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Developing a High-Grade Battery Metals property portfolio in Quebec, Coniagas aims to advance these properties towards production
Vancouver, BC TheNewswire - March 25, 2024 Coniagas Battery Metals Inc. (TSXV: COS) ("Coniagas" or the "Company") a leading junior exploration company focused on battery metals, proudly announces its strategic acquisition of key ground near SOQUEM's Cardinal Property, situated 80 km southeast of Chibougamau, Quebec. This significant move underscores Coniagas' commitment to capitalizing on high-grade copper-nickel-cobalt-platinum group elements (Cu-Ni-Co-PGE) deposits in the region.
Coniagas has staked a total of 28.3 square kilometers of ground in multiple packages. The new package contains 531 claims for 28,397 hectares. This new property package is now dubbed Dartagnan. There is highway access to the southern part of Dartagnan as well as a network of logging roads providing access to other parts. See map below. Not only is there good access but there is a power corridor leading to Chibougamau running through Dartagnan South. We are committed to developing properties with good infrastructure in the world leading mining jurisdiction of Quebec.
SOQUEM, a recognized leader in mineral exploration in Quebec, has reported impressive grades from their Richelieu and Edgar zones. Notable drill highlights include grades of up to 0.92% copper, 0.73% nickel, 0.11% cobalt, along with 0.56 g/t platinum, 0.46 g/t palladium, and 0.11 g/t gold values over an impressive 25.3m starting at downhole depth 130.7m (drill hole 1438-23-009 from SOQUEM press release March 1, 2024), affirming the rich mineral potential of the area. The Edgar zone reporting similar grades over 1.9m much shallower starting downhole depth of 67.2m.
By strategically staking ground adjacent to SOQUEM's Cardinal Property, Coniagas has leveraged local prospectors' expertise and regional geological data, including magnetic features and lake sediment samples with anomalous base metals. This proactive approach underscores Coniagas' dedication to identifying and securing promising exploration targets with the potential for significant mineralization.
Frank J. Basa, CEO of Coniagas Battery Metals, commented, "The SOQUEM copper, nickel and cobalt grades and widths are excellent; we are really excited to move into the area. The added benefit of the strong PGE/Au component will definitely drive value."
Coniagas Battery Metals is poised to expand aggressively on its flagship property, Graal, with a focus on becoming the premier junior explorer for Cu-Ni-Co-PGE deposits in Quebec. This strategic acquisition aligns with Coniagas' overarching goal of acquiring and developing high-quality, high-grade properties in the region, thereby solidifying its position as a leading player in the battery metals exploration sector.
Coniagas wishes to thank Laurentian Exploration of Jonquiere, Quebec for assisting with the Dartagnan acquisition.
For more information on Coniagas Battery Metals and its exploration projects, please visit https://coniagas.com/
Figure 1: Coniagas' Dartagnan and SOQUEM's Cardinal properties
Qualified Person
The technical information in this news release was reviewed and approved by Claude Duplessis, P.Eng. Quebec, of GoldMinds Geoservices Inc., who is a Qualified Person in accordance with National Instrument 43-101.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company focused on nickel, copper and cobalt and platinum group metals in Québec. Coniagas' strategy is to create value for shareholders through the development of its mineral properties, with the intention to develop Coniagas into a critical metals supplier to the electric vehicle (EV) market.
At its 100% owned Graal project near Saguenay, Quebec, Coniagas has conducted successful exploration involving geophysics as well as shallow drilling that hit mineralization in almost every hole. It has confirmed an open-pit deposit model at Graal along a 6 km strike length of high-grade nickel and copper with cobalt, platinum and palladium byproducts. The Company plans in the near-term to conduct additional drilling leading to the production of a Ni 43-101 resource report, metallurgical testing and consultations with First Nations. The Graal project and immediate work plan are outlined in detail in the "NI 43-101 Technical Report Graal Nickel & Copper Project, Saguenay-Lac-St-Jean, Quebec, Canada" dated January 17, 2024. The report is available along with other information at the Company's website https://coniagas.com/
"Frank J. Basa"
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: waynecheveldayoff@gmail.com
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Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. ("Coniagas" or the "Company") which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address the Coniagas trading on the TSX Venture Exchange, resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. The Company does not undertake to update any forward-looking information in this news release or other communications unless required by law.
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