Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (‘Battery’ or ‘BMR’ or the ‘Company’) is extremely pleased to announce encouraging drill core assay results from the ongoing 2021 – 2022 exploration and infill drill program focused on extensions of the Cinabrio orebody, the Dalmacia target and San Andres target within the Punitaqui mine complex (‘Punitaqui’) in Chile.
These drilling results continue to highlight the strong copper grades and the growing vertical extent of the Cinabrio Norte target.
Punitaqui is slated for resumption of copper concentrate production in Q4-2022. The Cinabrio Norte target represents a potential northern extension of the main Cinabrio mine orebody, which historically was the primary source of ore feed to the Punitaqui copper ore concentration plant for eight-plus years.
Furthermore, CEO Kostuik remarks: ‘The development of Punitaqui towards a restart is progressing well on all fronts, including drilling, engineering and permit modifications. We look forward to the potential of these latest assay results for the Cinabrio Norte Target contributing to the forthcoming restart plan and cashflow at Punitaqui later this year.’
Cinabrio Norte Drill Program
The Cinabrio Norte phase 1 drill testing will continue to follow-up on a limited number of historic drillholes that targeted the northern extension of the Cinabrio orebody. The historic exploration drilling confirmed that the favorable targeted stratigraphic unit (‘TSU’) that hosts the copper mineralization within the Cinabrio orebody extends to the north. The TSU has been mapped along a north-south strike from the mine. Importantly, the Cinabrio Norte target is only 110m north of the Cinabrio underground workings on level 200m. Historic hole CNS-20-01, drilled in 2020 by the prior operators, was drilled completely within the TSU resulting in multiple mineralized intercepts and, most notably, confirmed the presence of TSU for over 200m of strike length with significant copper sulphide mineralization (CNS-20-01: 48m at 0.64% Cu, 3m at 0.47% Cu and 6m at 0.45% Cu).
The current drilling was planned as a series of step-out holes to test the TSU 400m along strike (north-south) to a depth below surface (‘down-dip’) of 330m. The current BMR drilling has outlined a significant zone of high-grade mineralization in the northern portion of the target zone which remains open at depth. This initial phase 1 program of step-out holes has been expanded from 24 holes (3,600m) to 45 holes, totaling 11,000m. Significant visual copper mineralization has been recorded in 30 of the 41 holes completed to date. The remaining planned holes will test ‘drilling gaps between the existing underground workings and the northern zone as well as further test the mineralization at depth.
Drillhole CNN-22-08 was drilled in the northern end of the target and was planned as a 50m step-out down-dip on the targeted stratigraphic unit (‘TSU’) from the earlier intercept in hole CNN-22-01 of 26m at 1.28% Cu. This hole successfully intercepted 53m of the TSU within which a 33.4m intercept grading 1.08% Cu was returned from 194.7m downhole including 18.9m at 1.23% Cu from 195.2m. The intercept confirms both the vertical continuation and grade of the copper mineralization.
Drillhole CNN-22-10 was drilled in the central part of the target to test TSU down-dip of the broad, well mineralized intercept in CNN-22-07 of 41m grading 1.36% Cu. A 17m TSU section was drilled from 133.3m with spotty chalcopyrite in the upper part of the unit that yielded 3.3m at 0.82% Cu. This hole confirms that in the central part of the zone the TSU appears to be thinner at these depths. Whether this change in the TSU is attributable to a structural or stratigraphic control is yet to be determined.
Drillhole CNN-22-11 was planned as a down-dip test of the TSU in the central part of the target area. The hole was a down-dip step-out of the previous hole CNN-22-10 that intercepted 3.3m at 0.82% Cu. The new hole cut a 23m section of the TSU with variable pyrite, minor copper mineralization and a best copper result of 3m at 0.31% Cu from 256m. The results further indicate a thinning of the TSU down-dip in the central part of the Cinabrio Norte target. Future drilling will test thickness at greater depths.
Drillhole CNN-22-13 was collared in the central part of Cinabrio Norte and targeted the TSU down-dip of holes CNN-21-05 (2.5m at 0.46% Cu) and CNN-22-02 (13m at 1.36m). CNN-22-13 successfully intercepted 24m of TSU that produced an assay interval of 4.9m grading 1.25% Cu from 246.1m and indicates a continuation of mineralization down-dip in this area.
Drillhole CNN-22-16 was collared in the northern part of the target area and was designed as a down-dip step-out of the TSU from the CNN-21-11 intercept of 7m at 1.21% Cu. The new hole intercepted a 100m section of the TSU that yielded a 22.5m intercept at 1.15% Cu from 162.5m thus confirming the down-dip continuation of the mineralization. This new intercept further supports this interpreted mineralized opper zone in the northern part of Cinabrio Norte.
Drillhole CNN-22-17 was drilled in the central Cinabrio Norte area as a down-dip step-out of hole CNN-22-09 that cut 25m at 0.65% Cu hosted within a 40m section of the TSU. The new hole intercepted a narrower TSU section of 15m that produced an assay interval of 9m grading 0.37% Cu from 174m.
Drillhole CNN-22-18 was drilled in the southern part of Cinabrio Norte area and targeted a down-dip step-out of the CNN-21-02 copper intercept of 13m at 1.35% Cu hosted within a 32m section of the TSU. This hole cut a 30m section of TSU with only minor copper sulphide mineralization that resulted in a best assay of 2.5m grading 0.55% Cu from 239m.
Drillhole CNN-22-20 was collared in the central part of Cinabrio Norte and targeted the TSU down-dip of CNN-22-13 that intercepted a 24m section of TSU and an assay of 4.9m at 1.25% Cu. CNN-22-20 intercepted 17m of TSU with only minor copper sulphides that produced an assay interval of 4.6m grading 0.18% Cu from 329.8m.
Drillhole CNN-22-21 was a follow-up hole designed to test the TSU and copper sulphides north of previously reported CNN-21-06 that resulted in an 83m zone of TSU that returned 53m at 0.91% Cu including a higher-grade zone of 20.8m grading 1.14% Cu. The new hole successfully intersected 90m of TSU that resulted in assays of 34.1m at 1.35% Cu from 104m including 19.5m grading 1.60% Cu from 118.5m. This result further supports the presence of a significant zone of copper mineralization in the northern area of Cinabrio Norte.
About Battery Mineral Resources Corp.
Battery Mineral Resources (‘BMR’) is a battery mineral company focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. BMR is currently developing the Punitaqui Mining Complex, a past copper-gold producer, in the Coquimbo region of Chile and pursuing a potential near-term resumption of operations in late 2022. Battery Mineral’s mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, nickel, and copper), in North America, South America and South Korea, to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. a profitable pipeline equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Minerals Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol ‘BMR’ and on the OTCQB under the symbol ‘BTRMF’.
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