Base Metals

Battery Mineral Resources Corp. is pleased to announce encouraging drill core assay results from the on-going 2021 exploration and in-fill drill program at the Cinabrio, Dalmacia and San Andres targets within the Punitaqui mine complex in Chile. Punitaqui is slated for resumption of copper concentrate production in mid to late-2022. Dalmacia is located in the southern portion of the Punitaqui area about 6 kilometers ...

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce encouraging drill core assay results from the on-going 2021 exploration and in-fill drill program at the Cinabrio, Dalmacia and San Andres targets within the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of copper concentrate production in mid to late-2022.

Dalmacia is located in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui copper processing plant. The San Andres target is located 500 meters west of the Cinabrio mine while the Cinabrio Norte and Cinabrio Sur targets represent potential extensions of the Cinabrio orebody to the north and south. (see Figure 1 and Figure 2).

Highlights

At Dalmacia, a total of 5,346 meters in 27 holes completed and drilling continues. New assay results include the following drillholes:

    • DS-21-04: 6 meters ("m") grading 0.71% Copper ("Cu") including 4.0m at 0.87% Cu, and 13m at 0.64% Cu including 2m at 1.24% Cu;
    • DS-21-05: 6m at 1.16% Cu;
    • DS-21-07: 33m at 1.77% Cu, including intervals of 9.0m at 3.44% Cu, and 7.0m at 2.54% Cu, and 10m at 0.84% Cu, and 6m at 2.19% Cu.
  • At San Andres, the Phase 1 program resulted in the completion of 8,156m of drilling in 38 holes. All samples have been dispatched for analysis with assay results pending for the final six holes. An update of the 3D geological model is being completed which will be followed by a resource estimate by JDS Energy and Mining. New assay results include the following drillholes:
    • SAS-21-27: 11m at 2.16% Cu;
    • SAS-21-29: 16m at 1.49% Cu;
    • SAS-21-30: 5m at 1.39% Cu including 3.0m at 1.89% Cu.
  • At Cinabrio Norte, nine holes have been completed for 1,443m and drilling is ongoing. This initial program is planned as 18 holes totaling 3,000m which will test 400m of strike length to a depth of 200m. Visual copper mineralization has been recorded in six of the first nine holes. Nine holes have been sampled and dispatched for analysis and results are awaited.
  • At Cinabrio Sur, 860m in eight holes have been completed. This drilling targeted the immediate southern extensions of the Cinabrio mine orebody just beyond the workings on the 440m level and progressively moved to the south. An additional 200m in four holes of drilling is planned as a follow-up program. Initial assay results include the following drillholes:
    • CNV-21-02: 14.3m at 0.98% Cu including 10m at 1.17% Cu;
    • CNV-21-03: 2.0m at 0.65% Cu;
    • CNV-21-07: 6m at 1.73% Cu.
  • The main Cinabrio mine orebody, which historically was a source of ore feed to the Punitaqui ore concentration plant for eight-plus years, is currently being re-assessed with an update of the geological model to be followed by an update of the resource potential.

Battery CEO, Martin Kostuik states; "Our recent acquisition of the former producing Punitaqui copper mine in Chile will give our investors an opportunity to participate in a potentially significant re-rating in BMR's valuation as we transition from development to operations and positive cash-flowing.
The development of Punitaqui towards a restart is progressing well on all fronts such as drilling, engineering and permit modifications and we look forward to presenting the restart plan for the mine.
In addition, as the drilling program progresses across the various mineralized zones, we are excited about these latest assay results for Dalmacia and San Andres as well as the providing an update on the drilling at Cinabrio Norte and Cinabrio Sur.
This program has the potential to provide the Company with multiple sources of copper mineralization as ore feed for the Punitaqui processing plant. We look forward to providing further exciting updates for the drill program as we progress towards a potential near term resumption of operations and cashflow at Punitaqui."

Punitaqui Copper Mine

Punitaqui is a former producing copper mine located in the Coquimbo region of Chile with an eight-plus year operating history within which produced up to 25 million pounds of copper in concentrate annually. Punitaqui was recently acquired by BMR via a private placement equity financing announced on July 13, 2021. BMR began developing the project immediately by initiating a drilling program, operating and environmental permit modifications and engineering studies.

Dalmacia Drill Program

The Dalmacia target is located in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui processing plant (see Figure 1). The first drilling occurred in 1993-1994 when 49 reverse circulation ("RC") holes totaling 9,972m were completed. Historic exploration drilling at Dalmacia North has been completed at a grid spacing of 25m x 25m and 15m x 15m at Dalmacia South. Prior to the 2021 program, 229 drill holes (98 RC holes and 131 diamond core holes) have been drilled for a total of 53,294m.

