Bathurst Metals Corp. 2021 Macgregor Lake and Speers Lake Assay Results
January 13, 2022 PRESS RELEASE TSX-V: BMV
OTC : BMVVF
BATHURST METALS CORP. 2021 MACGREGOR LAKE AND SPEERS LAKE ASSAY RESULTS
Vancouver, British Columbia (January 13, 2022) – Bathurst Metal Corp. (TSXV: BMV,
OTC: BMVVF) (“Bathurst” or the “ Company”) is pleased to announce the company has
received final assay results from the summer 2021 field exploration work on the
Copper/Nickel/Cobalt/Palladium/Platinum McGregor Lake and Speers Lake properties
in western Nunavut. The Company’s 100% owned property consists of 12 mineral claims
covering 14,584.24 hectares. The properties are approximately 100 km south of
Kugluktuk in the Kitikmeot District of western Nunavut, Canada. These properties are
considered to host layered disseminated to semi-massive sulphide primary mineralization
and secondarily, structurally controlled, massive sulphides.
Rock sampling some of the numerous gossans along the contact of a Proterozoic,
ultramafic intrusive with Archean Age, metasediments has located high-grade copper,
nickel and Palladium mineralization. As well, high concentrations of cobalt and platinum
were also obtained. Highlights of Assay Results from the 2021 Summer Program from
each area examined are enclosed below in Table # 1. Tables of each of the areas sampled
and mapped are also posted within this release.
Table # 1 Highlights of Assay Results
Sample Area Cu % Ni %
Co
ppm
Pt
ppm
Pd
ppm
V996601 Speers Lake 1.55 0.57 589 0.53 1.1
V996619 E. Pump Lake 15.40 5.90 1550 0.69 11.8
V996621 E. Pump Lake 11.50 0.08 32.6 4.06 44.5
V996674 West Margin 5.66 0.02 24.9 0.15 4.18
V996670 Funnel 2.98 0.08 41.6 0.05 6.42
V996663
South Pyrrhotite
Lake 2.38 0.85 1440 0.01 0.68
V996653 Val 0.90 0.63 871 0.01 0.06
Hardy Forzley, Chief Executive Officer of Bathurst Metals commented: “Our geological staff
was able to confirm historical results but more importantly advance the structural setting of
the known higher-grade mineralization. These properties have geological, structural and
mineralogical similarities to and scale of the world class Norilsk-Talnakh deposits in northern
Russia.”
Purpose of 2021 Field Program
The purpose of the 2021 summer exploration program was to enable Bathurst to better
understand the project’s potential economics by undertaking structural mapping on cross
cutting Proterozoic Age structures, the company employed three senior geologists to work
on the project including Dr. Guowei Zhang, Ph.D., P.Geo. specialist in structural analysis.
The team performed geologic mapping of potential favorable host basement assemblages,
located historic drill hole collar locations and systematically sampled mineralization along
the Archean basement and ultramafic intrusive complex contact. Based on the 2021
results, the company is evaluating the use of additional geophysical techniques to further
develop the structural setting of mineralization prior to drilling.
Discussion on 2021 Program Results
Dr. Zhang was able to locate steeply dipping, generally east-west trending structures
in the areas of known higher grade copper/nickel/cobalt/platinum and palladium
mineralization. These structures are interpreted to be conduits for the remobilization of
the mineralization and subsequent entrapment along the Proterozoic, ultramafic
intrusive/Archean Age, metasedimentary contact.
Previous work and Dr. Zhang’s recent studies support the concept that the property
shares a similar scale, geology and known mineralization style to the Norilsk-Talnakh in
northern Russia, the largest-known nickel-copper-palladium deposit in the world. The two
main ore types developed at Norilsk and Talnakh are disseminated sulphides within the
differentiated gabbro-dolerite sills, principally on the lower margins of the mineralized zone
where they occur as droplets forming sheet like conformable bodies up to 40 m thick.
Grades there average 0.5 to 0.6% Ni, 0.6 to 0.7% Cu, and 5 to 6 g/t PGE. Secondly, there
are massive sulphides found principally on the lower contact of the mineralized sills, both
within the enclosing rocks and to a lesser degree within the sill and are often separated
from the sill by several metres of barren sediment or cupriferous mineralization.
Sometimes massive sulfides are also found on the upper margin of the sill. In other
locations the massive sulphides cut across the sill to its upper margins. Grades vary
drastically with the sulphide assemblage but are of the order of 2.8% Ni, 5.6% Cu and 15
g/t PGE. At Norilsk there is evidence that the massive sulphides post date the
disseminated sulphides. The total production + resource in the Noril'sk-Talnakh district are
quoted by Naldrett (2004) at: 1.309 Gt @ 1.77% Ni, 3.57% Cu, 0.061% Co, 9.5 g/t PGE
(including 1.84 g/t Pt, 7.31 g/t Pd).
The Company’s 2021 assay results confirmed historic results and a significant number
of historic drill collars were located and surveyed.
The enclosed Figure # 1 diagram outlines the areas rock sampled and structurally
mapped during the 2021 field season. These areas were selected based on historical
assay results and the outcrop exposures enabling the structural studies.
