Battery Mineral Resources Corp. Awards Key Contracts for Drilling Program and Restart Plan at Punitaqui Mine in Chile
Battery Mineral Resources Corp. Awards Key Contracts for Drilling Program
and Restart Plan at Punitaqui Mine in Chile
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Vancouver, British Columbia – (July 7, 2021) – Battery Mineral Resources Corp.
(TSXV: BMR) ("Battery" or the "Company") is pleased to announce that its wholly-
owned subsidiary Minera BMR Chile has awarded the three key contracts to support
the execution of the Punitaqui mine drilling program and technical report. JDS Energy
and Mining Inc. (“JDS”) has been appointed to author the Punitaqui mine technical
report and is responsible for oversight of the study – the conclusion of which will be
the basis for the decision to proceed with a production re -start for the Punitaqui
copper-gold mine. Its anticipated it the report could be filed in approximately six to
eight months.
JDS has a proven track record providing clients with fit -for-purpose solutions and
value delivery and has acquired a reputation for delivering and executing project
plans on budget, on time, and most importantly, safely.
In addition, local company South Pacific Drilling SPA (“SPD”) has been awarded the
exploration and in-fill drilling contract, which includes up to 6,000 meters of both
core and reverse circulation surface drilling. Knight Piesold (“KP”) had been chosen
to oversee the progress of the tailings dam development plans with the detailed
planning being performed by RV Engineering Associates (“RVIA”), a local geotechnical
firm who is a pioneer in filtered tailings facilities in Chile. SPD, KP and RVIA have
extensive experience in their core businesses and share a proven ability to safely
perform well under a variety of conditions.
These appointments establish a key milestone in the Company’s Punitaqui mine
development strategy by employi ng strong expertise in engineering, exploration
drilling, permitting and tailings impoundment design and operations , in order to
advance the Punitaqui Mine project towards a production re-start decision.
Corporate Appointment
The company is also pleased to announce the hiring of Mr. Jacob Willoughby of
Toronto for the newly created position of Vice President of Corporate Development
and Strategy. Mr. Willoughby is a geologist and MBA graduate and has been working
in mining capi tal markets since 2004. He has over eight years of experience as a
mining analyst covering base and precious metals, coal, uranium, fertilizes and rare
metals while working in Toronto. Most recently he was Vice President of Research
and Analyst covering over 30 issuers at a boutique mining securities firm in Toronto.
Jacob also has experience as a President and director of a junior mining company
that focused on base metals with assets in Turkey and Papua New Guinea. Initially,
he will focus on supporting the company’s aggressive growth strategy, engaging with
current and potential future shareholders, research analysts, investment bankers and
consultants, while also supporting the efforts of the company’s CEO, Martin Kostuik.
Commenting on these important developments, Mr. Kostuik stated “ We are very
pleased to have attracted these quality contractors and consultants to kick off the
progression of the Punitaqui copper-gold mine so soon after the private placement
and acquisition. As for the appointment of Jacob, we look forward to his energy and
knowledge in support of the actions we are taking in evaluating next steps for the
growth of the company as we strive to become a near-term and premier supplier of
battery metals to the market.”
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 Min e Complex, and pursuing the potential near term
resumption of operations 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]
Additional Information
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.
The securities offered pursuant to the Private Placement have not been, and will not
be, registered under the U.S. Securities Act of 1933, as amended (the " U.S.
Securities Act") or any U.S. state securities laws, and may not be offered or sold in
the United States or to, or for the account or benefit of, United States persons absent
registration or any applicable exemption from the registration requirements of the
U.S. Securities Act and applicable U.S. state securities laws. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of 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 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.