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Battery Mineral Resources Announces Intercept of 23 Meters of 1.55% Copper from Dalmacia Target at Its Punitaqui Mine

Vancouver, British Columbia–(Newsfile Corp. – June 9, 2022) – Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company")…

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Vancouver, British Columbia–(Newsfile Corp. – June 9, 2022) – Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company“) announces encouraging drill core assay results from the recently completed Phase 1 exploration and infill drill program at the Dalmacia zone of the Punitaqui mine complex (‘Punitaqui”) in Chile. The Punitaqui mine is slated for resumption of mine operations in the second half of 2022.

The Dalmacia target is located in the southern portion of the Punitaqui area approximately 6 kilometers (“km”) south of the Punitaqui copper processing plant. The Dalmacia target has underground mining access, partially delineated mineralized zones and is targeted as a potential new source of ore feed to the Punitaqui plant.

Highlights

  • Final assay results for the following Dalmacia drillholes include (see Table 1):
    • DS-22-09: 18 meters (“m”) at 1.51% Copper (“Cu”) including 8m at 2.39% Cu
    • DS-22-10: 23m at 1.55% Cu including 12m at 2.50% Cu
    • DS-22-11: 11m at 1.96% Cu, 6m at 2.40% Cu and 11m at 1.50% Cu
    • DS-22-12: 5m at 1.08% Cu, 4m at 1.22% Cu and 11m at 0.90% Cu
    • DS-22-13: 5m at 1.00% Cu
    • DS-22-15: 29m at 1.05% Cu including 7m at 1.94% Cu
    • DS-22-16: 4m at 1.17% Cu
    • DS-22-17: 6m at 1.15% Cu
    • DS-22-18: 6m at 0.96% Cu
  • The phase 1 drill program at Dalmacia has been completed and comprised of 9,757 meters in 52 drill holes.
  • Geological drill cross-sections were compiled, and an updated 3D geological model has been finalized.
  • The new 3D geological model and assay database will form the basis of a resource estimate to be completed by consultants JDS Energy & Mining Inc.
  • Planning for a follow-up infill Reverse Circulation (“RC”) program at Dalmacia North and an exploration and infill drill test of the remaining 1,000m strike length at Dalmacia is complete and a number of new drill pads have been constructed.

Battery CEO, Martin Kostuik states; “We continue to advance the Punitaqui project via drilling, metallurgical testing, permit modifications, community relations and are gaining clarity on non-dilutive financing for the capital required for resumption of operations at Punitaqui. These drilling results further confirm the high-grade of the copper mineralization at Dalmacia North. Overall, the 2021-2022 Dalmacia North assay results are far better than expected. These results clearly delineate high-grade copper grades over significant intervals including: 23m at 1.55% Cu, 18m at 1.51% Cu and 11m at 1.96% Cu.

“We are very pleased with the Dalmacia Phase 1 drill program results – continued results like these leading to the planned restart of our former producing Punitaqui copper mine, will give our investors an opportunity to participate in a potentially significant re-rating in BMR’s valuation as we transition from development to operations and positive cash flow. We look forward to providing further exciting updates for the drill program as we continue to progress.”

Dalmacia Drill Program

The 2021-22 phase 1 drill program consisted of 9,757.56m in 52 diamond core holes. The geological setting of the Dalmacia target is different from the Cinabrio orebody which is located 20 kilometers to the north. At Dalmacia, structurally controlled copper-gold mineralization is developed in the contacts between granite, sub-volcanic andesitic porphyry intrusives and volcano-sedimentary rocks. Controls on mineralization include small scale shear zones, intrusive contacts, vesicular andesites and alteration zones. High grade copper mineralization occurs in small high-grade pods which locally occur in clusters enveloped in low grade mineralization.

The upper portion of the Dalmacia target is accessed via a portal and an underground ramp with limited level development. The Phase 1 drill program focused on the northernmost 600m of the zone, was designed to infill and confirm the continuity of mineralization between previous drilling and includes a series of step-out holes to test the potential adjacent to the main zone of copper-gold-silver mineralization as defined by historic drilling.

Complete assay results were recently received for eleven holes (see Table 1 and Figure 1). A summary of the targeting rationale and results for the significant recent drillholes follows below.

DS-22-09 was planned to test a “drilling gap” above the lower portion of the DS-21-08 intercept (102m at 1.41% Cu including 78m at 1.67% Cu and 16m at 3.52% Cu). This infill drillhole intersected two narrow copper zones including 6m at 1.01% Cu, 3m at 1.19% Cu higher up in the hole and deeper hits of 18m at 1.51% Cu including 8m at 2.39% Cu as well as 6m at 1.18% Cu. The higher-grade deeper intercepts correlate with an extension of the DS-21-08 mineralization.

