Dalmacia Drilling Delivers Encouraging Initial Copper Results at Battery Mineral Resources Punitaqui MINE
DALMACIA DRILLING DELIVERS ENCOURAGING INITIAL COPPER RESULTS
AT BATTERY MINERAL RESOURCES PUNITAQUI MINE
Vancouver, British Columbia – (November 29, 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 copper concentrate production in mid to late-
2022. The Dalmacia Target is second of several historic zones within BMR’s Punitaqui
project with partially delineated resources and established unde rground access.
Dalmacia is located in the southern portion of the Punitaqui area about 6 kilometers
south of the Punitaqui copper processing plant.
Highlights
• Complete final assay results from two Dalmacia drillholes (DS-21-01 and DS-
21-02 see Table 1) have been returned with encouraging results as follows:
Drillhole DS-21-O1:
o 12 meters (“m”) grading 1.79% copper (“Cu”) and 2.5g/t
silver (“Ag”) including 8m at 2.44% Cu, 3.2g/t Ag and 0.04g/t
gold (“Au”)
o 23m grading 1.16% Cu and 1.7g/t Ag including 13m at 1.56%
Cu and 2.1g/t Ag and including 7m at 2.32% Cu, 3.1g/t Ag and
0.04g/t Au
o 2m at 1.06% Cu, 0.7g/t Ag and 0.03g/t Au
o 4m at 0.89% Cu and 0.4g/t Ag
o 4.9m at 0.72% Cu and 0.6g/t Ag
Drillhole DS-21-02:
o 7m grading 1.67% Cu, 2.6g/t Ag and 0.08g/t Au
o 10m at 1.03% Cu and 2.1g/t Ag including 3m at 1.49% Cu and
2.3g/t Ag
o 2m at 2.34% Cu and 5g/t Ag
o 7m at 2.58% Cu and 2.7g/t Ag
o 11m at 1.08% Cu, 0.9g/t Ag and 0.08g/t Au including 4.0m at
2.32% Cu, 1.4g/t Ag and 0.17g/t Au and including 3.0m at
2.90% Cu, 1.7g/t Ag and 0.22g/t Au.
• Thirteen holes completed at Dalmacia have reached target depth and all holes
have intersected significant visible copper mineralization.
• The Dalmacia drill program is designed to confirm mineralized zones identified
by previous drilling programs and expand these mineralized zones north and
south along strike and at also depth.
• Earlier results from historic exploration drilling programs include:
o DS-11-02: 17.9m at 1.34% Cu and 28.5m at 1.60% Cu
o DS-12-08: 9.7m at 1.39% Cu
o DS-12-12: 10.3m at 1.48% Cu
o DS-12-20: 7.5m at 1.76% Cu and 21m at 1.09% Cu
o DS-13-05: 9.0m at 1.62% Cu and 13.5m at 1.77% Cu
o DS-14-07: 27m at 1.62% Cu
o DS-14-12: 20m at 1.52% Cu
o DS-14-13: 26m at 1.23% Cu
o DS-14-14: 15m at 1.14% Cu
o DS-14-16: 24m at 1.10% Cu and 18m at 1.02% Cu
o DS-12-15: 25.8m at 1.79% Cu and 17.3m at 1.30% Cu
Battery CEO Martin Kostuik states ; “Our recent acquisition of the former producing
Punitaqui copper mine in Chile will give our investors an opportunity to participate in
a potentially 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, as the drilling program progres ses across the various
mineralized zones, we are excited to report the first of many results for Dalmacia.
These new drilling results demonstrate that this program has the potential to provide
the Company with an additional source of copper ore along with existing ore at the
Cinabrio mine and the mineralization at the San Andres target. 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”
Punitaqui Copper Mine
Punitaqui is a former producing copper mine located in the Coquimbo region of Chile
with an eight -plus year operating history within which produced up to 25 million
pounds of copper in concentrate annually. Punitaqui was recently acquired by BMR
via a private placement equity financing announced on July 13, 2021. BMR began
developing the project immediately by initiating a drilling program, operating and
environmental permit modifications and engineering studies.
