BlueBird Intersects 8.0 Metres of 1.03% Vanadium Mineralization at Canegrass Project, Western Australia
200 Burrard Street, Suite 1680
Vancouver, British Columbia, V6C 3L6
Tel: (604) 678‐5308
www.BlueBirdbatterymetals.com
BlueBird Intersects 8.0 Metres of 1.03% Vanadium Mineralization at
Canegrass Project, Western Australia
Vancouver, British Columbia, October 23, 2018 – BlueBird Battery Metals Inc. (TSXV: BATT; US:
BBBMF) (the “Company” or “BlueBird”) is pleased to announce the discovery of new high‐grade
vanadium mineralization from the Phase One exploration program at the Company’s Canegrass
Project in Western Australia.
Highlights From Drilling Results:
Results demonstrate that vanadium mineralization extends from surface to down hole
depths of >100m and >300 metres in lateral extents
Considerable strike extent of 4,500 m defined from drilling, rock chip sampling and
magnetic surveys strongly supports potential of defining near s urface vanadium
resource
Table 1 – Assay Results BBRC001 – BBRC005
Hole ID From To Interval (1) V 2O5
(m) (m) (m) (%)
BBRC001 0.00 102.00 102.00 0.36
including 35.00 55.00 20.00 0.49
and 64.00 81.00 17.00 0.78
including 72.00 80.00 8.00 1.03
BBRC002 0.00 121.00 121.00 0.31
including 38.00 61.00 23.00 0.46
and 100.00 119.00 19.00 0.53
including 110.00 119.00 9.00 0.68
BBRC003 0.00 85.00 85.00 0.16
including 32.00 36.00 4.00 0.39
including 32.00 34.00 2.00 0.48
BBRC004 25.00 78.00 53.00 0.23
including 39.00 42.00 3.00 0.39
and 62.00 63.00 1.00 0.63
BBRC005 8.00 63.00 55.00 0.21
including 30.00 38.00 8.00 0.58
including 35.00 38.00 3.00 0.88
(1) The intervals noted in the above Table are measured downhole and are not true width. There is
insufficient information at this time to determine the true width of the mineralized zone.
2
Results for five reverse circulation holes drilled near VTEM‐08 (Ref. Figure 1) have been received.
The holes were drilled on one section and spaced 80 metres betw een holes (Ref. Figure 2). The
initial hole on the section BBRC001 targeted the VTEM‐08 anomaly to evaluate for potential
magmatic nickel, copper sulphide mineralization. Results were r eported on October 15, 2018.
The remaining four holes on the section targeted a broad, elongate, coincident rock geochemical
surface anomaly and magnetic anomaly measuring 4,500 metres by 500 metres. Historical
sampling by Maximus Resources Ltd. (“ Maximus”) returned over 325 samples exceeding 1.0%
V2O5 (not verified by BlueBird). Drilling has confirmed the depth potential of the minerlization to
extend to >100m. Results are summarized in Table 1.
Figure 1 ‐ Canegrass Property – High Resolution Airborne Magnetics with Historical V2O5
Surface Rock Chips
3
Figure 2: Canegrass Property – VTEM‐08 Drill Section Looking North
Gary Nassif, President of Bluebird, comments : “We are very pleased with the initial drill results
from our vanadium target at Cane grass. The results suggest that there is potential to define a
substantial, near‐surface vanadium resource. Vanadium prices ha ve seen strong upward
momentum in the past year and long term fundamentals suggest there is potential for continued
price appreciation, a result of vanadium’s increasing use in ba ttery technology. With over 4,500
metres of defined strike length along the same trend hosting our recent Ni‐Cu‐Co discoveries, we
believe there are significant synergies that we can exploit while exploring the trend, reducing our
exploration costs and increasing our potential resource growth as we can evaluate the magmatic
nickel copper sulphide and vanadium potential simultaneously.”
The surface vanadium anomaly parallels the Wyemandoo Shear and the Sheperds Discordant
Zone (“SDZ”), both of which are major regional structural features transecting the Canegrass
Project area. Historical sampling by Maximus returned 325 sample s g r e a t e r t h a n 1 . 0 % V2O5;
averaging 1.21% V2O5.
Holes BBRC001 through BBRC005 test a 320 metre width across the surface anomaly (Ref. Figures
1 and 2). The results indicate that the V2O5 mineralization is extensive, extending across the
entire drill section from surface to depths in excess of 100 metres. V2O5 grades appear to
decrease moving from east to west, away from the Wyemandoo Shea r / SDZ, with the highest
grades and longest intervals returned in holes BBRC001 and BBRC002 (Ref. Table 1). The higher‐
grade mineralization is directly related to increased magnetite content in the host rocks.
4
Directly to the north of Bluebird’s Canegrass Property is the fully permitted and constructed
Windimurra Vanadium Mine owned by Atlantic Vanadium Pty Ltd (“ Atlantic”). Atlantic acquired
the mine in 2016 with the intention of re‐establishing production. The mine complex is reported
to have a historical capital investments of $500 million AUD. Vanadium mineralization at Atlantic
i s c o i n c i d e n t w i t h t h e S D Z a n d h a s b e e n t r a c e d f o r o v e r 2 7 k m to the northern boundary of
BlueBird’s Canegrass tenements. The resource at Atlantic is 235 M tonnes @ 0.49% V 2O5 MI & I
(combined measured and indicated and inferred) and has disclosed vanadium grades in outcrop
of up to 0.8% V2O5 along the southern most expression of the SDZ, similar to the grades identified
in surface outcrop sampling reported by Maximus.