DS-22-10 was designed to test as an infill hole in the northeast part of the target area to follow-up hole DS-22-02 (11m at 1.08% Cu, including 4m at 2.32% Cu). The new hole produced two significant assay intervals: 23m at 1.55% Cu including 12m at 2.50% Cu as well as intercepts of 4m at 1.81% Cu and 7m at 1.12% Cu. The upper intercept is interpreted to represent be the extension of the DS-22-02 mineralization while the lower assay interval is the southern extension of the copper mineralization encountered in DS-11-15 (29m at 1.05% Cu including 7m at 1.94% Cu).

DS-22-11 is an infill hole drilled along the eastern margin of the target zone. This hole cut several mineralized intercepts including: 11m at 1.96% Cu, 6m at 2.40% Cu and 11m at 1.50% Cu including 6m at 2.28% Cu. The copper mineralization encountered is interpreted as the down-dip extension of the DS-22-13 intercept (5m at 1.00% Cu).

DS-22-12 was drilled as an infill hole in the northeast part of the target area to follow-up the copper zone intersected in DS-2202 (11m at 1.08% Cu, including 4m at 2.32% Cu). DS-22-12 encountered three copper zones: 5m at 1.08% Cu, 4m at 1.22% Cu and 11m at 0.90% Cu. The upper intercept is an extension of the DS-22-02 mineralization.

DS-22-13 was planned as an infill hole in the northeast part of the target area to test the up-dip extent of the copper mineralization cut in hole DS-22-11: (11m at 1.96% Cu, 6m at 2.40% Cu and 11m at 1.50% Cu including 6m at 2.28% Cu) The new hole confirmed the up-dip extension of the copper zone with an intercept of 5m at 1.00% Cu.

DS-22-15 was planned to test the for a western extension of the lower intercept in DS-22-12 (11m at 0.90% Cu). Hole DS-22-15 intersected two mineralized zones: 29m at 1.05% Cu including 7m at 1.94% Cu as well as an intercept of 15m at 0.81% Cu including 3m at 1.81% Cu and 3m at 1.34% Cu that confirmed the western extension of the DS-22-12 copper zone.

DS-22-16 was designed as an infill hole that tested a “drilling gap” between a number of mineralized intercepts within the northeastern part of the target. The new hole successfully tested the gap and yielded two intercepts: 4m at 1.17% Cu and 3m at 1.18% Cu.

DS-22-17 was planned as an infill hole in the central part of the target testing a “drilling gap” between several mineralized intercepts. The new hole encountered 6m at 1.15% Cu which is interpreted as a feeder structure for the copper mineralization intersected in historic hole DS-14-12 (20m at 1.53% Cu).

DS-22-18 was designed as an infill hole in the northeast part of the target. The new hole encountered number of narrow zones of anomalous copper mineralization, hosted within an andesitic intrusive. The best intercept reported in DS-22-18 was 6m at 0.96% Cu.

DS-22-19 was designed to test the southwest margin of the target area and probe for a southeast extension of the DS-21-21 high grade copper intercept of 17m at 3.77% Cu. The new hole encountered several narrow zones of moderate grade mineralization which are interpreted to correlate with the high-grade intersections in DS-21-21. DS-22-19 intersected 17m at 0.69% Cu including 2m at 1.93% Cu

DS-22-20 was planned to test for northeast extension of mineralization encountered in drill holes DS-22-02 (11m at 1.08% Cu, including 4m at 2.32% Cu), DS-22-12 (11m at 0.82% Cu) and DS-22-16 (8m at 5.29% Cu and 8m at 3.53% Cu) in the eastern part of the target area. The new hole encountered 4m at 1.02% Cu suggesting the copper mineralized extends in this direction.

Table 1: New BMR-Dalmacia Target Significant Assays

Hole
Number
From (m) To (m) Interval
(m)
Copper (%) Silver (g/t)

