Bathurst Metals Corp. Gela Lake Summer 2023 Program Returned 12.1% Copper and 134.0 G/Tonne Silver.
October 30, 2023 PRESS RELEASE TSX-V: BMV OTC: BMVVF
BATHURST METALS CORP. GELA LAKE SUMMER 2023
PROGRAM RETURNED 12.1% COPPER AND 134.0
G/TONNE SILVER.
Vancouver, British Columbia (October 30, 2023) – 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 2023 field exploration work on the copper/silver/gold/cobalt
100% owned, Gela Lake property in central Nunavut. The work focused on geological mapping
and rock and soil sampling along the Bathurst Fault to test for the extension of mineralization
underneath cover to the west of a large Monzogabbro intrusive where the monzogabbro contacts
Archean metasediments and volcanics. The Gela Lake property is located in a well-established
mining area with significant producers and lies in proximity to our drill ready Turner Lake
property.
Greg Bronson, P.Geo, VP Exploration and director of Bathurst Metals commented “Our sampling
and mapping work focused on ground over the regional Bathurst fault that passes through
Archean metasediments and volcanics and on the Gela Lake property, is adjacent to a large
monzogabbro intrusion. This summer’s sampling work continued to find high copper and gold
values coincident with high bismuth values suggesting the presence of a strongly mineralized
hydrothermal system, likely related to the monzogabbro intrusive. Additionally, the occurrence
of gold and copper with bismuth implies that structural traps for mineralization are likely
associated with the Bathurst Fault. Our work continues to improve our understanding of the
property geology and build on the exploration model for this very prospective property”.
Highlights:
10 rock grab samples were collected mainly from quartz+/- carbonate, bearing, sub-
vertical structures with widths in excess of 4 metres in some areas and trending over 300
metres.
Visible copper mineralization in the form of chalcopyrite and minor bornite was noted
in most samples with rare cobalt blooms.
Significant gold concentrations were also obtained in some samples with a moderate
correlation to silver.
High bismuth concentrations also show a positive correlation with copper and silver.
Table #1 provides highlights of the assay results for silver, gold, bismuth cobalt, and copper.
Table 1. 2023 Gela Rock Samples
Sample Ag ppm Au ppm Bi ppm Co ppm Cu %
H619351 1.36 2.05 597 32.8 4.5
H619352 1.09 0.3 206 10 2.1
H619353 1.58 0.11 28 25.6 1.0
H619354 28.2 9.79 169 901 0.9
H619355 11.65 3.1 88 1135 0.04
H619356 2.3 0.11 14 117 0.006
H619357 8.85 0.91 15 62 0.005
H619358 134 <0.02 442 64.3 12.1
H619359 0.13 <0.02 3 17.8 0.3
80 soil samples were collected along the eastern flank of the Monzogabbro intrusive body
where the regional Bathurst Fault is projected to occur. The soil samples were collected at 25
meter intervals and at various depths based on the soil profiles.
Soil sample assay results confirmed the soil profiles can be used to determine areas of interest,
as outcrop is limited away from the intrusive body and along the projected Bathurst Fault trend.
The occurrence of Au + Bi together often indicates a structurally controlled setting and
implicates the Bathurst Fault as a possible conduit and possible trap for mineralized fluids
to migrate to the surface. Along with gold and bismuth, notable concentrations of copper
were also found in both soils and rock samples. Additionally, higher concentrations of cobalt
were also noted in two rock samples and were also coincident with elevated gold and silver
concentrations. The mineralized trend can be traced for over 2km in a north-south direction
directly overlying the surface trace of the Bathurst Fault. The soil sampling found coincident
gold/silver/copper/bismuth mineralization (Table #2 below).
Table 2. 2023 Gela Soil Samples
Sample Ag ppm Au ppm Bi ppm Cu ppm
G0580501 0.13 0.06 20.2 2,880
G0580515 0.19 0.22 120 1,175
G0580516 1.09 0.15 149 1,735
G0580521 1.00 0.72 264 1,625
G0580522 2.69 0.56 346 3,960
G0580528 0.21 0.19 16.8 2,580
G0580529 0.12 0.02 7.31 3,580
G0580530 0.08 0.01 4.47 1,305
G0580531 0.08 0.01 2.98 1550
G0580539 0.25 0.33 28.5 461
Quality Assurance/Quality Control Rock and Soil Samples The above soil samples were
delivered by the Company geologist to the ALS prep facility in Yellowknife, NWT. Prepared
sample pulps were shipped via bonded carrier to ALS Labs in North Vancouver, British
Columbia for analyses. All samples are analyzed for gold, silver and 50 other elements using
ALS Method ME-MS41 which uses an aqua regia digestion followed by ICP-AES or AAS
finish. Silver in excess of 100g/t is determined by ALS method Ag-OG46 which is an aqua
regia digestion followed by ICP-AES or AAS finish performed on a 0.5g sample. Copper in
excess of 10,000g/t is determined by ALS method Cu-OG46 using an aqua regia digestion
followed by ICP-AES or AAS finish. Bathurst Metals Corp. is reliant on ALS Labs in North
Vancouver, British Columbia for its QA/QC protocol as these are preliminary samples and
limited in number.
Qualified Person
Greg Bronson, P.Geo, VP Exploration, is a qualified person as defined by National
Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in
this news release. Mr. Bronson is not independent of the Company.
On behalf of the Board of Directors
“Harold Forzley” CEO
Bathurst Metals Corp.
For more information contact Harold Forzley, CEO
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward-
looking information within the meaning of applicable Canadian securities laws. Forward-
looking information includes, but is not limited to, information concerning the Company's
intentions with respect to the development of its mineral properties. Forward-looking
information is based on the views, opinions, intentions and estimates of management at the
date the information is made, and is based on a number of assumptions and subject to a
variety of risks and uncertainties and other factors that could cause actual events or results
to differ materially from those anticipated or projected in the forward-looking information
(including the actions of other parties who have agreed to do certain things and the approval
of certain regulatory bodies). Many of these assumptions are based on factors and events
that are not within the control of the Company and there is no assurance they will prove to be
correct. There can be no assurance that forward-looking information will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such
information. The Company undertakes no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change except as required by
applicable securities laws, or to comment on analyses, expectations or statements made by
third parties in respect of the Company, its financial or operating results or its securities.
The reader is cautioned not to place undue reliance on forward-looking information.