BeMetals Further Extends Seta Vein and Advances All Kazan Gold Projects in Japan
TSXV – BMET
January 11, 2023 OTCQB – BMTLF
FRANKFURT – 1OI.F
BeMetals Further Extends Seta Vein and Advances All Kazan Gold Projects in Japan
Vancouver, British Columbia – BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or
“BeMetals”) is pleased to announce it has further extended the Seta Vein with recently received assay results for
drill holes KT22-13 to KT22-15 from its ongoing diamond drilling program at the Kato Gold Project (“Kato” or the
“Property”) in Hokkaido. The Company also provides a summary of progress for all its Kazan gold projects in Japan.
HIGHLIGHTS OF 2022 KATO DRILLING RESULTS AND PROGRESS OF OTHER KAZAN GOLD PROJECTS:
• KT22-11: Seta Vein: 11.50 metres (“m”) grading 6.42 g/t grams per tonne (“g/t”) gold (“Au”)
o Including: 8.70 m grading 7.80 g/t Au
o Including: 4.52 m grading 11.88 g/t Au
• KT22-12: Seta Vein: 26.10 m grading 3.06 g/t Au
o Including: 10.20 m grading 4.88 g/t Au
o Including: 5.05 m grading 5.76 g/t Au
• KT22-13: Seta Vein: 30.00 m grading 0.47 g/t Au
o Including: 5.25 m grading 1.25 g/t Au
• KT22-15: Seta Vein: 17.50 m grading 0.29 g/t Au, Extends Seta Vein 400 m from KT22-11
• KT22-15: Kamitake Vein: 3.67 m grading 0.86 g/t Au
• TODOROKI PROJECT: Drill targets identified for testing in the 2023 field season. Such targets, if
successfully drilled, provide material extensions to the previously mined Todoroki vein swarm.
• KONOMAI PROJECT: Soil and rock chip sampling completed near historical Otowa mine
• TASHIRO PROJECT: Airborne drone magnetic survey scheduled to start in January 2023
• HOKUSATSU PROJECT: Phase of reconnaissance mapping completed
Note: Intertek Testing Services completed the analytical work with the core samples processed at their accredited laboratory in Manila,
Philippines (See details in QA/QA section below). 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 35 to 65% of the drilled intersections (See Table 1 for details).
John Wilton, President and CEO of BeMetals stated, “We are pleased that the Company’s latest drilling results at
the Kato Project successfully extended the Seta Vein Zone some 400 metres along strike from the Company’s first
intersection in drill hole KT22-11. In addition, hole KT22-15 has also extended the recently identified Kamitake Vein
Zone approximately 350 metres along strike from its first intersection in hole KT22-12. Both the Seta and Kamitake
veins appear to be continuing along strike to the southeast for a considerable distance.
2
Drilling has been paused for a short winter break and will resume next month to test both depth and grade zonation
of the Kato mineralization. This phase of drilling will also test exploration targets to the southeast, along strike from
our 2022 drilling program.
We also made meaningful progress on the rest of our portfolio of exciting gold exploration properties in Japan. The
geological terrain in Japan hosts numerous historical mines including one of the highest-grade gold mines in the
world, the multi -million-ounce Hishikari gold mine , currently in production . Until recently, little gold exploration
has been conducted in Japan since the mid-1990s.
The discovery potential of the country has generated significant exploration interest from senior gold producers
such as B2Gold Corp., a strategic cornerstone investor in BeMetals, and major gold producers including Newmont
Corporation and Barrick Gold Corporation. We believe there are very few remaining regions of the world that are
under-explored with the pedigree for gold discovery and development potential as provided by Japan.”
2022 KATO PROJECT DRILLING PROGRAM
The drilling to-date at the Kato Project has already successfully extended the high-grade gold zone, along strike of
the Seta Vein Zone some 160 metres from the historical intersections of MMAJ completed in the early 1990s. Holes
KT22-11 and KT22-12 support this significant extension which returned 6.42 g/t Au over 11.50 metres and 3.06 g/t
Au over 26.10 metres respectively. These intersections in clude 7.80 g/t over 8.70 metres with 11.88 g/t Au over
4.52 metres in KT22-11, and 4.88 g/t Au over 10.20 metres with 5.76 g/t Au over 5.05 metres in KT22-12 (see Figure
1). Table 1 includes details of the drilling results and indicates the relatively shallow depth of these intersections.
In addition, and potentially most importantly the new drilling results from holes KT 22-13 and KT22 -15 provide
further strike extension of the Seta Vein by approximately 400 metres from hole KT22-11. While the grade of the
Seta Vein in these two drill holes was 0.47 g/t Au over 30.00 metres, including 1.25 g/t Au over 5.25 metres, and
0.29 g/t Au over 17.50 metres is relatively low. It is interpreted that these holes intersected the upper reaches of
the vein where such grades could be expected. Observation of certain quartz vein textures support these
intersections being at a relatively high level in the system. Planned drilling in 2023 will test below these latest
intersections where improved grade continuity could be expected. This has been seen in other areas of the Project
area.