A recent high resolution airborne magnetic survey completed by Bluebird on the Canegrass
tenements has traced the magneti c trend associated with the SDZ for a further 9.4 km North‐
South across the Canegrass property. (Ref. Figure 1). The magnetic trend dominates the airborne
magnetic response and the Company believes it is an excellent tool to assist in drill targeting.
About Vanadium
Vanadium is primarily used as an additive in steelmaking to increase the hardness of steel.
Globally, 85% of Vanadium production is used in steel making. Vanadium is seeing increased use
in battery production with many experts predicting that Vanadiu m Flow batteries are the best
solution to store electricity in conjunction with alternative energy sources such as wind and solar
p o w e r . E x p o n e n t i a l i n c r e a s e i n vanadium price this year combined with increasing utility of
vanadium as energy storage medium provides compelling investment thesis.
About Canegrass Project
The 4,200 Ha project is located within a highly prospective geo logical setting, where historical
exploration drilling intersected anomalous Ni‐Co‐Cu mineralizat ion at two locations within the
property footprint. Airborne VTEM TM identified 14 geophysical anomalies in 2013. Historical
drilling in 2014 at two of the identified targets (CG‐02 and CG‐039) intersected anomalous
Ni‐Co‐Cu mineralization in 9 of 10 holes. Downhole electromagne tic (“EM”) surveys identified
off‐hole anomalies that have been confirmed by recent surface E M surveys completed earlier
this year. The Company’s 2018 Phase One drill program targeted off‐hole anomalies at CG‐02 and
CG‐039 targets and surface EM anomalies at targets VTEM 08 and V T E M 0 6 . T h e 4 . 5 k m
magnetite rich‐gabbro‐norite zone has yielded historical surface rock chip samples that returned
anomalous V2O5 grades in excess of 1.0%. The program has been extremely suc cessful to date
confirming both Ni‐Cu‐Co and V2O5 mineralization
QA/QC
Bluebird’s exploration programs are supervised by Qualified Persons responsible and accountable
for the planning, execution and interpretation of all exploration activity. Bluebird has quality
assurance and control systems (QA/QC) in place to ensure that NI 43‐101 and industry best
practices are followed for drilling, sampling, analysis and rep orting. Please refer to the QA/QC
5
section of Bluebird’s press release dated October 15, 2018 for details on the current protocols in
place.
The technical content of this news release has been reviewed and approved by Wes Hanson,
P.Geo., a director of the Company and a Qualified Person pursua nt to National Instrument 43‐
101.
The Company is also pleased to announce that, subject to TSX Ve nture Exchange acceptance, it
has retained Venture Liquidity Providers Inc. (“VLP” ) t o i n i t i a t e i t s m a r k e t ‐ m a k i n g s e r v i c e t o
provide assistance in maintaining an orderly trading market for the common shares of the
Company.
The market‐making service will be undertaken by VLP through reg istered broker, W.D. Latimer
Co. Ltd., in compliance with the policies of the TSX Venture Exchange and other applicable laws.
For its services, the Company has agreed to pay VLP $5,000 per month for a period of 12 months.
The agreement may be terminated at any time by the Company or V LP. The Company and VLP
act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its
securities. The finances and the shares required for the market ‐making service are provided by
W.D. Latimer. The fee paid by the Company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto and provi des a variety of services focused
on TSX Venture Exchange listed issuers.
About BlueBird Battery Metals
BlueBird Battery Metals (TSXV: BATT; US: BBBMF) is a Canadian publicly listed company focused
on the exploration and development of strategic battery metals projects, primarily cobalt and
nickel. BlueBird’s goal is to pursue a business model that offers direct and long‐term leverage to
the price appreciation in nickel and cobalt, two principal materials in EV batteries. The Company
plans to become a leader in the battery metals sector, as cobal t is currently in a global supply
deficit, has a vulnerable supply chain, and is part of an emerging sector with extraordinary
potential. BlueBird is advancing its portfolio of battery metals focused assets in Western Australia
and New South Wales, Australia, , and is currently reviewing ne w acquisition opportunities to
add to the Company’s project portfolio.
On Behalf of the Board of BlueBird Battery Metals Inc.
Nav Dhaliwal
CEO
For more information, please contact 1‐855‐584‐0160 or [email protected].
This news release may contain or refer to forward‐looking information based on current expectations, including, but
not limited to the Company achie ving success in exploring its p roperties and the impact on the Company of these
events, including the effect on its share price. Forward‐lookin g information is subject to significant risks and
uncertainties, as actual results may differ materially from forecasted results. Forward‐looking information is provided
6
as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or
circumstances. References to other issuers with nearby projects is for information purposes only and there are no
assurances the Company will achieve similar results.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor th eir 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.