Drilling Update Continues to Deliver Positive Copper Intercepts at Battery Mineral Resources Punitaqui MINE
DRILLING UPDATE CONTINUES TO DELIVER POSITIVE COPPER
INTERCEPTS AT BATTERY MINERAL RESOURCES PUNITAQUI MINE
Vancouver, British Columbia – (December 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 on-going 2021
exploration and in-fill drill program at the Cinabrio, Dalmacia and San Andres targets
within 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 San Andres target is located 500
meters west of the Cinabrio mine while the Cinabrio Norte and Cinabrio Sur targets
represent potential extensions of the Cinabrio orebody to the north and south. (see
Figure 1 and Figure 2).
Highlights
At Dalmacia, a total of 5,346 meters in 27 holes completed and drilling continues.
New assay results include the following drillholes:
o DS-21-04: 6 meters (“m”) grading 0.71% Copper (“Cu ”) including 4.0m at
0.87% Cu, and 13m at 0.64% Cu including 2m at 1.24% Cu;
o DS-21-05: 6m at 1.16% Cu;
o DS-21-07: 33m at 1.77% Cu, including intervals of 9.0m at 3.44% Cu, and
7.0m at 2.54% Cu, and 10m at 0.84% Cu, and 6m at 2.19% Cu.
▪ At San Andres, the Phase 1 program resulted in the completion of 8,156m of
drilling in 38 holes. All samples have been dispatched for analysis with assay
results pending for the final six holes. An update of the 3D geological model is
being completed which will be followed by a resource estimate by JDS Energy and
Mining. New assay results include the following drillholes:
o SAS-21-27: 11m at 2.16% Cu;
o SAS-21-29: 16m at 1.49% Cu;
o SAS-21-30: 5m at 1.39% Cu including 3.0m at 1.89% Cu.
▪ At Cinabrio Norte, nine holes have been completed for 1,443m and d rilling is
ongoing. This initial program is planned as 18 holes totaling 3,000m which will
test 400m of strike length to a depth of 200m. Visual copper mineralization has
been recorded in six of the first nine holes. Nine holes have been sampled and
dispatched for analysis and results are awaited.
▪ At Cinabrio Sur, 860m in eight holes have been completed. This drilling targeted
the immediate southern extensions of the Cinabrio mine orebody just beyond the
workings on the 440m level and progressively moved to the south. An additional
200m in four holes of drilling is planned as a follow -up program. Initial assay
results include the following drillholes:
o CNV-21-02: 14.3m at 0.98% Cu including 10m at 1.17% Cu;
o CNV-21-03: 2.0m at 0.65% Cu;
o CNV-21-07: 6m at 1.73% Cu.
▪ The main Cinabrio mine orebody, which historically was a source of ore feed to
the Punitaqui ore concentration plant for eight-plus years, is currently being re-
assessed with an update of the geological model to be followed by an update of
the resource potential.
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 addition, as the drilling program progresses across the various mineralized zones,
we are excited about these latest assay results for Dalmacia and San Andres as well
as the providing an update on the drilling at Cinabrio Norte and Cinabrio Sur.
This program has the potential to provide the Company with multiple sources of
copper mineralization as ore feed for the Punitaqui processing plant. 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
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). 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 15m x 15m at Dalmacia South. Prior to the 2021
program, 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
orebody 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
The upper portion of the Dalmacia target is accessed via a portal and a limited
underground ramp and level development.
The current Phase 1 drill program is designed to infill and confirm the continu ity 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-silver mineralization as
defined by historic drilling.
To date, a total of 5,346 meters in 27 holes com pleted with an additional 500 m of
infill and step out drilling is planned to complete the Phase 1 program (see Figure 3).
Complete assay results were recently received for holes DS -21-04, DS-21-05 and
DS-21-07.
Drillhole DS-21-04 was designed as an infill hole to test the up-dip and northern
extent of the mineralization intersected in historic hole DAL -18. The new hole
intersected two significant mineralized zones that included 6.0m at 0.71% Cu,
0.9g/t Ag and 0.012g/t Au from 70m downhole and 13m at 0.64% Cu and 0.9g/t
Ag from 89m.
Drillhole DS -21-05 was planned as a step -out hole to test the northeastern
continuation of the mineralized zone as delineated by multiple significant copper
intersections immediately to the southwest. This hole intersected 3 narrow intervals
of copper mineralization in ocoi tas including 6m at 1.16% Cu, 1.7g/t Ag and
0.017g/t Au from 52m downhole, 1m at 1.81% Cu, 0.4g/t Ag and 0.695g/t Au
from 131m and 1m at 3.22% Cu and 2.0g/t Ag from 155m as well as a quartz-
pyrite vein sub-parallel to the core which returned 2m of 2.98% Cu and 3.8g/t Au
from 141m.
