Coniagas Applies for Permits to Expand on Current 28.9 m of 2.28 % CuEq in MHY Zone
Coniagas Applies for Permits to Expand on Current 28.9 m of 2.28 % CuEq in
MHY Zone
Vancouver, BC – June 12 2024 – Coniagas Battery Metals Inc. (TSXV: COS) (“Coniagas” or the
“Company”), is pleased to provide an update on the ongoing exploration activities at the Graal
property, highlighting the potential of this strategically located asset near Saguenay-Lac St. Jean,
Quebec.
Matt Halliday, P .Geo., member of the Ordre des Géologues du Québec, stated, "The prospect
of finding zones with high copper equivalent values at Graal is encouraging. There have been
numerous drill holes over the last program. We will continue to add to these results within known
mineralized zones.”
Historical Exploration Highlights:
The Company is excited to begin to add to the reported excellent drilling results from the MHY
and Gravi zones, confirming shallow, near -surface mineralization. Significant drill intercepts
include PGM values added to the equivalents:
MHY Zone: Holes GRL-22-60 and GRL-22-61
▪ GRL-22-60 returned:
o 28.90 m of 2.28% CuEq, includes 0.73% Nickel (Ni), 0.41% Copper (Cu), 0.09%
Cobalt (Co), 0.04 g/t Platinum (Pt), 0.05 g/t Palladium (Pd)
▪ GRL-22-61 returned:
o 15.90m of 1.98 % CuEq, includes 0.53% Ni, 0.56% Cu, 0.08% Co, 0.03 g/t Pt,
0.05 g/t Pd
DDH From
(m)
To (m) Length
(m)
Ni (%) Cu (%) Co (%) Cu Eq
(%)
Cu Eq +
PGM
(%)
GRL-22-60 51.50 80.40 28.90 0.73 0.41 0.09 2.00 2.28
Including 61.00 74.80 13.80 1.01 0.57 0.12
Coniagas Battery Metals Inc.
550 Burrard St. Suite 2900
Vancouver, B.C. V6C 0A3
Coniagas.com
Including 51.50 54.00 2.50 1.13 0.57 0.13
Including 56.30 59.10 2.80 1.13 0.27 0.13
GRL-22-61 62.10 78.00 15.90 0.53 0.56 0.08 1.75 1.98
Including 71.40 78.00 6.60 0.94 0.83 0.11
Including 71.40 75.00 3.60 1.12 0.31 0.13
Including 75.00 76.80 1.80 0.77 1.99 0.09
Gravi Zone: Holes NRC-22-24 and GRL-22-57
▪ NRC-22-57 returned:
o 8.40 m of 2.82 % CuEq includes 0.67% Ni, 0.55% Cu, 0.08% Co, 0.08 g/t Pt,
0.035 g/t Pd
▪ NRC-22-24 returned:
o 33.60 m of 1.32 % CuEq includes 0.32% Ni, 0.46% Cu, 0.04% Co, 0.03 g/t Pt,
0.02 g/t Pd
DDH From
(m)
To
(m)
Length
(m)
Ni
(%)
Cu (%) Co (%) Cu Eq
(%)
Cu Eq +
PGM
(%)
GRL-22-57 94.10 102.5
0
8.40 0.67 0.55 0.08 2.40 2.82
Including 96.60 99.90 3.30 1.03 0.68 0.13
NRC-22-24 121.50 155.10 33.60 0.32 0.46 0.04 1.16 1.32
Including 121.50 124.70 3.20 0.95 0.54 0.13
Including 125.50 129.20 3.70 0.25 0.22 0.03
Including 142.80 152.10 9.30 0.64 1.06 0.08
Including 149.40 152.10 2.70 1.07 1.34 0.14
*For equivalents the prices were taken 2024 -06-11: Cu $9 ,779.12/mt, Ni $17 ,833.5/mt, Co
$27,997/mt, Pt $30.61/g, Pd $28.1/g. Note that the CuEq is for total metal content without
consideration for recovery and/or metallurgical losses.