DS-22-09 46 52 6 1.01 0.9
and 58 61 3 1.19 0.8
and 103 105 2 2.01 1.5
and 114 132 18 1.51 2.0
including 114 122 8 2.39 3.6
and 126 132 6 1.18 0.9
DS-22-10 19 23 4 1.81 1.7
and 26 28 2 4.53 8.5
and 48 71 23 1.55 0.7
including 59 71 12 2.50 0.8
and 183 190 7 1.12 0.9
including 183 187 4 1.64 1.1
DS-22-11 68 72 4 0.93 1.1
and 128 134 6 2.40 2.1
and 140 151 11 1.50 2.4
including 141 147 6 2.28 3.5
and 156 167 11 1.96 1.1
and 192 194 2 0.76 0.7
and 197 202 5 0.81
including 200 202 2 1.36
DS-22-12 55 60 5 1.08 0.8
and 90 94 4 0.82 1.1
and 116 120 4 1.22 1.0
and 135 140 5 0.82 0.6
and 155 166 11 0.90 0.6
DS-22-13 129 131 2 0.63 1.0
and 149 154 5 1.00 0.4
and 192 195 3 0.80 1.1
DS-22-15 158 173 15 0.81 1.4
including 158 161 3 1.81 1.7
including 168 171 3 1.34 2.7
and 197 226 29 1.05 2.5
including 197 204 7 1.94 5.1
including 212 215 3 2.59 4.7
including 223 226 3 0.71 1.3
DS-22-16 9 15 6 0.88 0.9
and 22 26 4 1.17 2.0
and 98 101 3 1.18 0.8
and 146 148 2 0.84 2.0
DS-22-17 65 71 6 1.15 1.0
DS-22-18 5 7 2 0.60 1.0
and 25 31 6 0.96 1.0
and 48 54 6 0.79 1.0
and 67 69 2 0.69 1.5
and 117 118 1 1.20 1.0
and 172 176 4 0.58 0.4
and 182 187 5 0.79 1.2
including 182 184 2 1.09 2.0
DS-22-19 7 11 4 0.59 0.7
and 15 32 17 0.69 0.9
including 15 27 12 0.64 0.8
and 30 32 2 1.93 2.0
and 72 75 3 0.85 8.3
DS-22-20 73 77 4 0.60 0.4
and 87 92 5 0.90 0.4
including 87 91 4 1.02 0.4

Note: All intervals are downhole core lengths

Significant BMR assay results received to date for the Dalmacia 2021-22 drilling include the following (see Table 2):