Drillhole DS-21-07 was drilled to follow -up near surface copper mineralization
intersected in historic hole DS -1113 ( 22.9m at 1.14% Cu ). This infill drillhole
intersected 33m at 1.77% Cu, 1.5g/t Ag and 0.052g/t Au from 24m including
two higher-grade intervals: 9.0m at 3.44% Cu, 1.6g/t Ag and 0.167g/t Au from
24m and 7.0m at 2.54% Cu, 3.5g/t Ag and 0.020g/t Au from 39m. This upper
mineralized intercept was dominantly copper oxides. Deeper sulphide intersections
included 10m at 0.84% Cu, 1.2g/t Ag and 0.032g/t Au from 84m and 6m at
2.19% Cu, and 0.4g/t Ag from 176m. Additional assays are pending.
The infill drilling results to date have defined several st eep dipping shoots of high -
grade mineralization. Step -out drilling has identified high -grade mineralization
beyond the northern edge of the main drilling grid.
Significant 2021 assay results received to date for the Dalmacia 2021 drilling program
include the following drillholes (see Table 1):
• DS-21-01 (Infill): 23m at 1.16% Cu, including 13m at 1.56% Cu;
• DS-21-02 (Infill): 11m at 1.08% Cu, including 4m at 2.32% Cu;
• DS-21-03 (Infill): 15m at 1.01% Cu, including 4m at 2.47% Cu;
• DS-21-04 (Infill): 13m at 0.64% Cu including 2m at 1.24% Cu;
• DS-21-05 (Step-out): 6m at 1.16% Cu;
• DS-21-O6 (Step-out): 32m grading 0.73% Cu including 16m at 1.15% Cu
and 95m at 0.78% Cu including 29m at 1.45% Cu, including a higher-grade
interval of 14m at 2.44% Cu;
• DS-21-07 (Infill): 33m at 1.77% Cu, including intervals of 9.0m at 3.44%
Cu, and 7.0m at 2.54% Cu, and 10m at 0.84% Cu, and 6m at 2.19% Cu.
Table 1: 2021 BMR Drilling Dalmacia Target Significant Drill Assay Intervals
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
DS-21-01 79 91 12 1.79 2.5 0.028
including 80 88 8 2.44 3.2 0.035
and 105 128 23 1.16 1.7 0.016
including 115 128 13 1.56 2.1 0.024
including 115 122 7 2.32 3.1 0.036
and 137 139 2 1.06 0.7 0.030
and 180 184 4 0.89 0.4 -
and 220 224.9 4.9 0.72 0.6 -
DS-21-02 22 29 7 1.67 2.6 0.08
and 64 74 10 1.03 2.1 -
including 64 67 3 1.49 2.3 -
and 71 73 2 2.34 5.0 -
and 99 106 7 2.58 2.7 -
and 177 188 11 1.08 0.9 0.08
including 177 181 4 2.32 1.4 0.17
including 177 180 3 2.90 1.7 0.22
DS-21-03 46 61 15 1.01 1.2 0.017
including 46 50 4 2.47 3.1 0.05
DS-21-04 70 76 6 0.71 0.9 0.012
Including 72 76 4 0.87 1.0 0.010
and 89 102 13 0.64 0.9 -
including 93 95 2 1.24 1.5 -
DS-21-05 52 58 6 1.16 1.7 0.017
131 132 1 1.81 0.4 0.695
141 143 2 2.98 5.0 3.835
155 156 1 3.22 2.0 -
DS-21-06 37 69 32 0.73 0.5 -
including 37 53 16 1.15 0.6 0.060
including 37 44 7 1.75 0.8 0.079
and 112 115 3 2.14 0.6 0.030
and 134 139 5 1.58 0.4 0.019
and 167 262 95 0.78 0.5 -
including 167 170 3 1.84 0.8 0.096
Note: All intervals are downhole core lengths
San Andres Drill Program
San Andres is a zone of copper mineralization located 500m southwest of the high -
grade Cinabrio deposit mined by Glencore and Xiana Mining (see Figure 1).
The San Andres target is a tabular sedimentary horizon within a volcanic sequence.
This sedimentary horizon (“TSU”) is variably mineralized and has a variable width
ranging from 5m - 30m. It consists of an interlayered volcano-sedimentary sequence
composed of dark colored laminated and unlaminated shales, volcanoclastic
sandstone, conglomerates and breccias and tuff breccias. There is a variable
component of syngenetic pyrite. The horizon dips 40 to 50 degrees to the east and
is cut-off at depth by the moderately west dipping San Andres fault (see Figure 3).