Dalmacia Drill Program
• Program comprises both confirmation and step-out diamond core drilling
• Currently, two diamond core drills are in operation at Dalmacia.
• Thirteen holes have been completed for 2,628 meters of diamond core drilling
and the program continues
The Dalmacia target is located in the southern portion of the Punitaqui area about 6
kilometers south of the Punitaqui processing plant (see Figure 1 and Figure 2) . The
first drilling occurred in 1993-1994 when 49 reverse circulation (“RC”) holes totaling
9,972m were completed. Exploration drilling at Dalmacia North has been completed
at a grid spacing of 25m x 25m and 15m x 15m at Dalmacia South. In total, 229 drill
holes (98 RC holes and 131 diamond core holes) have been drilled for a total of
53,294m.
The geological setting of the Dalmacia target is different from both the Cinabrio Mine
and San Andres target which are located 20 kilometers to the north. Dalmacia is
situated within a roof-pendant of volcanic rocks, with minor calcareous intercalations
of Middle to Upper Jurassic age. This volcano -sedimentary complex is intruded by
younger aged granites located in a reverse fault.
Copper-gold mineralization is related to regional structures and deformation zones,
developed mainly in the contacts between granite and volcano-sedimentary rocks.
Sample assay results , reported herein, are from the first two drill holes from the
Dalmacia target (see Table 1 and Figure 3).
Drillhole DS-21-01 was designed as an infill drill hole to test Dalmacia
mineralization in the central portion of the target just west of the portal. It was drilled
in a southeast direction, across the grain of previous drilling, and between drill holes
SD-58 (24m at 1.96% Cu ) and DS-11-02 ( 18.9 m at 1.30% Cu ). DS-21-01
resulted in five intercepts; 12m grading 1.79% Cu and 2.5g/t Ag from 79m
downhole including 8m at 2.44% Cu, 3.2g/t Ag and 0.04g/t Au from 80m, a
second interval of 23m grading 1.16% Cu and 1.7g/t Ag from 105m downhole
including 13m at 1.56% Cu and 2.1g/t Ag from 115.0m downhole including 7m
at 2.32% Cu, 3.1g/t Ag and 0.04g/t Au from 115m, a third intercept of 2m at
1.06% Cu, 0.7g/t Ag and 0.03g/t Au from 137m downhole; a fourth interval of
4m at 0.89% Cu and 0.4g/t Ag from 180m downhole as well as a fifth hit of 4.9m
at 0.72% Cu and 0.6g/t Ag from 220m downhole (See Figure 3).
Drillhole DS-21-02 was designed to test Dalmacia mineralization in the south-
central portion of the mineralized zone. The hole was drilled 40 meters west of drill
hole DS-14-07 which intersected 27 meters of 1.62% Cu from 110 meters. Drill
hole DS-21-02 resulted in five intercepts; 7m grading 1.67% Cu, 2.6g/t Ag and
0.08g/t Au from 22m downhole, 10m at 1.03% Cu and 2.1g/t Ag from 64m
downhole including 3m at 1.49% Cu and 2.3g/t Ag from 64m, 2m at 2.34% Cu
and 5g/t Ag from 71m downhole, 7m at 2.58% Cu and 2.7g/t Ag from 99m
downhole, 11m at 1.08% Cu, 0.9g/t Ag and 0.08g/t Au from 177m downhole
including 4.0m at 2.32% Cu, 1.4g/t Ag and 0.17g/t Au from 177m and including
3.0m at 2.90% Cu, 1.7g/t Ag and 0.22g/t Au from 177m (See Figure 3).
