Dalmacia Drilling Delivers Step-Out Hole of 14 Meters at 2.44% Copper at Battery Mineral Resources Punitaqui MINE
DALMACIA DRILLING DELIVERS STEP-OUT HOLE OF 14 METERS AT 2.44%
COPPER AT BATTERY MINERAL RESOURCES PUNITAQUI MINE
Vancouver, British Columbia – (December 7, 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 on-going 2021 exploration
and in-fill Dalmacia drill program at the Punitaqui mine complex (“Punitaqui”) in Chile.
Punitaqui is slated for resumption of copper concentrate production in mid to late-
2022. Dalmacia is located in the southern portion of the Punitaqui area about 6
kilometers south of the Punitaqui copper processing plant. The Dalmacia target is the
second of several historic zones drilled by BMR with partially delineated mineralized
zones and established underground access.
Highlights
• Complete final assay results from two Dalmacia drillholes (DS-21-03 and DS-
21-06 see Table 1) have been returned with encouraging results as follows:
Drillhole DS-21-O3 (Infill):
o 15 meters (“m”) grading 1.01% copper (“Cu”), 1.2g/t silver
(“Ag”) and 0.02g/t gold (“Au”) including 4m at 2.47% Cu,
3.1g/t Ag and 0.05g/t Au.
Drillhole DS-21-O6 (Step-out):
o 32m grading 0.73% Cu and 0.5g/t Ag including 16m at 1.15%
Cu, 0.6g/t Ag and 0.06g/t Au and also including 7m at 1.75% Cu,
0.8g/t Ag and 0.08g/t Au from 37m.
o 3m at 2.14% Cu, 0.60g/t Ag and 0.03g/t Au from 112m.
o 5m at 1.58% Cu, 0.4g/t Ag and 0.02g/t Au from 134m.
o 95m at 0.78% Cu and 0.5g/t Ag from 167m including
▪ 3m at 1.84% Cu, 0.8g/t Ag and 0.10g/t Au from 167m
▪ 4m at 1.75% Cu,0.6g/t Ag and 0.07g/t Au from 183m
▪ 65m at 0.93%Cu and 0.5g/t Ag including 14m at 2.44%
Cu, 0.7g/t Ag and 0.04g/t Au from 197m
▪ 19m at 1.10% Cu, 0.6g/t Ag and 0.02g/t Au from 243m
including 8m at 1.88% Cu, 0.7g/t Ag and 0.03g/t Au from
243m and 2m at 1.79% Cu, 0.7g/t Ag and 0.06g/t Au from
260m.
• 19 holes completed at Dalmacia have reached target depth and 18 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 the Dalmacia 2021 drilling program include (see Table 2):
o Drillhole DS-21-O1:
▪ 12m grading 1.79% Cu and 2.5g/t Ag including 8m at
2.44% Cu, 3.2g/t Ag and 0.04g/t Au
▪ 23m at 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
▪ 2m at 1.06% Cu, 0.7g/t Ag and 0.03g/t Au
▪ 4m at 0.89% Cu and 0.4g/t Ag
▪ 4.9m at 0.72% Cu and 0.6g/t Ag
o Drillhole DS-21-02:
▪ 7m grading 1.67% Cu, 2.6g/t Ag and 0.08g/t Au
▪ 10m at 1.03% Cu and 2.1g/t Ag including 3m at 1.49% Cu
and 2.3g/t Ag
▪ 2m at 2.34% Cu and 5g/t Ag
▪ 7m at 2.58% Cu and 2.7g/t Ag
▪ 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.
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 progresses across the various
mineralized zones, we are excited to report the first of many results for Dalmacia.
These new step-out drilling results demonstrate that previously defined mineralized
zone remains open to the north and the 2021 infill drilling has confirmed the presence
of a number of high-grade shoots.
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.
• Nineteen holes have been completed for 3,892 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. Historic exploration drilling at Dalmacia North has been
completed at a grid spacing of 25m x 25m and at a spacing 15m x 15m in the 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.
The current drill program is designed to infill and confirm the continuity of
mineralization between previous drilling and includes a series of step -out holes to
test the potential adjacent to the main zone of copper-gold mineralization as defined
by historic drilling. The infill drilling results to date have defined several steep dipping
shoots of high -grade mineralization. Step-out drilling has identified high-grade
mineralization beyond the northern edge of the main drilling grid.
Drillhole DS -21-03 was designed as an infill drill hole to test Dalmaci a
mineralization in the south-central portion of the target 100m northeast of the mine
portal. It was drilled in a northeast direction between drill holes DS -14-09 (9m at
1.62% Cu ) and DAL -09 ( 7.0m at 1.66% Cu ). DS -21-03 resulted in one
intercept; 15m grading 1.01% Cu and 1.2g/t Ag from 46m downhole
including 4m at 2.47% Cu, 3.1g/t Ag and 0.05g/t Au from 46m.
Drillhole DS -21-06 was designed to test Dalmacia mineralization beyond the
northern edge of the known mineralized zone. The hole was drilled north of drill hole
DAL-38 which intersected 16 meters of 1.24% Cu from 59 meters and DS -11-04
which intersected 12 meters of 1.94% Cu from 22 meters and 11.4 meters of
1.01% Cu from 205 meters. Drillhole DS-21-06 resulted in numerous intercepts of
mineralization between 37 and 262 meters downhole. These include 16m grading
1.15% Cu, 0.6g/t Ag and 0.06g/t Au from 37m downhole, 95m at 0.78%
Cu from 167m downhole including 14m at 2.44% Cu and 0.7g/t Ag from 197m
and 19m at 1.10% Cu and 0.6g/t Ag from 243m downhole.
The results from DS -21-06 indicate that high -grade mineralization at Dalmacia is
open to the north. Follow-up drilling is underway to further define the mineralization
discovered in DS-21-06. Sample assay results, reported herein, are from DS-21-03
& DS-21-06 from the Dalmacia target (see Table 1 and Figure 2).
Table 1: Dalmacia Drilling New December Significant Assay Results
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver Ag
(g/t)
Gold
Au (g/t)
DS-21-03 46.0 61.0 15.0 1.01 1.2 0.017
including 46.0 50.0 4.0 2.47 3.1 0.05
DS-21-06 37.0 69.0 32.0 0.73 0.5 -
including 37.0 53.0 16.0 1.15 0.6 0.06
including 37.0 44.0 7.0 1.75 0.8 0.079
and 112.0 115.0 3.0 2.14 0.6 0.03
and 134.0 139.0 5.0 1.58 0.4 0.019
and 167.0 262.0 95.0 0.78 0.5 -
including 167.0 170.0 3.0 1.84 0.8 0.096
and 183.0 187.0 4.0 1.75 0.6 0.071
and 197.0 262.0 65.0 0.93 0.5 -
including 197.0 211.0 14.0 2.44 0.7 0.039
and 243.0 262.0 19.0 1.10 0.6 0.022
including 243.0 251.0 8.0 1.88 0.7 0.029
and 260.0 262.0 2.0 1.79 0.7 0.06
Table 2: Dalmacia 2021 Drilling 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 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 holes/11,473m). Between
2011 – 2018 a total of 131 diamond core drillholes were completed at Dalm acia 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 at 15m x 15m in the south. In total, 229 drill holes (98 RC holes and
131 diamond core holes) have been drilled for a total o f 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 Upper Jurassic age. This volcano -sedimentary
complex is intruded by 105-130Ma granitoids located in a reverse fault.
The Dalmacia copper-gold minerali zation is hosted in the Agua Salada Complex,
consisting of andesites, ocoites (porphyritc andesites) with 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 Dalmacia, 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.