The Conversation (0)
(NewsDirect)
Battery Mineral Resources Corp. ( TSXV: BMR ) ( OTCQB: BTRMF ) (" Battery " or " BMR " or the " Company ") is very pleased to announce that it has completed agreements with the Comunidad Agricola Potrerillos Alto (" Potrerillos Community ") and the Comunidad Agricola Punitaqui (" Punitaqui Community ").
The Potrerillos Community is nearest in proximity to BMR's Cinabrio mine assets and the agreement will allow for surface exploration consisting of a ground magnetic survey, geological mapping, and sampling to identify potential new targets on grounds for which the Potrerillos Community has surface rights to. The agreement gives BMR personnel and its contractors the permission to access and conduct agreed upon surface work. The agreement also allows BMR to drill the potential targets to be defined within the first stage of exploration. These areas to be explored have not been previously examined, and ground magnetic surveys have been successfully used in the area as a first step to locating possible new target mineralization. Battery will hire members of the Potrerillos Community to assist in these endeavours at market rates of remuneration. BMR will now be able to follow up on any encouraging exploration results.
To support aid and improve the local community, BMR has also agreed to fund the construction of a water well for the people of Potrerillos. The well will directly benefit the people of Potrerillos for many years to come. Water sourced from this new well will be solely for members of the community for personal usage, replacing the current situation of water being trucked in to supply their community water reservoir. This new well will not only increase the amount of available water, but also lower the costs by eliminating the trucking of water that is currently taking place.
In addition to these new endeavours, BMR will continue to support the payment for the services of the individual in charge of the school nursery of the Cordillera de Potrerillos Alto School as it has been doing since September 2022.
BMR is in the process of establishing a community engagement and meeting office at the Punitaqui copper processing plant site to be staffed by individuals at the expense of the Company. The office will allow for all persons in the direct area of influence of our operations to liaise in-person with Battery, at their convenience. The company hopes to have this new office in place in the coming weeks.
Other Agreements and Community Items
As previously reported, BMR has been working closely with Integratio Mediação Social e Sustentabilidade (" Integratio "), a socio-environmental management, strategic relationship, and stakeholder engagement consultant group operating for over 17 years and based in Belo Horizonte, Brazil. Integratio and BMR have jointly completed a policy and strategy report that includes guidelines and standards for future social and community engagement and reporting. This policy is the foundation for positive, proactive, and mutually beneficial engagement and partnership with the local communities.
In addition, the company has agreements in place with the Punitaqui Community for surface right access to the Punitaqui copper processing plant and tailings areas and also the Dalmacia copper deposit to the south. Further to these surface rights agreements, BMR has agreed to a specific schedule with the municipality of Punitaqui regarding ore haulage from Cinabrio to Punitaqui copper processing plant. Out of an abundance of caution and for the safety of all concerned, the company agreed to limit the ore haulage from the Cinabrio and San Andres deposits to our Punitaqui copper processing plant to certain hours of the day and evening, and to reduce the frequency of trucking prior to and after school hours to minimize traffic in the area. This agreement was accomplished in collaboration with both the Chilean Environment Assessment Service (" SEA ") and the people of the Punitaqui Community during the submission of the Company's Environmental Impact Declaration (" DIA ").
Battery CEO Martin Kostuik states: "We are delighted to have reached these mutually beneficial agreements with both the communities of Potrerillos and Punitaqui. The agreement with the community of Potrerillos emphasises the strong regard we have for our neighbours nearest the Cinabrio mine complex and our commitment toengage constructively with all the Company's stakeholders. This agreement will also allow BMR to potentially discover new mineralized areas on our claims near the Cinabrio mine complex. The agreement with the Punitaqui Community is very important because it succinctly addresses their main concerns surrounding the re-start of operations at Punitaqui. BMR strives to develop productive, ethical, and transparent relationships with our surrounding communities, and we view it as our duty to our shareholders and communities to promote sustainable growth supported by safe, and socially responsible business practices while developing long-term resources. We look forward to greatly advancing our relationships with the people of Potrerillos and Punitaqui as we continue working diligently to restart our Punitaqui copper mine in the coming months of early 2023."
Details of the Agreement with Potrerillos
To complete the geological tasks described above, the company will have a period of up to 12 weeks from the commencement of work. In addition to the surface geological work to be completed by BMR on the ground held by the Potrerillos Community, the Company funding is specifically for the exclusive construction of a well for the collection of groundwater for the use of the Potrerillos Community. The construction and operation of the well will be at the exclusive expense and risk of the Potrerillos Community.
Upon completion of the exploration work described above, BMR shall identify an area of interest within the Potrerillos Community land, which will be the subject of a possible lease for the purpose of continuing the exploration work. The Potrerillos Community shall assess the proposed area and may exclude parts of the land selected by BMR, which shall accept the exclusion of the areas designated by the Community. Once the surface area of interest has been agreed upon, the parties will sign a surface rights contract with a rental price per hectare, for each year of lease. The lease term will allow for five years for BMR to carry out exploration work and rent will be paid monthly. At the time of signing the lease, BMR will pay advance rent. This advance will be deducted from the monthly rent resulting from applying the value of the annual rent by the final number of hectares that BMR will require. The Community will allocate the upfront payment to the purchase of equipment for the water well referred to above.
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. Battery Mineral's mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, 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 currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold producer, in the Coquimbo region of Chile. 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. (including ESI's wholly owned USA operating subsidiary, Ozzie's, Inc.), a profitable mainline pipeline and renewable energy 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 more information, please contact:
Martin Kostuik, CEO
Phone: +1 (604) 229 3830
Mars Investor Relations
Phone: +1 (604) 335-1976
Harbor Access Corp.
Phone: 475-477-9402
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 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, the ability of the Company to secure the Advances under the Loan Agreement, timing of the completion of the Company's audit, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, 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.
Contact Details
Martin Kostuik, CEO
+1 604-229-3830
Company Website
Copyright (c) 2023 TheNewswire - All rights reserved.
181,057,000 € 20%-30% 40-50% 30% Figure 1 – Financing Plan and Structure