Drill holes KT22-12 and KT22-15 also intersected the recently identified Kamitake Vein Zone close to the Seta Vein.
The Kamitake Vein Zone provided grades of 0.58 g/t Au over 16.75 metres including 0.84 g/t Au over 4.65 metres
and 0.81 g/t Au over 2.10 metres in KT22-12, and 0.86 g/t Au over 3.67 metres in KT22-15. Figure 1 shows the 350
metres of currently drilled strike extent to the Kamitake Vein Zone.
Figure 1 is a simplified geological map of the Kato Project drilling area and illustrates that both the Seta and
Kamitake Vein Zones are open along strike to the southeast. These mineralized veins are trending towards an area
where high-grade outcrop rock chip samples were taken in the Seta River valley. All the data to-date, provide
compelling drill targets for our upcoming 2023 drilling campaign to commence in February.
During the recently completed drilling campaign, additional drilling equipment was used that appea rs to improve
drilling efficiency in the shallow, highly altered units of the host rocks. BeMetals also plans to test other advanced
core drilling technology to further improve drill productivity and core recovery.
3
Figure 1: Location Map of Holes KT22-11 to KT22-15 at Kato Gold Project
Note: Results of the historical rock chip sampling have been previously reported reported, and are detailed in the Company’s technical report entitled, “Kato
Gold Project Japan NI 43-101 Technical Report” with an effective date of July 13, 2021.
4
Table 1 below lists the gold intersections returned during the 2022 drilling program at the Kato Project and includes
both the Seta and Kamitak e Vein intersections with surrounding mineralized stockwork zones. Table 2 provides
details of the drill hole locations, dips, and azimuth.
Table 1: Drill Hole Intersection Results Holes KT22-11 to KT22-15
Drill hole and
Interval
From
(m)
To
(m)
Core
Interval
(m)
Au
g/t
Comments
KT22-11: Seta Vein Zone
Interval 1: 226.00 236.80 10.80 0.43 Stockwork Zone
Interval 2: 236.80 248.30 11.50 6.42 Vein Zone
Including: 239.60 248.30 8.70* 7.80
Including: 239.60 244.12 4.52 11.88
Interval 3: 248.30 253.20 4.90 0.76 Stockwork Zone (1)
KT22-12:
Interval 1: Kamitake Vein 172.25 189.00 16.75 0.58 Kamitake Vein Zone (1)
Including: 178.05 182.70 4.65 0.84 Interpreted Upper Zone of Kamitake Vein
Also Including: 186.90 189.00 2.10 0.81 Interpreted Upper Zone of Kamitake Vein
Interval 2: 229.00 237.00 8.00 0.57 Stockwork Zone (1)
Interval 3: Seta Vein 237.00 263.10 26.10 3.06 Vein Zone
Including: 239.70 249.90 10.20 4.88
Including: 239.70 244.75 5.05† 5.76
KT22-13: Seta Vein Zone
Interval 1: 183.60 188.20 4.60 0.48 Stockwork Zone (1)
Interval 2: 199.00 213.00 14.00 0.31 Vein Zone
Interval 3: 213.00 243.00 30.00 0.47 Vein Zone
Including: 213.00 218.25 5.25 1.25
Including: 217.70 218.25 0.55 3.12
KT22-14 Remained in footwall of Seta Vein and did not
intersect vein mineralization
KT22-15
Interval 1: Kamitake Vein 50.83 54.50 3.67 0.86 Interpreted Upper Zone of Kamitake Vein (1)
Interval 2: Seta Vein 199.25 216.75 17.50 0.29 Interpreted Upper Zone of Seta Vein
Including: 199.25 201.90 2.65 0.43
Including: 206.81 208.00 1.19 0.43
Including: 211.20 213.38 2.18 0.44
Including: 215.30 216.75 1.45 0.45
Table 1 Notes: Intertek Testing Services completed the analytical work with the core samples processed at their accredited laboratory in Manila, Philippines
(See details in QA/QA section below). 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 35 to 65% of the drilled intersections. For the Stockwork Zone a nominal cut-off grade of 0.30 g/t Au has been used to determine
the boundaries of the intersections with no more than 1. 30 metres of internal dilution of the intercept. For the Seta Vein a nominal cut-off grade of 1 g/t Au
has been used to determine the boundaries of the intersections with no more than 4.84m internal dilution of the intercepts. *A nominal cut-off grade of 3 g/t
has been used to determine the boundaries of this intersection with no more than 2.08 metres of internal dilution. †A nominal cut-off grade of 5 g/t has been
used to determine the boundaries of this intersection with no more than 1.91 metres of internal dilution. (1) Current interpretation
5
Table 2: Core Hole ID, Azimuth, Dip, End of Hole Depth and Collar Coordinates
Drill Hole
ID
Azimuth
Degree
Dip
Degree
End of hole
Depth (m)
Easting
(m)
Northing
(m)
Elevation
(m)
KT22-11 015 -53 253.20 683424 4796856 497
KT22-12 065 -60 399.00 683422 4796857 495
KT22-13 255 -60 254.40 683715 4796857 542
KT22-14 255 -68 405.50 683717 4796856 542
KT22-15 065 -74 237.90 683653 4796618 493
THE KATO GOLD PROJECT
The Kato Gold Project is BeMetals’ most advanced , of five exploration projects in Japan based on the amount of
available historical drilling information in central Hokkaido (See Figure 2). The Kato Project (historically referred to
as the Seta River Prospect) is an example of a remarkably well- preserved epithermal gold system. This
mineralization style is an example of an epithermal system and the classic analogy for this mineralization type in
Japan is the Hishikari Gold Mine, on Kyushu. Global examples of this type of mineraliz ation include mines such as
Lihir (Papua New Guinea), Kupol and Julietta (Russia), Waihi (New Zealand) and Masbate (Philippines).*
The Property was previously drilled by the Japanese state agency MMAJ in the 1990s and during that time results
included high-grade intervals of gold such as 17.5 metres grading 8.15 g/t Au in hole 5MAHB- 2 and 18.65 metres
grading 5.01 g/t Au in hole 7MAHB-1.*
*Please refer to technical report entitled, “Kato Gold Project Japan NI 43 -101 Technical Report” with an effective
date of July 13, 2021.