The geological setting of the Dalmacia target is different from both the Cinabrio orebody and San Andres target which are located 20 kilometers to the north. Dalmacia is situated within a roof-pendant of volcanic rocks, with minor calcareous intercalations of Middle to Upper Jurassic age. This volcano-sedimentary complex is intruded by younger aged granites located in a reverse fault.

Copper-gold mineralization is related to regional structures and deformation zones, developed mainly in the contacts between granite and volcano-sedimentary rocks

The upper portion of the Dalmacia target is accessed via a portal and a limited underground ramp and level development.

The current Phase 1 drill program is designed to infill and confirm the continuity of mineralization between previous drilling and includes a series of step-out holes to test the potential adjacent to the main zone of copper-gold-silver mineralization as defined by historic drilling.

To date, a total of 5,346 meters in 27 holes completed with an additional 500m of infill and step out drilling is planned to complete the Phase 1 program (see Figure 3).

Complete assay results were recently received for holes DS-21-04, DS-21-05 and DS-21-07.

Drillhole DS-21-04 was designed as an infill hole to test the up-dip and northern extent of the mineralization intersected in historic hole DAL-18. The new hole intersected two significant mineralized zones that included 6.0m at 0.71% Cu, 0.9g/t Ag and 0.012g/t Au from 70m downhole and 13m at 0.64% Cu and 0.9g/t Ag from 89m.

Drillhole DS-21-05 was planned as a step-out hole to test the northeastern continuation of the mineralized zone as delineated by multiple significant copper intersections immediately to the southwest. This hole intersected 3 narrow intervals of copper mineralization in ocoitas including 6m at 1.16% Cu, 1.7g/t Ag and 0.017g/t Au from 52m downhole, 1m at 1.81% Cu, 0.4g/t Ag and 0.695g/t Au from 131m and 1m at 3.22% Cu and 2.0g/t Ag from 155m as well as a quartz-pyrite vein sub-parallel to the core which returned 2m of 2.98% Cu and 3.8g/t Au from 141m.

Drillhole DS-21-07 was drilled to follow-up near surface copper mineralization intersected in historic hole DS-1113 (22.9m at 1.14% Cu). This infill drillhole intersected 33m at 1.77% Cu, 1.5g/t Ag and 0.052g/t Au from 24m including two higher-grade intervals: 9.0m at 3.44% Cu, 1.6g/t Ag and 0.167g/t Au from 24m and 7.0m at 2.54% Cu, 3.5g/t Ag and 0.020g/t Au from 39m. This upper mineralized intercept was dominantly copper oxides. Deeper sulphide intersections included 10m at 0.84% Cu, 1.2g/t Ag and 0.032g/t Au from 84m and 6m at 2.19% Cu, and 0.4g/t Ag from 176m. Additional assays are pending.

The infill drilling results to date have defined several steep dipping shoots of high-grade mineralization. Step-out drilling has identified high-grade mineralization beyond the northern edge of the main drilling grid.

Significant 2021 assay results received to date for the Dalmacia 2021 drilling program include the following drillholes (see Table 1):

  • DS-21-01 (Infill): 23m at 1.16% Cu, including 13m at 1.56% Cu;
  • DS-21-02 (Infill): 11m at 1.08% Cu, including 4m at 2.32% Cu;
  • DS-21-03 (Infill): 15m at 1.01% Cu, including 4m at 2.47% Cu;
  • DS-21-04 (Infill): 13m at 0.64% Cu including 2m at 1.24% Cu;
  • DS-21-05 (Step-out): 6m at 1.16% Cu;
  • DS-21-O6 (Step-out): 32m grading 0.73% Cu including 16m at 1.15% Cu and 95m at 0.78% Cu including 29m at 1.45% Cu, including a higher-grade interval of 14m at 2.44% Cu;
  • DS-21-07 (Infill): 33m at 1.77% Cu, including intervals of 9.0m at 3.44% Cu, and 7.0m at 2.54% Cu, and 10m at 0.84% Cu, and 6m at 2.19% Cu.

