Bathurst Metals Corp. 2021 McGregor Lake and Speers Lake Assay Results

(TheNewswire)

 

Bathurst Metal Corp. (TSXV:BMV ) ( OTC:BMVVF) (" Bathurst " or the " Company ") is pleased to announce the company has received  final assay results from the summer 2021 field exploration work on the Copper NickelCobaltPalladiumPlatinum McGregor Lake and Speers Lake properties in western Nunavut . The Company's 100% owned property consists of 12 mineral claims covering 14,584.24 hectares. The properties are approximately 100 km south of Kugluktuk in the Kitikmeot District of western Nunavut, Canada. These properties are considered to host layered disseminated to semi-massive sulphide primary mineralization and secondarily, structurally controlled, massive sulphides

  Rock sampling some of the numerous gossans along the contact of a Proterozoic, ultramafic intrusive with Archean Age, metasediments has located high-grade copper, nickel and Palladium mineralization. As well, high concentrations of cobalt and platinum were also obtained. Highlights of Assay Results from the 2021 Summer Program from each area examined are enclosed below in Table # 1. Tables of each of the areas sampled and mapped are also posted within this release.  

  Table # 1 Highlights of Assay Results  

  Hardy   Forzley, Chief Executive Officer of Bathurst Metals commented: "Our geological staff was able to confirm historical results but more importantly advance the structural setting of the known higher-grade mineralization. These properties have geological, structural and mineralogical similarities to and scale of the world class   Norilsk-Talnakh   deposits in northern Russia."  

Purpose of 2021 Field Program

  The purpose of the 2021 summer exploration program was to enable Bathurst to better understand the project's potential economics by undertaking   s   tructural mapping on cross cutting Proterozoic Age structures, the company employed three senior geologists to work on the project including Dr. Guowei Zhang, Ph.D., P.Geo. specialist in structural analysis. The team performed geologic mapping of potential favorable host basement assemblages, located historic drill hole collar locations and systematically sampled mineralization along the Archean basement and ultramafic intrusive complex contact. Based on the 2021 results, the company is evaluating the use of additional geophysical techniques to further   develop the structural setting of mineralization prior to drilling.  

   Discussion on 2021 Program Results   

   Dr. Zhang was able to locate steeply dipping, generally east-west trending structures in the areas of known higher grade copper/nickel/cobalt/platinum and palladium mineralization. These structures are interpreted to be conduits for the remobilization of the mineralization and subsequent entrapment along the Proterozoic, ultramafic intrusive/Archean Age, metasedimentary contact.   

   Previous work and Dr. Zhang's recent studies support the concept that t    he property shares a similar scale, geology and known mineralization style to the   Norilsk-Talnakh   in northern Russia   , the largest-known nickel-copper-palladium deposit in the world.   The two main ore types developed at Norilsk and Talnakh are   disseminated sulphides   within the differentiated gabbro-dolerite sills, principally on the lower margins of the mineralized zone where they occur as droplets forming sheet like conformable bodies up to 40 m thick. Grades there average 0.5 to 0.6% Ni, 0.6 to 0.7% Cu, and 5 to 6 g/t PGE. Secondly, there are m   assive sulphides   found principally on the lower contact of the mineralized sills, both within the enclosing rocks and to a lesser degree within the sill and are often separated from the sill by several metres of barren sediment or cupriferous mineralization. Sometimes massive sulfides are also found on the upper margin of the sill. In other locations the massive sulphides cut across the sill to its upper margins. Grades vary drastically with the sulphide assemblage but are of the order of 2.8% Ni, 5.6% Cu and 15 g/t PGE. At Norilsk there is evidence that the massive sulphides post date the disseminated sulphides. The total production + resource in the Noril'sk-Talnakh district are quoted by Naldrett (2004) at: 1.309 Gt @ 1.77% Ni, 3.57% Cu, 0.061% Co, 9.5 g/t PGE (including 1.84 g/t Pt, 7.31 g/t Pd).  

  The Company's 2021 a    ssay results confirmed historic results and a significant number of historic drill collars were located and surveyed.   

   The enclosed Figure # 1 diagram outlines the areas rock sampled and structurally mapped during the 2021 field season. These areas were selected based on historical assay results and the outcrop exposures enabling the structural studies.   

   Figure # 1 – Location Map of Areas Sampled   

     
Click Image To View Full Size   

   Discussion on Areas Sampled   

  Speers Lake Area  

  Sampling was restricted to outcrops along the ultramafic intrusive/meta-sediment contact as most of the intrusive does not outcrop. Sampling consisted of grab samples where mineralization was observed.   Not previously recorded are the high concentrations of cobalt associated with the copper and nickel mineralization.   Table # 2 lists the grab sample results from the 2021 program.  

Table # 2 Speers Lake – 2021 Rock Sample Results  

  Listed below are some of the more significant precious and base metal assay results from historical geochemical rock sampling and diamond drilling.  

Historical Rock Geochemistry – Grab Samples

  Historical Diamond Drilling   – Diamond Drill Hole 87-S10 Assay Results  

*Thickness is core length; true width is unknown.

  Figure # 2 provides the historic surface sample locations and results and shows the company's current mineral claims.  

  Figure # 2 Historic Pt+Pd+Au Rock Sample Results on McGregor Lake Property  

    
Click Image To View Full Size  

  *Thickness is core or chip sample length; true width is unknown.  