Table 1: Dalmacia Drilling Latest Significant Assays Results – November 2021
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
DS-21-01 79.0 91.0 12.0 1.79 2.5 -
including 80.0 88.0 8.0 2.44 3.2 0.04
and 105.0 128.0 23.0 1.16 1.7 -
including 115.0 128.0 13.0 1.56 2.1 0.04
including 115.0 122.0 7.0 1.67 2.6 0.08
and 137.0 139.0 2.0 1.06 0.7 0.03
and 180.0 184.0 4.0 0.89 0.4 -
and 220.0 224.9 4.9 0.72 0.03 -
DS-21-02 22.0 29.0 7.0 1.67 2.6 0.08
and 64.0 74.0 10.0 1.03 2.1 -
including 64.0 67.0 3.0 1.49 2.3 -
and 71.0 73.0 2.0 2.34 5.0 -
and 99.0 106.0 7.0 2.58 2.7 -
and 177.0 188.0 11.0 1.08 0.9 0.08
including 177.0 181.0 4.0 2.32 1.4 0.17
Including 177.0 180.0 3.0 2.90 1.7 0.22
Note: All Intercepts reported as downhole core intervals
Figure 1: Dalmacia Target Location Map
Figure 2: Dalmacia Target Geology
Figure 3: Dalmacia Target Drill Plan
Background – Dalmacia Target
The first modern drilling of the Dalmacia target occurred in 1993 -1994 when 49
reverse circulation (“RC”) holes totaling 9,972m were completed.
In 2007, Compañia Minera Punitaqui carried out ground magnetics and induced
polarization surveys followed by RC drilling program (49 ho les/11,473m). Between
2011 – 2018 a total of 131 diamond core drillholes were completed at Dalmacia for
a total of 31,849m.
The Dalmacia exploration drilling has been completed at a grid spacing of 25m x 25m
in the north and 15m x 15m in the south. In tot al, 229 drill holes (98 RC holes and
131 diamond core holes) have been drilled for a total of 53,294m with 35,201
samples analysed.
The Dalmacia target is located within a roof -pendant of volcanic rocks, with minor
calcareous intercalations of Middle to U pper Jurassic age. This volcano-sedimentary
complex is intruded by 105-130Ma granitoids located in a reverse fault.
The Dalmacia copper-gold mineralization is hosted in the Agua Salada Complex,
consisting of andesites, ocoites (porphyritc andesites) wit h white phenocrysts and
ocoites with black phenocrysts. The ocoites are conformable to stratigraphy ( “sill-
type”) and in plan show an elliptical to sub-circular morphology.
The copper-gold mineralization occurs as veins, fracture infillings and disseminated
oxides and sulphides. The known strike length of the minerali zed zone is at least
1,500m and up to 300m wide with depths greater than 500m. Additionally,
mineralization is related to regional structures and deformation zones, developed
mainly in the contacts between granitoids and volcano-sedimentary rocks.
The mineralisation at Dalmacia is hosted in andesites, and andesitic porphyry dykes
with both black and white phenocrysts. The copper-gold mineralization is structurally
controlled and occurs as veins, fracture infillings and disseminated oxides and
sulphides. The known strike length of the mineralised zone is at least 1,500m and up
to 300m wide with depths greater than 500m.
At D almacia, oxide mineralisation includes chrysocolla, atacamite, neotocite and
cuprite. Primary mineralisation consists of chalcopyrite and bornite with pyrite.
Secondary mineralisation includes chalcocite and bornite.
Locally, t he copper mineralization at Dalmacia is hosted within a stratigraphic
package that includes sedimentary rocks, andesites, and tuffs, intruded by ocoites
and late intrusive diorit e (dykes and stocks), which have generated hornfels. The
alteration related with the mineralization varies from potassium feldspar, actinolite,
secondary biotite, chlorite, green sericite to sericite-quartz/sericite.
The main copper mineralization occurs immediately after the ocoites undergo a late
phase of chalcosodic alteration (quartz-albite-actinolite-epidote, “white” ocoites) with
the destruction of magnetite and superimposed onto an earlier event of black albite,
magnetite and silicates (black ocoites).
The upper portion of the Dalmacia target is accessed via a portal and a limited
underground ramp and level development.