Battery Mineral Resources Announces Initial Diamond Drilling on the Bald Rock Cobalt-Silver Target Yields Encouraging Assay Results

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Vancouver, British Columbia--(Newsfile Corp. - July 29, 2021) - Battery Mineral Resources Corp. (TSXV: BMR) ("Battery" or "BMR" or the "Company") recently completed a seven hole - 687 metre diamond drill program on its 100%-owned Bald Rock target in the Gowganda Project area (Figure 1).

Assay results for the first five holes (189 samples) have been received. Encouraging assay results include:

  • GBR21001: 3.0m @ 0.63% Cobalt & 3.61g/t Silver;

  • GBR21004: 2.5m @ 0.28% Cobalt & 1.01g/t Silver;

  • GBR21005: 2.0m @ 0.12% Cobalt, 6.22g/t Silver & 0.17% Copper.

These intercepts occur in holes drilled into the southern end of the outcrop zone and along strike under sand overburden. The drilling confirmed mineralization extends vertically below and along strike to the south under sand overburden. The extent of the mineralization remains open at depth and along strike to the south of the recently drilled area.

Highlights

  • The Bald Rock target comprises an area of extensive historic stripping and channel sampling that yielded intervals grading 51.60 grams per tonne silver ("g/t Ag"), >1.00 percent cobalt ("% Co") and 1.37 percent copper ("% Cu") over 0.58 metres ("m"), and 4.19g/t Ag, >0.30% Co, and 1.13% Cu over 2.05m;

  • 2020 Rock sampling by BMR field crews of the stripped outcrop returned assays of 41.30g/t Ag, 1.53% Co and 7.65% Cu;

  • There is no record or field evidence of any historic diamond drilling under the stripped area prior to the June 2021 BMR drilling;

  • Five holes,(GBR21001-005) tested the strike and depth extent of the known 10m wide altered and mineralized zone exposed in the main stripped area;

  • GBR21006 targeted the projected intersection of the Bald Rock shaft vein, the 10m wide main zone, and a central vein;

  • GBR21007 was drilled to test the vertical continuity of high-grade silver vein mineralisation identified in an historic rock grab sample (102,842g/t silver assay) in the central vein northwest of the stripped outcrop;

  • In addition to the intercepts reported above, anomalous cobalt results were also returned from the faulted contact of the Nipissing Diabase with the underlying Huronian sediments including:

    • GBR21001: 1.0m @ 0.04% Co and 0.30% Cu;

    • GBR21002: 0.70m @ 0.05% Co, 1.56g/t Ag, and 0.11% Cu;

    • GBR21004: 1.5m @ 0.25% Co and 2.94g/t Ag;

  • Drill core assays for holes GBR21006 and GBR21007, totalling 10 samples are pending.

About the Bald Rock program

The Bald Rock target is situated in Lawson Township and is also referred to as the LaCarte or Silver Leaf showing. It consists of a shaft that was sunk in the 1930's and numerous pits and mechanically stripped outcrops which have been periodically examined over the years.

In 2010-2011, a stripped outcrop 250m south of the shaft was grab sampled and yielded an assay of 102,842g/t Ag. In 2011, follow-up exploration consisted of a channel sampling program on the main Bald Rock showing located approximately 500.0m south of the shaft. The channel sampling returned several anomalous mineralized zones including;

  • 4.19g/t Ag, >0.30% Co, and 1.13% Cu over 2.1m including 51.60g/t Ag, >1.00% Co and 1.37% Cu over 0.6m;

  • 3.60g/t Ag, >0.35% Co and 0.21% Cu over 0.9m.

Reconnaissance rock grab samples collected by BMR from a prospect pit adjacent to the 2011 channel samples yielded assays of 41.30g/t Ag, 1.53% Co and 7.65% Cu. Stripping and detailed mapping of the outcrop revealed that the altered and mineralized corridor is at least 10.0m wide, extends over a strike length of 40.0m, and is open along strike in both directions.

