September 2023 Quarterly Activities Report

Balkan Mining and Minerals Ltd ("BMM" or "the Company") (ASX: BMM) provides the Company’s quarterly activities report for the three months ended 30 September 2023 (“Quarter”).

Grassroots field work sets the stage for maiden diamond drilling program currently underway at the highly prospective Nelson and Koshman Pegmatite Prospects within the Gorge Lithium Project in Ontario, Canada. Key strategic and operational milestones were achieved during the quarter, outlined below.

HIGHLIGHTS

• Diamond drilling at the Gorge Lithium Project, with upscaled capacity for a 3,000m funded program
• Spodumene bearing pegmatites encountered in the first hole drilled, with assays pending
• Clearing and stripping work undertaken in preparation for the drill program reveals previously unmapped pegmatites, enhancing the Gorge Project prospectivity and underscoring the under-explored nature of the project
• Soil sampling reveals anomalous lithium at surface
• Capital raising completed during September quarter enables funding of current drill program, with additional investment from Non-Executive Director, Mr Karl Simich
• North American critical minerals projects remain essential to the energy transition in the USA & Canada

Balkan Mining and Minerals, Managing Director, Ross Cotton commented:

“We are at an extremely exciting stage with current drilling activity at our flagship Gorge Lithium Project in Ontario, Canada likely to provide vital information about the potential for the project to become a company-maker for Balkan.

I wish to extend my gratitude to our exploration team who are working diligently to achieve a valuable outcome for shareholders via success at the drill-bit.

We are very hopeful that the pegmatite occurrences we see at surface at Nelson and Koshman, and indeed across the broader project area will provide the geological answer to the question of why we have identified lithium in soils at Gorge.

With a great deal of preliminary work under our belts, we believe we are drilling in highly prospective areas and have been greatly encouraged by the visual evidence from drilling to date. The team looks forward to updating shareholders as new information comes to hand."

Click here for the full ASX Release

This article includes content from Balkan Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.