Battery Metals

Brunswick Exploration Inc. (TSX-V:BRW)

Brunswick Exploration Increases Position in James Bay With PLEX Project Option


Brunswick Exploration Inc.(TSX-V:BRW; “BRW” or the “Company”) is pleased to announce it has expanded its recently signed option agreement with Osisko Development Corp. (TSX-V: ODV) to also acquire a 90% interest in the PLEX Project (the “Project located in the James Bay-Eeyou Istchee region of Quebec, which is located along the same fault structure that hosts Patriot Battery Metals’ Corvette lithium project.

Mr. Killian Charles, President of BRW, commented: “I am very pleased to cement Brunswick Exploration’s position within the La Grande Greenstone belt, host to Patriot Battery Metals’ Corvette Lithium project. The addition of the PLEX Project, alongside the previously-announced Mythril option with Midland, strategically positions the Company as PLEX covers a portion of the La Grande shear zone, which contains the entire Corvette lithium trend. Furthermore, with today’s announcement, our James Bay portfolio of properties now includes over 200 untested S-type pegmatites with a minimum 600 metres strike length. We will continue to grow our portfolio in James Bay and across Canada to further increase our chances of making significant lithium discoveries.”

The PLEX Project package contains a total of 375 claims, representing 19,175 hectares (192 sq. km.). The property is accessible year-round and located near the Trans-Taiga highway, providing access to the La Grande-4 hydroelectric complex. The Project is situated approximately 75 km west of Patriot Battery Metals’ Project, along the La Grande shear zone which is host to the entire Corvette lithium trend. Compilation work by BRW has identified over 100 individual pegmatite outcrops and numerous pegmatite dykes on the Project of varying length, including one pegmatite dyke measuring 1.7 kilometres strike length. The latter was intersected in multiple drill holes by previous gold explorers between 2007 and 2014 but was only superficially described in drill logs and not assayed for Lithium-Cesium-Tantalum mineralization; the longest drill intersection of pegmatite measured 103 meters in length (MRNF assessment files GM 63465 and GM 68914).

The Project has historically never been explored for lithium mineralization. BRW intends to launch a regional prospecting campaign in late Q2 2023 to explore both the PLEX and Mythril Projects and multiple other smaller BRW claim packages located in the northern half of the James Bay-Eeyou Istchee region. The campaign will include sampling and analysis of pegmatite from recovered drill core on the PLEX Project and will likely lead to more follow-up trenching and/or drilling beyond BRW’s current exploration program for 2023.

ODEV Expanded Option Agreement

The expanded Option allows BRW to acquire a 90% interest in the Project for a total consideration of 8,000,000 shares over a two-year period, upon closing of the option agreement (the “Agreement”) under the following terms:

  • An initial payment of 1,000,000 shares, within five (5) business days of the Effective Date of the Agreement;
  • A payment of 3,000,000 shares, on or before the 1st year anniversary of the Effective Date of the Agreement;
  • A payment of 4,000,000 shares, on or before the 2nd year anniversary of the Effective Date of the Agreement.

In order to exercise the Option; Brunswick Exploration shall fund an aggregate amount of $6,000,000 in Work Expenditures in accordance with the following schedule:

  • An aggregate of $1,000,000 before the 1st year anniversary of the Effective Date;
  • An aggregate of $2,000,000 before the 2nd year anniversary of the Effective Date;
  • An aggregate of $4,000,000 before the 3rd year anniversary of the Effective Date;
  • An aggregate of $6,000,000 before the 4th year anniversary of the Effective Date.

Upon execution of the Option, BRW will retain a right of first refusal on ODEV’s 10% ownership. Furthermore, ODEV will not be expected to fund its pro-rata share of the exploration budget following the exercise of the Option until the construction of a mine.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. Jeff Hussey, Director of Brunswick Exploration. He is a Professional Geologist registered in Quebec.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under the symbol BRW. The Company is focused on grassroots exploration for hard rock lithium deposits in Eastern Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Eastern Canada with holdings in Quebec, Ontario, New Brunswick and Newfoundland.

Investor Relations/information

Mr. Killian Charles, President (info@BRWexplo.com)

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the 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 news release.

BRW:TCM
Brunswick Exploration Logo

Brunswick Exploration


Keep reading...Show less
Brunswick Exploration Inc. Invites Shareholders and Investment Community to Visit Us at Booth 405 at the VRIC in Vancouver, January 29-30 2023

Brunswick Exploration Inc. Invites Shareholders and Investment Community to Visit Us at Booth 405 at the VRIC in Vancouver, January 29-30 2023

Brunswick Exploration Inc. (TSXV: BRW) would like to cordially invite you to visit us at Booth #405 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 29 - Monday January 30, 2023.

Notable keynote speakers include former Premier of BC Christy Clark and former Premier of Saskatchewan, Brad Wall. Other keynote speakers will include dozens of globally respected economists, legendary money managers, and investors.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
nunavut flag

Gold Mining in Nunavut: Tapping into Canada's Frontier Mining Jurisdiction

As Canada's last frontier for mineral exploration, Nunavut is also one of the most promising. Covering an area roughly the size of Western Europe, the region is incredibly rich in mineral resources, including iron ore, diamonds and oil and gas, plus a wealth of critical minerals.

In addition to this impressive mineral inventory, gold is arguably Nunavut's greatest mineral resource. Along with two current producing gold mines, the territory hosts multiple gold deposits at various stages of exploration, construction and development.