  Tables 3 to 8 below outline all the samples collected in 2021 from the East Pump Lake, West Margin, Funnel, South Pyrrhotite Lake, East Pyrrhotite Lake and Vale Areas respectively. These areas are outlined in Figure #1. Assay results from these tables indicate a positive correlation between Nickel and Cobalt and Palladium with Copper.  

  Table # 3 - East Pump Lake

Table # 4 - West Margin

  Table # 5 Funnel Area

Table # 6 - South Pyrrhotite Lake

  Table # 7 - East Pyrrhotite Lake

Table # 8 - Val Area

  Historic Exploration Drilling Programs  

The companies' project covers the southern exposure of the Proterozoic, Layered Muskox Ultramafic Intrusive (LMUI). The LMUI outcrops over 80 kilometers along strike and could be one of the largest layered, ultramafic complexes in the world based on regional airborne surveys. The region has received only sporadic, systematic exploration since its first discovery and exploration by Inco in the late 1950's. Additional systematic exploration was not conducted again until the 1980's and in 1999 to 2007. Several rounds of geochemical, geophysical, geological mapping and limited diamond drilling have been undertaken on the property. These studies have been able to define at least two sulphide pulses associated with the emplacement of the LMUI. These pulses both contain high nickel and copper concentrations with associated precious metals (see November 12, 2020 news release).

   Stratiform, layered mineralization is known to occur in one of the early pulses of magma from the ultramafic, layered intrusive complex. Mineralization in the form of pyrrhotite, pentlandite, chalcopyrite are the more common minerals observed. Concentrations of Copper, Nickel, Platinum, Palladium, and Cobalt occur within this horizon that extends for over 40 kilometres.    Key evidence and similarities to Norilsk indicate the massive sulphide mineralization is a later event than the disseminated mineralization at McGregor Lake and the mineralization appears to be occurring in near vertical structures. Exploration of the massive sulphides in previous drilling programs on the property has been predominantly vertical holes, therefore difficult to properly evaluate.  

   Remobilized mineralization is also present and might have occurred due to the emplacement of later Proterozoic diabase dykes. Below in Table # 9 are some of the more significant, historical precious metal assay results from surface rock sampling. Exceptionally high, precious metals values for primary layered intrusive style mineralization. Previous exploration programs focused on primary mineralization, with no consideration towards secondary remobilization and precious metal enrichments along known, steeply dipping structures.   

   Table # 9 Historical Assays   

  Quality Assurance/Quality Control Rock Samples  

  All rock samples were collected by professional geoscientists. Samples were placed in plastic sample bags with samples tags placed in each bag before being sealed. Samples were transported to the field camp site and later to the ALS sample preparation facility in Yellowknife under the supervision of a professional geoscientist. The Yellowknife sample preparation laboratory crushed and pulverized samples then used a riffle splitter to obtain up to 85 per cent of a 250-gram sample passing through 75-micrometre screen. The pulverized samples were then securely transported to their laboratory in Vancouver and analyzed using procedure ME MS41 (ultra trace aqua regia ICP-MS (inductively coupled plasma mass spectrometry)) followed by a four acid digestion procedure (ME-062 ICP-AES for ore grade elements and finally an Ni-OG62 procedure for higher grade nickel.  

Qualified Person

  Lorne   Warner,   P.Geo,   is   a   qualified   person   as   defined   by   National   Instrument   43-101   and   has   reviewed   and   approved   the   scientific   and   technical   disclosure   in   this   news   release.  

  On   behalf   of   the   Board   of   Directors  

  "Harold   Forzley"   CEO   Bathurst   M   etals   Corp.  

  For   more   information   contact   Harold   Forzley,   CEO  

hardy@bathurstmetals.com

  Neither   TSX Venture   Exchange   nor   its   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.  

  Forward Looking   Statements  

  Certain   of   the   statements   made   and   information   contained   herein   may   contain   forward-   looking   information   within   the   meaning   of   applicable   Canadian   securities   laws.   Forward-looking   information   includes,   but   is   not   limited   to,   information   concerning   the   Company's   intentions   with   respect   to   the   development   of   its   mineral   properties.   Forward-looking   information   is   based   on   the   views,   opinions,   intentions   and   estimates   of   management   at   the   date   the   information   is   made,   and   is   based   on   a   number   of   assumptions   and   subject   to   a   variety   of   risks   and   uncertainties   and   other   factors   that   could   cause   actual   events   or   results   to   differ   materially   from   those   anticipated   or   projected   in   the   forward-looking   information   (including   the   actions   of   other   parties   who   have   agreed   to   do   certain   things   and   the   approval   of   certain   regulatory   bodies).   Many   of   these   assumptions   are   based   on   factors   and   events   that   are   not   within   the   control   of   the   Company   and   there   is   no   assurance   they   will   prove   to   be   correct.   There   can   be   no   assurance   that   forward-looking   information   will   prove   to   be   accurate,   as   actual   results   and   future   events   could   differ   materially   from   those   anticipated   in   such   information.   The   Company   undertakes   no   obligation   to   update   forward-looking   information   if   circumstances   or   management's   estimates   or   opinions   should   change   except   as   required   by   applicable   securities   laws,   or   to   comment   on   analyses,   expectations   or   statements   made   by   third   parties   in   respect   of   the   Company,   its   financial   or   operating   results   or   its   securities.   The   reader   is   cautioned   not   to   place   undue   reliance   on   forward-looking   information.  

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