Table 2: Earlier 2021 BMR – Dalmacia Target Significant Drill Assay Intervals

Drillhole Number From To Sample Interval (m) Copper Silver Gold
(m) (m) (%) (g/t) (g/t)
DS-21-01 79 91 12 1.79 2.5 0.028
including 80 88 8 2.44 3.2 0.035
and 105 128 23 1.16 1.7 0.016
including 115 128 13 1.56 2.1 0.024
including 115 122 7 2.32 3.1 0.036
and 137 139 2 1.06 0.7 0.03
and 180 184 4 0.89 0.4
and 220 224.9 4.9 0.72 0.6
DS-21-02 22 29 7 1.67 2.6 0.08
and 64 74 10 1.03 2.1
including 64 67 3 1.49 2.3
and 71 73 2 2.34 5
and 99 106 7 2.58 2.7
and 177 188 11 1.08 0.9 0.08
including 177 181 4 2.32 1.4 0.17
including 177 180 3 2.9 1.7 0.22
DS-21-03 46 61 15 1.01 1.2 0.017
including 46 50 4 2.47 3.1 0.05
DS-21-04 70 76 6 0.71 0.9 0.012
including 72 76 4 0.87 1 0.01
and 89 102 13 0.64 0.9
including 93 95 2 1.24 1.5
DS-21-05 52 58 6 1.16 1.7 0.017
and 131 132 1 1.81 0.4 0.695
and 141 143 2 2.98 5 3.835
and 155 156 1 3.22 2
DS-21-06 37 69 32 0.73 0.5
including 37 53 16 1.15 0.6 0.06
including 37 44 7 1.75 0.8 0.079
and 112 115 3 2.14 0.6 0.03
and 134 139 5 1.58 0.4 0.019
and 167 262 95 0.78 0.5
including 167 170 3 1.84 0.8 0.096
and 183 187 4 1.75 0.6 0.071
and 19 262 65 0.93 0.5
including 197 211 14 2.44 0.7 0.039
and 243 262 19 1.1 0.6 0.022
including 243 251 8 1.88 0.7 0.029
and 260 262 2 1.79 0.7 0.06
DS-21-07 24 57 33 1.77 1.5 0.052
including 24 33 9 3.44 1.6 0.167
and 39 46 7 2.54 3.5 0.02
and 84 94 10 0.84 1.2 0.032
and 176 182 6 2.19 0.4
DS-21-08 48 150 102 1.41 1.2
including 48 126 78 1.67 1.4
including 48 64 16 3.52 4.5 0.017
DS-21-10 138 140 2 2.4 1
DS-21-11 59 61 2 1.14 2 0.043
and 78 102 24 1.04 0.5
including 78 88 10 1.06 0.5
including 78 82 4 1.6 0.4
including 86 88 2 1.78 1
and 96 102 6 1.95 0.4
DS-21-12 116 121 5 0.62 1
and 143 145 2 0.95 1
and 161 172 11 0.82 0.5
DS-21-13 44 62 18 1.61 0.7 0.01
and 135 147 12 2.13 1.5
including 139 147 8 2.95 1.9
and 157 162 5 3.26 0.9
and 181 188 7 1.87 0.7
DS-21-14 73 82 9 0.74 0.7 0.038
including 78 82 4 1.03 0.7 0.05
and 145 160 15 1.16 0.4
including 145 152 7 1.44 0.4
and 172 174 2 1.11 0.4
and 186 195 9 1.53 1.6 0.052
and 205 209 4 1.5 0.4 0.24
DS-21-16 74 82 8 5.29 0.026
and 102 110 8 3.53 0.065
DS-21-09 89 91 2 0.88 1.3
and 98 114 16 1.84 0.5
including 101 113 12 2.18 0.6
and 234 236 2 1.35 0.5
DS-21-15 128 136 8 1.14 1.2 0.023
including 128 131 3 1.58 1.8 0.032
and 133 136 3 1.36 1.3 0.025
DS-21-18 12 80 68 1.14 0.9
including 12 38 26 1.48 0.8
including 12 26 14 2.07 1
and 46 62 16 1.43 1.4
and 72 80 8 1.5 1.1 0.009
DS-21-19 12 48 36 0.99 0.3
and 66 72 6 1.3 0.7
DS-21-20 56 70 14 1.3 0.7
including 62 70 8 1.27 0.9 0.521
and 116 120 4 0.72 0.1
and 140 144 4 1.79 0.4
DS-21-21 68 121 53 2.34 0.8
including 76 121 45 2.57 0.9 0.047
including 104 121 17 3.77 0.8 0.1
DS-21-22 60 64 4 3.6 2.5
and 93 96 3 1.12 0.3 0.044
and 128 130 2 1.06 0.1
DS-21-23A 39 57 18 1.05 0.3
including 40 44 4 1.92 0.9 0.069
including 48 50 2 2.05 0.1 0.178
including 55 57 2 1.54 0.1 0.065
and 94 113 19 1.36 0.8
including 97 102 5 2.44 1.1 0.468
and 110 113 3 1.96 1.7 0.112
DS-21-24 75 96 21 0.64 0.8
including 92 96 4 1.21 2.1
and 115 117 2 1.02 0.6
DS-21-25 52 72 20 1.22 1.2
including 52 58 6 2.87 3.2 0.149
and 210 216 6 1.46 0.3
and 224 229 5 1.57 0.1
DS-21-26 72 105 33 1.64 4.8
including 77 98 21 2.05 6.9
DS-21-27 68 73 5 1.45 0.7
including 68 72 4 1.64 0.8 0.005
DS-21-28 79 99 20 1.38 0.6
and 106 109 3 1.13 0.9 0.079
and 121 123 2 1.15 0.1 0.079

Note: All intervals are downhole core lengths

Figure 1: Dalmacia North Target Drill Collar Plan with Assay Result Highlights

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/127098_07359a6a2414088d_002full.jpg

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 ensure high quality collection and management of samples resulting in reliable exploration assay data. BMR has implemented formal analytical quality control monitoring for all field sampling and drilling programs by inserting blanks and certified reference materials into every sample sequence dispatched.

Sample preparation is performed ALS Global – Geochemistry Analytical Lab in La Serena, Chile and sample analyses by ALS in Lima, Peru. 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. Samples are logged in a sophisticated laboratory information management system for sample tracking, scheduling, quality control, and electronic reporting. Samples are dried then 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 Lima Peru for analyses by the following methods:

  • ME-ICP61: A high precision, multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids. Analysed by inductively coupled plasma (“ICP”) mass spectrometry 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 elevated levels of Co, Cu, Ni and Ag.

Certified standards are inserted into sample batches by ALS. Blanks and duplicates are inserted within each analytical run. The blank is inserted at the beginning, certified standards are inserted at random intervals, and duplicates are analysed at the end of the batch.

Additional Information

Michael Schuler, Battery Mineral Resources Corp. Chile Exploration Manager, supervised the preparation of and approved the scientific and technical information in this press release pertaining to the Punitaqui Exploration Drill Program. Mr. Schuler is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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”. Further information about BMR and its projects can be found on www.bmrcorp.com.

For further information, please contact:

Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: [email protected]

Mars Investor Relations
+1 604-335-1976 [email protected]
Twitter: @BMRcorp_
www.bmrcorp.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

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, are based upon several 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 because of added information or future events or otherwise, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127098









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