BeMetals Returns Further Positive Drilling Results from Pangeni Copper Project
TSXV – BMET
OTCQB – BMTLF
April 14, 2021 FRANKFURT – 1OI.F
BeMetals Returns Further Positive Drilling Results from Pangeni Copper Project
VANCOUVER, CANADA - BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or
“BeMetals) is pleased to announce it has received encouraging exploration drilling results from its 2020 field
program at the Pangeni Copper Project (“Pangeni” or the “Project” or the “Property”) in Zambia. The laboratory
results from the 2020 drilling campaign highlight both the compelling focused exploration potential at the D-
Prospect and generated additional priority targets for testing during this year’s field program.
The Pangeni Project is located on the prospective western extension of the Central African Copperbelt in Zambia
(the “Zambian Copperbelt”) where copper mineralization discovered on the Property is covered by a thin veneer
of Kalahari sand.
HIGHLIGHTS:
• Drill hole D3-C1: Interval 1: 3.98 metres grading 0.39% Copper (“Cu”) from 71.45 metres
Interval 2: 3.70 metres grading 0.37% Cu from 153.36 metres
• Strong motivation for follow-up aircore and core drilling at the D-Prospect
• Newly identified priority G2 and Q3 targets from 2020 aircore program
• Aircore drilling and field operations to commence in H1 2021
Note: See Table 1 below for drill intersection details and QA/QC section
BeMetals President and CEO, John Wilton stated, “ We are highly encouraged by the results from both our 2020
shallow aircore and follow-up core drilling programs. Core drill hole D3-C1 with intervals of 3.98 metres at 0.39%
Cu and 3.70 metres at 0.37% Cu are of specific interest. These two shallow copper intersections are meaningful,
as they occur some 850 metres along the same interpreted strike of mineralized zones intersected in holes D2-C1
and D2-C2 during the 2019 field season. D2-C1 intersected 5.50 metres grading 0.53% Cu, and D2-C2 intersected
5.56 metres grading 0.47% Cu. The combined results significantly expand the footprint and potential of the D -
Prospect underneath the shallow sand cover in this area.
In addition to the successful D-Prospect results, the 2020 aircore program generated two new targets for priority
exploration follow -up during the 2021 field se ason at the G2 and Q3 targets. The G2 target is located at an
interpreted formation contact and the Q3 target is a new standalone anomaly associated with a structural target
some four kilometres southeast of the SW-Prospect.
As recently reported, the Company has entered into a Joint Exploration and Option Agreement with Japan Oil,
Gas and Metals National Corporation (“JOGMEC”) that will allow for acceleration of planned 2021 exploration
with funding from both BeMetals and JOGMEC. We are currently completing the detailed design of this year’s
expanded exploration program and are excited to commence the campaign.”
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2020 EXPLORATION DRILLING RESULTS
The 2020 exploration program included the completion of some 3,700 metres of shallow aircore drilling to test
both significant step outs from copper intersection s from the 2019 field work and to test other priority targets
generated from the interpretation of the airborne magnetics. Also approximately 770 metres of core drilling was
completed in five drill holes to test the copper anomalies below the Kalahari sand cover. The 2020 drilling program
was completed in mid -December. F ull laboratory results were received in late March 2021, and quality
assessments of the data completed.
D-PROSPECT
Figure 1 below illustrates the location and intersected copper mineralization grades in the drill hole D3 -C1 in
relation to the regolith cover map for the area. It shows the new copper intersections in drill hole D3-C1 (See Table
1 below) are some 850 metres from the previously discovered copper zones intersected in D2-C1 and D2-C2 (See
BeMetals’ news release dated October 16, 2019 ). A number of aircore drilling anomalies on line D2 remain
untested and there is currently no aircore drilling extending to the southeast on line D3. Within an approximate
500 metre radius of these copper intersections the average Kalahari sand cover is some 24 metres.
The Company intends to complete infill and step out lines of aircore drilling with the intention of generating more
core drilling targets at this exciting D-Prospect.