Mineralization consists of veinlets and irregular disseminations in both the fine and
coarse-grained clastic rocks and locally within the volcanic rocks above and below
the host unit. The TSU is also cut and offset by other faults with a wide range of
orientations. The fundamental orientations identified to date include:
• moderately west dipping splays of the San Andres fault , generally with
downward and westward movement
• steep dipping northeast to northwest trending faults with both sinistral and
dextral offsets
• Faults parallel and sub-parallel to stratigraphy
At San Andres, the phase 1 drilling has been completed resulting in 8,156m of drilling
in 38 holes. All samples have been dispatched for analysis with assay results pending
for the final 6 holes. The phase 1 program targeted a 600m north -south trending
zone and this drilling has delineated a 400m long zone of significant copper
mineralization above the San Andres Fault. The TSU favorable stratigraphic package
that hosts the San Andres mineralization continues along strike to the north and
south.
Work is currently focused on updating of the 3D geological model which will be
followed by a resource modelling and estimation by JDS Energy and Mining Inc.
New assays for 3 holes (SAS-21-27, 29 & 30) have been received. SAS-21-27 & 29
were vertical step-out holes drilled in the south-central part of the San Andres Target
(see Figure 4).
and 183 187 4 1.75 0.6 0.071
and 19 262 65 0.93 0.5 -
including 197 211 14 2.44 0.7 0.039
and 243 262 19 1.10 0.6 0.022
including 243 251 8 1.88 0.7 0.029
and 260 262 2 1.79 0.7 0.060
DS-21-07 24 57 33 1.77 1.5 0.052
including 24 33 9 3.44 1.6 0.167
and 39 46 7 2.54 3.5 0.020
and 84 94 10 0.84 1.2 0.032
and 176 182 6 2.19 0.4 -
Drillhole SAS-21-27 was designed as a 60m down -dip test of sulphide
mineralization intersected in SAS-21-12 (18m at 1.18% Cu). The new hole SAS-21-
27 cut a downhole interval of 11m at 2.16% Cu, 14.9g/t Ag and 0.01g/t Au from
213m.
Drillhole SAS-21-29 targeted as a 60m down-dip step-out of the mineralization
intersected in hole SAS-21-14 (12.8m at 1.44% Cu). The new hole SASA-21-29 cut
a downhole interval of 16m at 1.49% Cu, 5.7g/t Ag and 0.008g/t Au from 218m.
Drillhole SAS-21-30 was drilled on the north end of San Andres Zones as a 50m
up-dip step-out test of mineralized intercept in SAS -21-19 (4m at 1.24% Cu) and
yielded a downhole intercept of 5m at 1.39% Cu, 5.2g/t Ag and 0.006g/t Au from
50m including: 3.0m at 1.89% Cu, 7.7g/t Ag and 0.009g/t Au from 52m
In addition, significant 2021 assay results received to date for the Phase 1 San Andres
Drilling are included in Table 2.
Table 2: San Andres Target 2021 Drilling Significant Drill Assay Intervals
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
SAS-21-01 180.2 183.2 3.0 1.52 2.00 0.007
SAS-21-02 185 188 3 0.04 - -
SAS-21-03
including
195 209 14 1.18 3.30 0.047
201 209 8 1.62 4.60 0.064
SAS-21-04
including
and
including
185.0 201.7 16.7 1.37 3.50 0.106
190.0 201.7 11.7 1.64 4.60 0.148
220.7 232.0 11.3 1.48 6.20 0.005
223 232 9 1.76 7.50 0.005
SAS-21-05
including
202 229 27 0.89 10.50 0.001
220 229 9 2.06 20.50 0.001
SAS-21-07
including
and
241.0 263.7 22.3 0.71 1.30 0.008
244.7 249.0 4.4 1.93 3.40 0.003
257 261 4 1.57 2.10 0.014
SAS-21-08
including
and
221.75 236.55 14.80 0.95 1.90 0.012
221.75 227.00 5.25 1.39 2.50 0.024
232.9 236.7 3.8 1.84 3.90 0.002
SAS -21-11 53 55 2 0.91 11.10 0.001
SAS-21-12 162 164 2 1.04 5.00 0.004
including 176 194 18 1.18 2.50 0.001
including 176 183 7 1.81 2.60 0.001
SAS-21-13 199 202 3 0.87 19.90 0.001
including 211.0 212.8 1.8 0.83 16.70 0.001
including 217 221 4 1.59 19.20 0.001
SAS-21-14 203.2 239.0 35.8 0.98 3.30 0.007
including 203.2 216.0 12.8 1.44 5.00 0.002
including 207 216 9 1.83 5.90 -
including 227 239 12 1.25 3.6 0.018
SAS-21-15 116 119 3 0.50 8.30 -
and 133 136 3 0.48 6.00 -
and 139 141 3 0.51 0.40 -
SAS-21-17 241.4 245.0 3.6 1.04 1.00 -
SAS-21-19 74 78 4 1.24 2.20 0.001
SAS-21-20 266.9 269.3 2.4 0.70 0.10 -
SAS-21-21 106 131 25 0.88 14.90 0.001
including 106 119 13 0.96 21.80 -
including 115 119 4 1.19 20.10 0.001
and 136 138 2 1.12 18.20 -
SAS-21-23 194.0 196.8 2.8 1.00 8.70 0.032
including 196.0 196.8 0.8 2.12 8.00 0.037
SAS-21-24 231 234 3 0.82 1.70 -
SAS-21-27 213 224 11 2.16 14.9 0.008
SAS-21-29 218 234 16 1.49 5.70 0.004
SAS-21-30 50 55 5 1.39 5.20 0.006
including 52 55 3 1.89 7.70 0.009
Note: All intervals are downhole core lengths
Cinabrio Norte Drill Program
At Cinabrio Norte, a phase 1 drill test will follow -up on a limited number of historic
drillholes that targeted the northern extension of the Cinabrio orebody.
