0 131.0 25.0 0.88 14.9
including 106.0 119.0 13.0 0.96 21.8
including 115.0 119.0 4.0 1.19 20.1
and 136.0 138.0 2.0 1.12 18.2
SAS-21-23 194.0 196.75 2.8 1.00 8.7
SAS-21-24 231.0 234.0 3.0 0.82 1.7
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 8.0 1.63
SAS-21-04
Including
and
185.00 201.7 16.7 1.37
190.00 201.7 11.7 1.64
223.00 232.0 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
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
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
Figure 3: San Andres Drillhole SAS-21-14 Cross-Section
Background – San Andres Target
The San Andres target is part of the Punitaqui project which is situated within a
25-kilometer-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 minerali zation at depth and along strike. Historic wide -spaced drilling