Mr. Martin Kostuik reports
BATTERY MINERAL RESOURCES COBALT EXPLORATION UPDATE: FOLLOW-UP DRILLING TO COMMENCE AT THE FABRE WEST PROSPECT, QUEBEC
Battery Mineral Resources Corp. has begun phase 2 diamond drilling at the Fabre West prospect. The current program of 1,500 metres will follow up earlier successful cobalt-silver-mineralized intercepts and test the southwest extension of a coincident geophysical anomaly.
The Fabre project is located in the Ontario-Quebec cobalt embayment, which has historical production of 525 million ounces of silver and 50 million pounds of cobalt, and 30 kilometres southeast of the historical mining and refining town of Cobalt, Ont.
- A 2020 detailed review of exploration work on the Fabre West prospect resulted in the decision to complete a follow-up, high-resolution, three-dimensional induced polarization survey focused on the area southwest of the 2019 drilling, where a second chargeability anomaly was identified at the edge of the 2018 survey.
- Historical (1947 to 2010) high-grade-cobalt-silver drill intercepts include:
- 1947-40 -- 1.6 per cent Co and 59.9 grams per tonne Ag over 1.3 metres and 2.5 per cent Co and 8.7 g/t Ag over 0.9 m;
- FV95-1 -- 2.7 per cent Co and 714.2 g/t Ag over 1.1 m and 303.3 g/t Ag over 5.6 m, including 8 per cent Co over 0.5 m;
- TRS-F002-10 -- 68.4 g/t Ag over 30 m.
- In early 2019, a Battery Mineral Resources diamond drill program (18 holes/2,917 metres) targeted Archean rocks for cobalt-silver mineralization. Significant silver zones intercepted include:
- FAW19-001 -- 37.6 g/t Ag over eight m from 37 m;
- FAW19-003 -- 419.3 g/t Ag over three m from 64.4 m;
- FAW19-004 -- 123.8 g/t Ag over 7.5 m from 77.6 m, including 0.5 m of 0.74 per cent Co and 1,740 g/t Ag at 79.3 m;
- FAW19-011 -- 191.2 g/t Ag over four m from four m.
- The 2019 drilling also produced several anomalous base metal values (zinc, copper and lead) associated with the silver zones, including:
- FAW19-002 -- 0.5 per cent Zn over 23.8 m from 4.2 m and 0.18 per cent Zn over 49.8 m from 84.2 m;
- FAW19-004 -- 0.17 per cent Cu, 0.15 per cent Pb and 0.09 per cent Co over 7.5 m from 77.6 m;
- FAW19-006 -- 1.2 per cent Zn, 0.49 per cent Pb and 8.65 g/t Ag over 11 m from seven m.
Battery chief executive officer Martin Kostuik commented: "This drill program is a follow-up and continuation of previously successful exploration campaigns at Fabre which displayed very good values of cobalt and silver. Previous drilling coupled with geophysics indicate the Fabre West target is open along strike to the southwest. We are very excited because this is how our one-million-plus-pound and 1.47 per cent McAra cobalt resource began. We look forward to drill testing this prospective high-grade-cobalt-silver target beginning immediately."
Sample preparation, analysis and security procedures applied on the Battery Mineral Resources exploration projects are aligned with industry best practices. Battery Mineral Resources has implemented protocols and procedures to insure the high-quality collection and management of samples, resulting in reliable exploration assay data. Battery Mineral Resources has implemented formal analytical quality control monitoring for all of its field sampling and drilling programs by inserting blanks and certified reference materials into every sample sequence dispatched.
Sample preparation was performed by ALS in Sudbury, Ont., and sample analyses by ALS in North Vancouver, B.C. ALS analytical facilities are commercial laboratories and are independent from Battery Mineral Resources. All Battery Mineral Resources samples were bagged by Battery Mineral Resources staff and delivered upon receipt to the ALS laboratory in Sudbury. Samples were logged in a sophisticated laboratory information management system for sample tracking, scheduling, quality control and electronic reporting. Samples were dried in special drying ovens prior to crushing. The samples were crushed to 70 per cent fewer than two millimetres, and a riffle split of 250 grams was then pulverized to 85 per cent of the material, achieving a size of fewer than 75 micrometres. These prepared samples were then shipped to the ALS laboratory in North Vancouver for analyses by the following methods:
- ME-MS61 -- a high-precision, multiacid digest, including hydrofluoric, nitric, perchloric and hydrochloric acids; analyzed by inductively coupled plasma mass spectrometry that produced results for 48 elements;
- ME-OG62 -- aqua regia digest; analyzed by ICP atomic emission spectrometry (sometimes called optical emission spectrometry) for high levels of cobalt, copper, nickel and silver;
- Ag-GRA21 -- silver by fire assay and gravimetric finish; 30-gram charge weight used when samples contain greater than 1,500 parts per million silver;
- Au-AA25 -- gold analyzed by a 30-gram fire assay method, followed by atomic absorption spectroscopy.
The 48-element ICP trace element data were also collected and reported by the laboratory. Certified international standards were inserted into sample batches by ALS. Blanks and duplicates are inserted within each analytical run. The blank is inserted at the beginning. Internationally certified standards are inserted at random intervals. Duplicates are analyzed at the end of the batch.
P.J. Doyle, FAusIMM (No. 208850), Battery Mineral Resources' vice-president of exploration, supervised the preparation of and approved the scientific and technical information in this press release pertaining to the Canada exploration program.
Issuance of stock options
The company has granted 250,000 stock options to a consultant of the company at an exercise price of 75 cents per share. The options will vest over the next 12 months and will expire after five years, ending on Nov. 1, 2026.
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery mineral company with high-quality assets, providing shareholders exposure to the global megatrend of electrification and focusing on growth through cash flow, exploration and acquisitions in the world's top mining jurisdictions. Battery Mineral Resources is currently developing the Punitaqui mining complex and pursuing the potential near-term resumption of operations at the past-producing Punitaqui copper-gold mine. The Punitaqui copper-gold mine most recently produced approximately 21,000 tonnes of copper concentrate in 2019 and is located in the Coquimbo region of Chile.
Battery Mineral Resources is engaged in the discovery, acquisition and development of battery metals (cobalt, lithium, graphite, nickel and copper) in North America, South America and South Korea, with the intention of becoming a premier and sustainable supplier of battery minerals to the electrification marketplace. Battery Mineral Resources is the largest mineral claim holder in the historical Gowganda cobalt-silver camp, Canada, and continues to pursue a focused program to build on the recently announced, high-grade, greater-than-one-million-pound-cobalt resource at McAra by testing over 50 high-grade primary cobalt-silver-nickel-copper targets. In addition, Battery owns 100 per cent of ESI Energy Services Inc. (also known as Ozzie's), a pipeline equipment rental and sales company with operations in Leduc, Alta., and Phoenix, Ariz.
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