OTHER KAZAN GOLD EXPLORATION PROPERTIES: TODOROKI, KONOMAI, TASHIRO AND HOKUSATSU PROJECTS
Figure 2 shows the locations of all the Kazan gold projects in Japan. At the Todoroki Gold-Silver Project (“Todoroki”)
in western Hokkaido the Company completed a phase of geological compilation and target generation based upon
rock chip and cut channel sampling with geological mapping completed during the year. This data has been
integrated with historical data from the past producing Todoroki Gold Mine. This combined work has led to the
generation of robust targets for drill testing during the 2023 field season.
Such targets, if successfully drilled would provide material extensions to the Todoroki vein swarm, many of which
were historically mined in certain areas . Available records indicate that some 200,000 ounces of gold, and 7.4
million ounces of silver were produced at Todoroki up to 1943. Following WW2, mining continued intermittently
until the 1980s but production information for this period is uncertain.
At the Company’s Konomai Project in northern Hokkaido, a soil and rock chip sampling program was completed
near the historical Otowa Gold Mine on the Konomai property. When the full set of results are available these will
be integrated with existing data to generate targets for follow-up exploration.
In Kyushu, BeMetals received permission from the civil aviation authority and will complete an airborne drone
magnetic survey at the Tashiro Project. Also, the Company will undertake a mapping and sampling program at the
Hokusatsu Project.
6
Figure 2. Location of BeMetals Kazan Gold Projects in Japan
QUALITY ASSURANCE AND QUALITY CONTROL
The new results reported here for this core drilling program were analyzed by Intertek Testing Services, an
independent and accredited laboratory. Samples were prepared and analytical work conducted in Manila,
Philippines. The results were obtained using the following analytical methods as appropriate to determine the gold
grades; FA50N/AA o f 50g fire assay, with Atomic Absorption Spectrometry (“AAS”) finish and FA50GR/GR of 50g
fire assay with Gravimetric finish for over limit samples exceeding 10 g/t Au. The core sampling was conducted with
a robust sampling protocol that included the appropriate insertion of standard reference material, duplicates, and
blanks into the sample stream.
Field operations and management have been conducted by BeMetals’ personnel. The core drilling was conducted
by Energold Drilling.
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 has established itself in the gold sector with the acquisition of a portfolio of wholly owned
exploration projects in Japan. BeMetals is also progressing its tier-one targeted, Pangeni Copper Exploration Project
in the prolific Zambian Copperbelt with co-funding investor the Japanese s tate agency JOGMEC (“Japan
Organization for Metals and Energy Security ”). Guiding and leading BeMetals’ growth strategy is a strong board
7
and management team, founders and significant shareholders of the Company, who have an extensive proven
record of delivering exceptional value in the mining sector, over many decades, through the discovery, construction
and operation of mines around the world.
QUALIFIED PERSON STATEMENT
The technical information in 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 bemetalscorp.com and sign-up to our email list
to receive timely updates, or contact:
Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-928-2797
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 news 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 future exploration, development and advancement of the Kazan Projects in Japan and the Pangeni Project
in Zambia, 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", "forecasts", "anticipates", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "pros pective", 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 different from those expressed or implied by such
statements, including but not limited to: 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 agreem ent for
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 materially from those anticipated in such stateme nts. The
forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this
cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result
of any revisions to any forward- looking statements or forward looking information contained herein to reflect future results, events
or developments, except as require by law. Accordingly, readers should not place undue reliance on forward- looking statements and
information. Please refer to the Company’s most recent filings under its profile at www.sedar.com for further information respecting
the risks affecting the Company and its business.