The vein at the shaft, which was exposed by a pit and stripping, strikes N330oE and yielded an assay of 0.93% cobalt and 5.68g/t silver from a BMR rock grab sample of the vein. The orientation of the vein exposed by the stripping that produced the 102,842g/t Ag assay is located 250m south of the shaft and strikes N350oE, while the main Bald Rock vein system located further south strikes N050oE.

A seven-hole, 687m diamond drill program (Table 1, Figure 2) was completed in late June 2021 to follow up on the significant values obtained from the surface sampling. Five holes tested the depth and strike extent of the Bald Rock vein exposed in the stripped outcrop. The sixth hole targeted the intersection of three mineralised vein sets and a seventh hole targeted an historic high-grade silver rock sample result.

A total of 199 drillcore samples were submitted for assay.

Results from the first five holes (Table 2) indicate that the main outcrop vein zone extends to depth and along strike returning:

  • GBR21001: 3.0m @ 0.63% Co and 3.61g/t Ag;

  • GBR21004: 2.5m @ 0.28% Co and 1.01g/t Ag;

  • GBR21005: 2.0m @ 0.12% Co, 6.22g/t Ag and 0.17% Cu.

Furthermore, the brecciated, fault contact of the Nipissing Diabase with the underlying Huronian sediments yielded:

  • GBR21001: 1.0m @ 0.03% Co and 0.30% Cu;

  • GBR21002: 0.70m @ 0.05% Co, 1.56g/t Ag, and 0.11% Cu;

  • GBR21004: 1.5m @ 0.25% Co and 2.94g/t Ag.

Battery Minerals Resources CEO, Martin Kostuik, states: "The detailed mapping and sampling at the Bald Rock prospect identified a previously undrilled, 10-metre wide altered and mineralized zone that is open along strike and at depth. BMR's recent drilling confirmed that the main vein zone of cobalt-silver mineralization extends to depth and along strike. In addition, the anomalous cobalt-silver mineralization identified at the faulted contact of the diabase and sediments indicates that the structure formed contemporaneously with the veining and maybe a conduit for the mineralization, thereby providing an additional target for further exploration."



Figure 1: Gowganda Project - Bald Rock Location Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6076/91630_4bc6643f147588bc_002full.jpg

Table 1: Details of the Bald Rock Drill Holes

Drillhole
Number

Easting
(m)

Northing
(m)

Depth
(m)

Dip

Azimuth

GBR21001

529419.50

5272483.00

132.00

-45.73o

N313.51oE

GBR21002

529440.50

5272529.00

78.00

-46.13o

N316.58oE

GBR21003

529441.70

5272556.00

60.00

-44.61o

N315.18oE

GBR21004

529419.60

5272483.00

123.00

-60.93o

N312.76oE

GBR21005

529328.70

5272520.00

162.00

-44.88o

N132.13oE

GBR21006

529636.20

5272689.00

81.00

-45.07o

N311.64oE

GBR21007

529565.60

5272803.00

51.00

-45.12o

N075.86oE

TOTALS:

7 HOLES TOTALLING: 687.00m



Figure 2: LiDAR image showing Bald Rock diamond drill hole locations. Inset (in red) highlights the drill holes around the main stripped area. Vein zones (red dashed lines) are projected from measured orientations on stripped outcrop areas

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6076/91630_4bc6643f147588bc_003full.jpg

Table 2: Table showing the significant results from holes GBR21001- 005
(Assays for holes GBR21006 and 007 are pending).

Hole ID

From (m)

To (m)

Sample Interval (m)

Cobalt Co (%)

Silver Ag (g/t)

Copper Cu (%)