Figure # 1 – Location Map of Areas Sampled
Discussion on Areas Sampled
Speers Lake Area
Sampling was restricted to outcrops along the ultramafic intrusive/meta-sediment contact
as most of the intrusive does not outcrop. Sampling consisted of grab samples where
mineralization was observed. Not previously recorded are the high concentrations of cobalt
associated with the copper and nickel mineralization. Table # 2 lists the grab sample results
from the 2021 program.
Table # 2 Speers Lake – 2021 Rock Sample Results
Sample UTM E UTM N Cu % Ni % Co ppm Pt ppm Pd ppm
V996601 579668 7428454 1.55 0.57 589 0.53 1.1
V996602 579666 7428462 0.95 0.38 277 0.11 1.04
V996603 579739 7428126 0.94 0.34 1100 0.01 0.11
V996604 579678 7428405 0.59 0.30 591 0.04 0.15
V996605 579747 7428245 0.07 0.04 71.3 0.01 0.06
V996606 579738 7428659 0.90 0.62 1020 0.01 0.61
V996607 579738 7428784 0.91 0.36 398 0.04 0.33
V996608 579737 7428810 0.30 0.09 125 0.03 0.13
V996609 579746 7428999 0.66 0.32 718 <0.01 0.14
V996610 579747 7429015 0.29 0.11 251 0.01 0.06
V996611 579758 7430134 0.09 0.14 111.5 0.02 0.07
V996612 579749 7430144 1.08 0.89 1665 <0.01 0.31
V996613 579734 7430126 0.17 0.17 148.5 0.04 0.13
Listed below are some of the more significant precious and base metal assay results from
historical geochemical rock sampling and diamond drilling.
Historical Rock Geochemistry – Grab Samples
Historical Diamond Drilling – Diamond Drill Hole 87-S10 Assay Results
FROM TO THICKNESS Pt Pd Au Cu Ni
(m) (m) (m) (g/tonne) (g/tonne) (g/tonne) (%) (%)
94.40 95.10 0.70 1.94 38.45 6.03 1.18 3.89
107.23 107.63 0.40 5.57 52.71 1.41 0.22 3.79
*Thickness is core length; true width is unknown.
Pt Pd Au Cu Ni
(g/tonne) (g/tonne) (g/tonne) (%) (%)
0.87 5.48 5.0 3.50 0.18
2.55 3.43 2.0 0.45 0.24
Figure # 2 provides the historic surface sample locations and results and shows the
company’s current mineral claims.
Figure # 2 Historic Pt+Pd+Au Rock Sample Results on McGregor Lake Property
*Thickness is core or chip sample length; true width is unknown.
Tables 3 to 8 below outline all the samples collected in 2021 from the East Pump Lake,
West Margin, Funnel, South Pyrrhotite Lake, East Pyrrhotite Lake and Vale Areas
respectively. These areas are outlined in Figure #1. Assay results from these tables
indicate a positive correlation between Nickel and Cobalt and Palladium with Copper.
Table # 3 - East Pump Lake
Sample UTM E UTM N Cu % Ni % Co ppm Pt ppm Pd ppm
V996614 579531 7416049 0.32 0.21 117 0.01 0.2
V996615 579542 7416011 3.23 0.41 317 0.07 2.09
V996616 579540 7416012 1.78 0.20 157 0.07 0.63
V996617 579551 7415964 1.19 0.05 31.7 0.19 1.84
V996618 579553 7415966 0.19 0.01 4.1 <0.01 0.02
V996619 579551 7415965 15.40 5.90 1550 0.69 11.8
V996620 579557 7415910 0.15 0.09 156 <0.01 0.11
V996621 579486 7415682 1.66 1.19 1270 0.01 0.19
V996622 579531 7415631 0.32 0.03 21.6 0.03 0.76
V996623 579541 7415616 0.12 0.02 24.2 0.01 0.2
V996624 579531 7415582 0.40 0.27 227 0.06 0.68
V996625 579532 7415577 0.81 0.34 349 0.02 0.67
V996626 579544 741523 6.15 0.04 45.3 0.05 0.73
V996627 579561 7415474 0.46 0.05 1090 0.09 0.17
V996628 579524 7415516 0.61 0.99 636 0.07 0.57
V996629 579598 7415065 11.50 0.08 32.6 4.06 44.5
V996630 579596 7415046 0.52 0.27 280 0.04 0.42
V996631 579602 7415064 8.72 0.12 31.5 1.78 14.2
V996632 579599 7415060 1.09 0.79 1265 0.01 0.29
V996633 579574 7415251 9.98 0.31 205 0.13 0.29
V996634 579599 7415397 0.34 0.15 246 0.02 0.27