The historic exploration drilling confirmed that t he favorable targeted stratigraphic
unit (“TSU”) that hosts the copper mineralization within the Cinabrio orebody extends
to the north. The TSU has been mapped along a north -south strike from the mine.
The Cinabrio Norte target is only 110m north of the Cinabrio underground workings
level 200m (see Figure 5, Figure 6 and Table 3). Historic hole CNS-20-01 drilled by
Xiana Mining was drilled completely within the TSU resulting in multiple mineralized
intercepts and, most importantly, confirmed the presence of TSU for over 200m of
strike length with significant copper sulphide mineralization.
Table 3: Cinabrio Norte Historic Exploration Drill Intercepts
Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
CNB-01 29 31 2 0.43 - 0.015
and 39 43 4 0.48 - 0.013
CNN-R-08-09 136 141 5 1.49 3.85 -
CNO-08-03 280 285 5 0.33 - -
CNO-08-09 289 291 2 1.05 - -
CNO-08-10 238 240 2 0.43 5.0 -
CNO-08-12 209 215 6 1.14 - -
CNS-20-01 205 253 48 0.64 - -
and 271 274 3 0.47 - -
and 287 293 6 0.45 - -
CNS-20-02 82 85 3 0.91 - -
CNS-20-03 95.2 96.2 1.0 0.34 - -
CNS-20-04 94 108 14 0.75 - -
CS-0-15-06 93.23 94.23 1.00 2.74 16.4 0.010
PZ-01 20 29 9 0.87 3.0 0.020
and 32 34 2 0.60 - -
and 37 43 6 0.58 1.0 0.020
Note: All intervals are downhole lengths
This initial program is planned as 18 holes totaling 3,000m which will test 400m of
strike length to a depth of 200m. Drilling commenced mid-November with one drill
and in early December a second drill was added. To date, nine holes have been
completed for 1,443m and drilling is ongoing.
Six of the nine holes intersected sections of strongly mineralized sedimentary rocks
with sulphide copper mineralization observed. Assays are pending.
Drillhole CNN-21-02 intersected 22 meters of the target sedimentary horizon
composed of interlayered pyritic shales and tuffaceous sandstones. Weak to
moderate chalcopyrite mineralization occurs in the upper part of this sedimentary
horizon. Bornite-chalcopyrite mineralization was noted in a five-meter wide shaley
unit at the base of the sedimentary unit. Drillholes CNN-21-01 and CNN-21-04 also
intersected bornite-rich intervals. Drill hole CNN-21-05 intersected pyritic shales
with weak copper mineralization.
Cinabrio Sur Drill Program
At Cinabrio Sur, a limited Phase 1 drill program was recently completed to test the
Cinabrio mine mineralization to the south.
The target at Cinabrio Sur is the southern extension of TSU hosting the Cinabrio
orebody. The lack of surface exposures of the TSU is interpreted to be explained by
the moderately west dipping San Andres fault cutting the upward projection of this
unit before it reached surface. This interpretation infers that the TSU is present at
depth but is not exposed at surface south of the Cinabrio mine deposit (see Table 4,
Figure 7 and Figure 8).
This drilling targeted the immediate southern extensions of the Cinabrio orebody just
beyond the workings on the 440m level in an earlier where a series of historic reverse
circulation holes had confirmed the presence of the TSU and copper mineralization.
In addition, four wide-spaced step-out holes to the south. A total of 860m in eight
diamond core holes have been completed with assay results for three drill holes
received and are shown in Table 4. An additional four short infill holes are planned