GBR21001

56.00

57.00

1.00

0.05

0.46

0.09

59.00

62.00

3.00

0.63

3.61

0.02

including

59.00

59.50

0.50

0.43

0.90

0.01

59.50

60.00

0.50

0.18

0.66

0.02

60.00

60.75

0.75

1.62

7.64

0.01

60.75

61.25

0.50

0.29

2.15

0.01

61.25

62.00

0.75

0.31

4.32

0.04

103.50

104.50

1.00

0.04

0.58

0.30

GBR21002

37.70

38.50

0.80

0.05

0.81

0.07

71.30

72.00

0.70

0.05

1.56

0.11

GBR21003

17.00

17.80

0.80

0.06

0.52

0.02

32.10

32.70

0.60

0.05

0.48

0.03

GBR21004

65.75

68.25

2.50

0.28

1.01

0.05

including

65.75

66.75

1.00

0.64

1.32

0.01

66.75

67.75

1.00

0.01

0.05

0.01

67.75

68.25

0.50

0.12

2.32

0.22

81.80

82.30

0.50

0.08

1.00

0.38

87.90

88.40

0.50

0.19

1.03

0.12

114.75

115.50

0.75

0.11

5.35

0.04

GBR21004

117.50

119.00

1.50

0.25

2.94

0.04

including

117.50

118.50

1.00

0.11

1.22

0.03

118.50

119.00

0.50

0.53

6.38

0.06

GBR21005

107.50

109.50

2.00

0.12

6.22

0.17


Note: All Sample Intervals are downhole core lengths

Quality Control

Sample preparation, analysis and security procedures applied on the BMR exploration projects is aligned with industry best practice. BMR has implemented protocols and procedures to insure high quality collection and management of samples resulting in reliable exploration assay data. BMR 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 is performed by ALS Minerals Laboratories ("ALS") in Sudbury, Ontario and sample analyses by ALS in North Vancouver, British Columbia. ALS analytical facilities are commercial laboratories and are independent from BMR. All BMR samples are collected and packaged by BMR staff and delivered upon receipt at the ALS Laboratory in Sudbury. Samples are logged in a sophisticated laboratory information management system (LIMS) for sample tracking, scheduling, quality control, and electronic reporting. Samples are dried prior to crushing. The samples are crushed to 70% < -2 millimeters and a riffle split of 250 grams is then pulverized to 85% of the material achieving a size of <75 microns. These prepared samples are then shipped to the ALS Laboratory in North Vancouver for analyses by the following methods:

  • ME-MS61: A high precision, multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids. Analysed by inductively coupled plasma mass spectrometry ("ICP") that produces results for 48 elements.

  • ME-OG62: Aqua-Regia digest: Analysed by ICP-AES (Atomic Emission Spectrometry) or sometimes called optical emission spectrometry (ICP-OES) for high levels of Co, Cu, Ni and Ag.

  • Ag-GRA21: Silver by fire assay and gravimetric finish; 30-gram charge. Weight. Used when samples contain > 1500 g/t silver.

  • Au-AA25: Gold was analysed by a 30-gram fire assay method, followed by AAS (atomic absorption spectroscopy).

Certified international standards are 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, and duplicates are analysed at the end of the batch.

Additional Information

P. J. Doyle, FAusIMM (#208850), Battery Mineral Resources Corp. - Vice President Exploration - Canada, supervised the preparation of and approved the scientific and technical information in this press release pertaining to the Canada Exploration Program. Scientific and technical information pertaining to the cobalt resource at McAra was extracted from the Company's NI 43-101 "Technical report on Cobalt Exploration Assets in Canada," dated as of May 26, 2020 with an effective date of March 31, 2020, prepared by Glen Cole (P. Geo) of SRK Consulting (Canada) Inc.

About Battery Mineral Resources Corp.

Battery is a multi-commodity resource company which provides investors with exposure to the world-wide trend towards electrification. Battery is engaged in the discovery, acquisition, and development of battery metals (cobalt, lithium, graphite, nickel & copper), in North and South America and South Korea with the intention of becoming a premier and sustainable supplier of battery minerals to the electrification marketplace. Battery is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada and continues to pursue a focused program to build on the recently announced, +1 million pound cobalt resource at McAra by testing over 50 high-grade primary cobalt silver-nickel-copper targets. In addition, Battery owns 100% of ESI Energy Services, Inc., a pipeline equipment rental and sales company with operations in Leduc, Alberta and Phoenix, Arizona. Finally, Battery is currently developing the Punitaqui Mining Complex, and pursuing the potential near term resumption of operations at the prior 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.

For further information, please contact:

Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: info@bmrcorp.com

The securities offered pursuant to the Private Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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Forward-Looking Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

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