These results reinforce the significant potential of the Graal property to host valuable nickel,
copper, and cobalt mineralization. Notably, some intercepts also contain platinum and palladium,
suggesting a potential for byproduct streams. In the 2022 drilling, we observed up to 1.365 gpt
platinum (Pt), indicating that PGM mineralization at the Graal could be a desirable byproduct.
Next Steps:
The Company is actively applying for permits to expand the near-surface mineral resources at
Graal. This expansion aims to further delineate the resource potential and enhance the
economic viability of the project.
Strategic Location:
The Graal property boasts an excellent location north of Saguenay-Lac St. Jean, offering several
logistical advantages:
• Year-Round Accessibility: The site is road-accessible and drill-ready throughout the year.
• Proximity to Infrastructure: The nearby Chute-de-Passe power station provides reliable
and cost-effective energy.
• Local Industrial Hub: The town of Lac -St. Jean, an industrial hub, offers a skilled
workforce and port access to the St. Lawrence River.
Frank Basa, P .Eng. Ontario, President and CEO of Coniagas, stated, "The recent results at the
MHY and Gravi zones underscore the significant potential of the Graal property. Our strategic
location and robust infrastructure further enhance the project's attractiveness. We are committed
to advancing our exploration efforts and expanding our near-surface mineral resources."
Qualified Person
The technical information in this news release was reviewed and approved by Matthew
Halliday, P .Geo., member of the Ordre des Géologues du Québec, who is a Qualified Person
in accordance with National Instrument 43-101.
Quality Control and Reporting Protocols
The assay results are from OnSite Laboratories in Cobalt, Ontario. The material is crushed to
75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75
microns (200 mesh) and analyzed by Aqua Regia with an Atomic Absorption Spectrometry
(AAS) finish. All samples were run in replicate, and CRMs were included for Cu and Co.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper
and cobalt and platinum group metals in Québec. Coniagas’ strategy is to create value for
shareholders through the development of its mineral properties, with the intention to develop
Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful
exploration involving geophysics as well as shallow drilling that hit mineralization in almost every
hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high -
grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans
in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource
report, metallurgical testing and consultations with First Nations. The Graal project and
immediate work plan are outlined in detail in the “NI 43-101 Technical Report Graal Nickel &
Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada” dated January 17, 2024. The report
is available along with other information at the Company’s website https://coniagas.com/
Based only on the historical drill hole information, the mineralized strike length drilled in
the past highlights a potential target of near-surface tonnage of 30 to 60 million tonnes at
a grade range of 0.60% to 0.80% Nickel and 0.30% to 0.50% Copper with 0.10% to
0.15% Cobalt for the MHY sector (see map below). This calculation excludes the newly
discovered mineralization (NRC-21-03) (see Company Press Release November 24,
2021), the northern Lac Suzanne portion, and the south portion of Nourricier sector. This
estimation does not take into account any potential at depth which is currently being
explored.
Please note that the quantity and grade of this potential target calculation is conceptual in
nature, and there has been insufficient exploration to define a mineral resource. It is
uncertain if further exploration will result in the target being delineated as a mineral
resource. The potential target primary evaluation is a calculation of the length multiplied
by the thickness of intersection by the density of 3.3 to 4.0 t/m3 multiplied by the depth
extension of 150 to 250m based on historical drill holes.
“Frank J. Basa”
Frank J. Basa, P . Eng. Member of Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P . Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: [email protected]
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Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals
Inc. (“Coniagas” or the “Company”) which include, but are not limited to, comments that involve
future events and conditions, which are subject to various risks and uncertainties. Except for
statements of historical facts, comments that address the Coniagas trading on the TSX Venture
Exchange, resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and others are forward -looking. No
assurance can be given that any of the foregoing will be achieved. Forward-looking statements
are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary
materially from forward-looking statements. The Company does not undertake to update any
forward-looking information in this news release or other communications unless required by
law.