One of the most promising regions for gold exploration and discovery in Nunavut sits proximal to the Rankin Inlet. Primarily, this promise is because it hosts Canada's second largest greenstone belt — geologic formations known for having incredibly rich deposits of gold. Significant exploration and discovery has already occurred in this area, yielding both valuable data and improved geological models that can be leveraged by newcomers to the area.

Keep reading...Show less

B2Gold Targets 30% Reduction in GHG Emissions by 2030 and Announces Expansion of the Fekola Solar Plant

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that the Company has set a target to reduce its Scope 1 and 2 greenhouse gas ("GHG") emissions by 30% by 2030 against a 2021 baseline.

As a Company, B2Gold recognizes that climate change is a critical global challenge and understands that it must act accordingly. B2Gold has been an innovative leader within the mining industry with respect to the management of sustainability issues and this commitment to GHG emissions reduction forms a key part of our Climate Strategy, incorporating climate management as a part of its business strategy and planning process.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Mink Ventures' Exploration Progress from Its Montcalm Ni-Cu-Co Project

Mink Ventures' Exploration Progress from Its Montcalm Ni-Cu-Co Project

Mink Ventures Corporation (TSXV: MINK) ("Mink" or the "Company") today announced an exploration progress update from its 40 km2 Montcalm nickel copper cobalt project, located adjacent to Glencore's historical Montcalm Mine, 65 km northwest of Timmins, Ontario. The Montcalm Mine had historical production of approximately 3.93 million tonnes of ore grading 1.25% Ni, 0.67% Cu and 0.051% Co. (Ontario Geological Survey, Atkinson, 2010). In just over two weeks since beginning its exploration program, the Company has completed the following at its Montcalm Project (see accompanying Fig.2).

  • Completed multiple, borehole induced polarization (IP) surveys, as well as cross hole configurations, within the western portion of the Hook Zone, on five, priority, historical drill holes where unexplained electromagnetic (EM) targets remain relevant. The new, advanced borehole IP technology being utilized here can seek for a 250-meter radius around a borehole and deeper still from the bottom of a hole for both massive and disseminated targets and model these zones in 3D.
  • Outlined a number of significant targets of interest from the preliminary field data from the borehole IP survey. The field portion of the borehole surveying will be completed within the week and more detailed processing of the data will continue to prioritize targets for Mink's diamond drill program.
  • Applied to the Ontario Government's Critical Minerals Innovation Fund for a non-dilutive, $200,000 grant to build upon the success of Mink's Phase 1, proof-of-concept borehole IP survey, with a Phase 2 and Phase 3 survey program within or proximal to the Hook Zone. These surveys can seek massive and disseminated mineralization cost-effectively and will continue to be an important new exploration tool at Montcalm.
  • Mobilized a line-cutting and surface IP crew to evaluate the Southern Target Area of the project. A number of untested historical EM targets and magnetic anomalies identified by previous operators and government surveys will be the focus of this program and will better refine these targets for drill testing. The surface IP survey will begin immediately once the borehole IP work to the north is completed and will help refine and prioritize these targets.
  • Secured a diamond drill contractor for a phase 1 drill program which will follow in late February upon the completion of the geophysical surveys.

Significant advances in IP geophysical technology have enabled deeper penetrating systems with incredible clarity. The new IP systems allow for the production of 3D geophysical models of mineralized zones. Mink is benefitting from the work of previous operators who left numerous EM targets unexplained or untested in historical holes; these holes can now be probed with the new borehole IP technology. Borehole IP systems now have the capability to see a 250 meters radius around a bore hole and significantly below the end of the drill hole, which is an extremely cost-effective way of evaluating both disseminated and more massive targets at depth. The deepest known Ni Cu Co lenses at the Montcalm Mine are known to extend from approximately 250 to 400 meters vertical depth, which is well beyond the capability of many older surface EM systems.

Keep reading...Show less
Abcourt Mines

Abcourt Files The Mineral Resource Update Technical Report For The Sleeping Giant Mine

Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX Venture: ABI)is pleased to announce that it has filed the Mineral Resources Estimate (MRE) technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) on its 100% owned Sleeping Giant Mine. The technical report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Sleeping Giant Mine, Quebec, Canada” and dated January 25, 2023 (with an effective date of December 12, 2022) has been prepared for Abcourt by the firm InnovExplo from Val-d’Or. The technical report is available on SEDAR (www.sedar.com) under Abcourt’s issuer profile.

Keep reading...Show less
Titan Minerals

Quarterly Activities Report For The Period Ending 31 December 2022

Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide a summary of its activities for the three month period ending 31 December 2022. The Company has made significant advances on exploration work programs at its Dynasty, Linderos and Copper Duke Projects in southern Ecuador, where several high priority targets have been identified and are being prioritised for drill testing in 2023.
Keep reading...Show less
two bars of gold and two bars of silver

Australia Precious Metals Price Forecast: Top Trends for 2023

The precious metals sector was able to make some gains in 2022 despite broad uncertainty, which eroded market momentum and sentiment.

Three of the four categories (gold, silver and platinum) posted an uptick for the calendar year, while palladium shed 7.6 percent over the 12 month period. An ongoing semiconductor chip shortage in the auto sector weighed on the metal’s demand fundamentals, impeding growth.

The role Russia plays in the palladium market also infused volatility into the sector and led to increased substitution for platinum.

Keep reading...Show less

Latest Press Releases

Related News

×