FIGURE 1: LOCATION OF D3 -C1 DRILL HOLE AT D-PROSPECT WITH AIRCORE DRILLING ANOMALIES AND
REGOLITH COVER MAP
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TABLE 1: 2020 CORE DRILLING PROGRAM SIGNIFICANT RESULTS
Borehole ID & Zone From
(m)
To
(m)
Core Interval
(m)
Cu
%
D2 PROSPECT
D3-C1
Interval 1: 71.45 75.43 3.98* 0.39
Interval 2: 153.36 157.06 3.70‡ 0.37
CT PROSPECT
B2-C2
34.23 34.72 0.49† 0.67
136.09 136.59 0.50† 0.47
168.00 168.50 0.50† 1.00
Note: Intertek Genalysis completed the analytical work with the core samples processed at their preparation facility in Kitwe,
Zambia. All analytical procedures were conducted in an Intertek Genalysis laboratory in Australia. Reported widths are drilled
core lengths as true widths are unknown at this time. Based upon current data it is estimated true widths range between 80
to 90% of the drilled intersections. *A nominal cut -off grade of 0.40% Cu has been used to determine the boundaries of the
intersection with internal dilution at 0.30% Cu not exceeding 1 metre of the intercept. ‡ denotes intersection where a cut -off
grade of 0.25% Cu has been used with no internal dilution. † denotes single sample.
C4, C5 TARGETS AND CT-PROSPECT
Figure 2 below shows the location of the five 2020 field program core drill hole collars plotted on a satellite image
of the Property. Also indicated are the aircore anomalies for the P roject to date based upon laboratory results.
Drill holes C4-C1 and C5-C1 intersected interpreted basement units with no significant mineralization.
At the CT-Prospect drill hole B2-C2 returned three approximately 0.50 metres length samples with copper grades
of 0.67, 0.47 and 1.00% Cu respectively. These mineralized zones are related to chalcopyrite and minor amounts
of bornite copper sulphides and associated with observed kyanite, an alteration mineral. Kyanite has an important
association with the mineralization at the Sentinel Copper Mine some 130 kilometres from the Pangeni Project.
The thickness of Kalahari cover units at the CT-Prospect ranges from 1 to 7 metres. Detailed structural logging will
be completed for the five core drill holes to allow for an updated interpretatio n of local controls on the
mineralization and to revise targets where aircore anomalies were not fully explained.
NEWLY GENERATED G2 AND Q3 TARGETS
The location of the newly identified G2 and Q3 targets from the aircore drilling that will be followed up in the
planned 2021 exploration program are also indicated on Figure 2. Table 2 below provides drill hole, azimuth, dip,
end of hole depth, and collar co-ordinates for the 2020 core drilling.
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FIGURE 2: LOCATION OF CORE DRILL HOLES D3-C1, B2-C1, B2-C2, C4-C1, C5-C1 AIRCORE DRILLING ANOMALIES
AND SATELLITE IMAGE
TABLE 2: 2020 DRILL HOLE, AZIMUTH, DIP, EOH DEPTH, COLLAR CO-ORDINATES
Drill
Hole ID
Azimuth
Degree
Dip
Degree
End of hole Depth
(m)
Easting
(m)
Northing
(m)
Elevation
(m)
Geological
Results
D3-C1 310 -65 165.90 178056 8601638 1178 See Table 1 above
B2-C1
340
-60
141.60 183841 8598480 1197
Did not intersect
significant
mineralization
B2-C2 025 -75 194.90 183677 8598423 1189 See Table 1 above
C4-C1
310
-75
100.70 177916 8596266 1229
Did not intersect
significant
mineralization
C5-C1
312
-60
167.40 177416 8597587 1213
Did not intersect
significant
mineralization
QUALITY ASSURANCE AND QUALITY CONTROL
The results reported here for these core and aircore drilling programs were analyzed by Intertek Genalysis, an
independent and accredited laboratory. Samples were prepared at their facility in Kitwe, Zambia and analytical
work conducted in Australia. The results were determined using multi -acid, near total digest, and analyzed by
Inductively Coupled Plasma (“ICP”) Optical (Atomic) Emission Spectrometry (“OES”). The core and aircore
sampling was conducted with a robust sampling protocol that included the appropriate insertion of standard
reference material, duplicates, and blanks into the sample stream. The aircore ICP results compare consistently
with the pXRF results conducted in the field and support the robust sampling protocol implemented for the field
operations.
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Field operations and management have been provide d by Remote Exploration Services (“RES”) an independent
geological consulting and contracting company. The core and aircore drilling was conducted by Blurock Mining
Services, of Kitwe, Zambia.