V996635 579629 7427824 1.22 0.62 791 0.14 1.02
V996636 579627 7427854 0.32 0.18 227 0.06 0.35
V996637 579634 7427901 0.39 0.12 317 0.03 0.08
Table # 4 - West Margin
Sample UTM E UTM N Cu % Ni %
Co
ppm Pt ppm Pd ppm
V996671 578419 7408894 0.28 0.17 182 <0.01 0.16
V996672 578432 7408860 2.90 1.17 1095 <0.01 1.29
V996673 578430 7408823 1.39 0.51 460 0.37 1.73
V996674 578449 7408781 5.66 0.02 24.9 0.15 4.18
V996675 578462 7408736 0.79 0.81 828 0.05 0.33
V996676 578463 7408702 1.58 0.78 773 0.14 1.49
V996677 578523 7408483 1.17 0.05 36.8 0.02 1.24
V996678 578523 7408483 1.40 0.05 79 0.02 0.37
V996679 578529 7408464 0.16 0.11 240 0.02 0.18
V996680 578534 7408445 0.33 0.37 853 0.02 0.09
V996681 578567 7408407 1.64 0.88 1250 <0.01 0.48
V996682 578558 7408577 0.66 0.43 675 0.04 0.29
V996683 578547 7408288 0.94 0.31 344 <0.01 0.28
V996684 578643 7408072 1.63 0.82 805 <0.01 0.79
V996685 578738 7407643 0.60 0.02 21.5 <0.01 0.42
V996686 578638 7407922 0.65 0.51 657 0.03 0.26
Table # 5 Funnel Area
Sample UTM E UTM N Cu % Ni % Co ppm Pt ppm Pd ppm
V996667 579844 7403324 0.75 0.44 496 0.01 0.16
V996668 579869 7403160 0.39 0.19 160 0.01 0.11
V996669 579869 7403157 0.40 0.16 124 0.01 0.16
V996670 579206 7403507 2.98 0.08 41.6 0.05 6.42
V996687 580395 7402059 0.48 0.23 293 0.02 0.25
V996688 580415 7402013 2.26 0.30 371 0.08 1.34
V996689 580492 7401836 0.19 0.09 159.5 0.01 0.14
V996690 580523 7401730 1.71 0.85 350 0.04 1.23
V996691 580563 7401562 0.26 0.04 35.6 0.04 0.34
V996692 580568 7401559 0.31 0.13 327 0.01 0.09
V996693 581514 7401871 0.28 0.11 106 0.02 0.28
V996694 581516 7401950 0.18 0.12 198.5 <0.01 0.1
V996695 581503 7401994 0.61 0.19 89.2 0.08 0.79
V996696 581517 7402045 1.32 0.37 193 0.11 0.64
V996697 581504 7402070 1.13 0.32 207 0.12 0.87
V996698 581498 7402217 0.31 0.07 48.1 0.04 0.31
V996699 581486 7402257 0.26 0.12 149.5 0.01 0.17
Table # 6 - South Pyrrhotite Lake
SAMPLE UTM E UTM N Cu % Ni % Co ppm Pt ppm Pd ppm
V996656 580775 7406662 0.74 0.42 604 <0.01 0.15
V996657 580753 7406811 1.24 0.53 1050 0.01 0.2
V996658 580754 7406884 0.44 0.10 82 0.04 0.41
V996659 580795 7407094 0.64 0.45 664 0.04 0.33
V996660 580784 7407250 0.54 0.21 512 0.01 0.07
V996661 580781 7407318 0.34 0.11 285 <0.01 0.04
V996662 580786 7407393 0.23 0.10 192 0.01 0.06
V996663 580785 7407422 2.38 0.85 1440 0.01 0.68
V996664 580795 7407514 1.02 0.53 748 0.13 1.64
V996665 580783 7407530 0.61 0.44 590 0.02 0.29
V996666 580758 7407715 0.77 0.45 614 0.01 0.24
Table # 7 - East Pyrrhotite Lake
Sample UTM E UTM N Cu % Ni % Co ppm Pt ppm Pd ppm
V996639 580642 7410489 1.85 1.72 2220 0.07 0.59
V996640 580725 7410219 1.13 0.03 27.5 0.17 1.22
V996641 580752 7410160 3.01 0.03 27 0.08 0.4
V996642 580756 7410137 0.09 0.05 75.9 <0.01 0.06
V996643 580755 7410120 0.45 0.14 90 0.05 0.49
V996644 580764 7410106 0.32 0.44 53.2 0.03 0.28
V996645 580786 7410020 0.39 0.48 39.7 0.02 0.14
Table # 8 - Val Area
Sample UTM E UTM N Cu % Ni % Co ppm Pt ppm Pd ppm
V996646 580967 7405311 0.62 0.41 666 0.02 0.14
V996647 580966 7405299 0.54 0.32 392 0.02 0.21
V996648 580978 7405216 0.36 0.12 113.5 0.02 0.22
V996649 581018 7405172 1.09 0.16 147 0.15 1.22
V996650 580996 740933 0.11 0.03 133 0.01 0.03
V996651 581216 7404177 0.65 0.35 643 <0.01 0.08
V996652 581217 7404163 0.27 0.09 187.5 <0.01 0.05
V996653 581232 7404040 0.90 0.63 871 0.01 0.06
V996654 581237 7403967 0.71 0.60 1195 0.02 0.29
V996655 581254 7403801 1.33 0.32 308 0.11 0.6