THE PANGENI COPPER PROJECT
The Pangeni Project is located on the western extension of the Zambian Copperbelt, within the Lufilian Arc,
underlain by Katangan Supergroup metasediments situated unconformably on basement schists and gneisses,
which are covered by a thin veneer of Kalahari sands. The open pit Sentinel Co pper Mine is operated by First
Quantum Minerals Ltd. some 130 kilometres to the northeast of the Pangeni Project. A number of major
international mining companies have identified this region of the Zambian Copperbelt to be prospective for the
discovery of tier one copper mines and are also conducting extensive exploration work in this area.
The Pangeni property is geologically prospective for the following deposit types; Basement-hosted Cu (analogues:
the Lumwana Deposit, Nyungu Prospect), Sediment -hosted s tratiform Cu -Co (analogues: Nchanga, Konkola,
Nkana, and Mufulira Deposits), other Domes Region Deposits e.g. Sentinel, and Kansanshi and DRC Copperbelt
Deposits e.g. Lonshi, Frontier, Kamoa-Kakula).
UPDATE ON THE COMPANY’S ENTRY INTO THE GOLD SECTOR WITH ACQUISITIONS IN JAPAN
On February 17, 2021, the Company reported the proposed transaction to acquire privately owned Kronk
Resources Inc. (“Kronk”) and its wholly o wned subsidiary Kazan Resources, which holds the rights to a highly
prospective portfolio of gold exploration projects in Japan (the “Transaction”).
BeMetals is pleased to report that at its Special General Meeting of shareholders held on March 31, 2021,
shareholders of the C ompany approved the T ransaction with 100% of shareholders that cast their vote having
voted in favour of the T ransaction. The Company has further been advised that shareholders of Kronk have also
approved the T ransaction with 100% of shareholders that cast their vote having voted in favour. Additionally,
BeMetals received conditional approval for the Transaction from the TSX Venture Exchange (“TSXV”) on March
11, 2021 and now waits final approval to proceed with closing. The Company intends to close the transaction and
concurrent private placement from B2Gold Corp., of C$7,500,000 as soon as possible following final approval from
TSXV.
ABOUT BEMETALS CORP.
BeMetals is a precious and base metals exploration and development company focused on becoming a leading
metal producer through the acquisition of quality exploration, development and potentially production stage
projects. The Company is establishing itself in the gold sector with the acquisition of certain exploration projects
in Japan, subject to final TSXV approval to close the transaction. BeMetals is also progressing both its advanced
high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho
through a preliminary economic assessment , and its tier- one targeted, Pangeni Copper Exploration Project in
Zambia. Leading BeMetals’ growth strategy is a strong board and management team, founders and si gnificant
shareholders of the Company, who have an extensive proven record of delivering considerable value in the mining
sector through the discovery, construction and operation of mines around the world.
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QUALIFIED PERSON
The technical information i n this news release for BeMetals has been reviewed and approved by John Wilton,
CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43 -
101.
ON BEHALF OF BEMETALS CORP.
"John Wilton"
John Wilton
President, CEO and Director
For further information about BeMetals please visit our website at www.bemetalscorp.com and sign-up to our
email list to receive timely updates, or contact:
Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-609-6141
Email: [email protected]
Neither the 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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward -looking statements" and “forward looking information” (as defined under applicable
securities laws), based on management’s best estimates, assumptions and current expectations. Such statements include but
are not limited to, statements with respect to plans for completion of the Transaction and private placement; plans for an
accelerated exploration program in 2021 at the Pangeni Project ; future exploration and development of the South Mountain
Project, the Pangeni project and the Japan properties; and the acquisition of additional base and/or precious metal projects.
Generally, these forward-looking statements can be identified by the use of forward- looking terminology such as "expects",
"expected", "budgeted", "fo recasts", "anticipates" , "plans", "anticipates", "believes", "intends", "estimates", "projects",
"aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would",
"may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results.
Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance
or achievements to be materially dif ferent from those expressed or implied by such statements, including but not limited to:
receipt of required TSXV approval for the Transaction and fulfilment of all conditions precedent to completion of the
Transaction including closing of the private plac ement, JOGMEC funding its pro -rata portion of exploration programs at the
Pangeni Project, the actual results of exploration activities, the availability of financing and/or cash flow to fund the current
and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreements for the South
Mountain Project and/or the Pangeni Project, and changes in the world commodity markets or equity markets. Although the
Company has attempted to identify important factors that could cause actual results to differ materially from those contained
in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ
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