Table 1: 2021 BMR Drilling Dalmacia Target Significant Drill Assay Intervals

Drillhole Number From
(m)
To
(m)
Sample Interval (m) Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
DS-21-01 79 91 12 1.79 2.5 0.028
including 80 88 8 2.44 3.2 0.035
and 105 128 23 1.16 1.7 0.016
including 115 128 13 1.56 2.1 0.024
including 115 122 7 2.32 3.1 0.036
and 137 139 2 1.06 0.7 0.030
and 180 184 4 0.89 0.4 -
and 220 224.9 4.9 0.72 0.6 -
DS-21-02 22 29 7 1.67 2.6 0.08
and 64 74 10 1.03 2.1 -
including 64 67 3 1.49 2.3 -
and 71 73 2 2.34 5.0 -
and 99 106 7 2.58 2.7 -
and 177 188 11 1.08 0.9 0.08
including 177 181 4 2.32 1.4 0.17
including 177 180 3 2.90 1.7 0.22
DS-21-03 46 61 15 1.01 1.2 0.017
including 46 50 4 2.47 3.1 0.05
DS-21-04 70 76 6 0.71 0.9 0.012
Including 72 76 4 0.87 1.0 0.010
and 89 102 13 0.64 0.9 -
including 93 95 2 1.24 1.5 -
DS-21-05 52 58 6 1.16 1.7 0.017

131 132 1 1.81 0.4 0.695

141 143 2 2.98 5.0 3.835

155 156 1 3.22 2.0 -
DS-21-06 37 69 32 0.73 0.5 -
including 37 53 16 1.15 0.6 0.060
including 37 44 7 1.75 0.8 0.079
and 112 115 3 2.14 0.6 0.030
and 134 139 5 1.58 0.4 0.019
and 167 262 95 0.78 0.5 -
including 167 170 3 1.84 0.8 0.096
and 183 187 4 1.75 0.6 0.071
and 19 262 65 0.93 0.5 -
including 197 211 14 2.44 0.7 0.039
and 243 262 19 1.10 0.6 0.022
including 243 251 8 1.88 0.7 0.029
and 260 262 2 1.79 0.7 0.060
DS-21-07 24 57 33 1.77 1.5 0.052
including 24 33 9 3.44 1.6 0.167
and 39 46 7 2.54 3.5 0.020
and 84 94 10 0.84 1.2 0.032
and 176 182 6 2.19 0.4 -

Note: All intervals are downhole core lengths

San Andres Drill Program

San Andres is a zone of copper mineralization located 500m southwest of the high-grade Cinabrio deposit mined by Glencore and Xiana Mining (see Figure 1).

The San Andres target is a tabular sedimentary horizon within a volcanic sequence. This sedimentary horizon ("TSU") is variably mineralized and has a variable width ranging from 5m - 30m. It consists of an interlayered volcano-sedimentary sequence composed of dark colored laminated and unlaminated shales, volcanoclastic sandstone, conglomerates and breccias and tuff breccias. There is a variable component of syngenetic pyrite. The horizon dips 40 to 50 degrees to the east and is cut-off at depth by the moderately west dipping San Andres fault (see Figure 3).

Mineralization consists of veinlets and irregular disseminations in both the fine and coarse-grained clastic rocks and locally within the volcanic rocks above and below the host unit. The TSU is also cut and offset by other faults with a wide range of orientations. The fundamental orientations identified to date include:

  • moderately west dipping splays of the San Andres fault, generally with downward and westward movement
  • steep dipping northeast to northwest trending faults with both sinistral and dextral offsets
  • Faults parallel and sub-parallel to stratigraphy

At San Andres, the phase 1 drilling has been completed resulting in 8,156m of drilling in 38 holes. All samples have been dispatched for analysis with assay results pending for the final 6 holes. The phase 1 program targeted a 600m north-south trending zone and this drilling has delineated a 400m long zone of significant copper mineralization above the San Andres Fault. The TSU favorable stratigraphic package that hosts the San Andres mineralization continues along strike to the north and south.

Work is currently focused on updating of the 3D geological model which will be followed by a resource modelling and estimation by JDS Energy and Mining Inc.

New assays for 3 holes (SAS-21-27, 29 & 30) have been received. SAS-21-27 & 29 were vertical step-out holes drilled in the south-central part of the San Andres Target (see Figure 4).

Drillhole SAS-21-27 was designed as a 60m down-dip test of sulphide mineralization intersected in SAS-21-12 (18m at 1.18% Cu). The new hole SAS-21-27 cut a downhole interval of 11m at 2.16% Cu, 14.9g/t Ag and 0.01g/t Au from 213m.

Drillhole SAS-21-29 targeted as a 60m down-dip step-out of the mineralization intersected in hole SAS-21-14 (12.8m at 1.44% Cu). The new hole SASA-21-29 cut a downhole interval of 16m at 1.49% Cu, 5.7g/t Ag and 0.008g/t Au from 218m.

Drillhole SAS-21-30 was drilled on the north end of San Andres Zones as a 50m up-dip step-out test of mineralized intercept in SAS-21-19 (4m at 1.24% Cu) and yielded a downhole intercept of 5m at 1.39% Cu, 5.2g/t Ag and 0.006g/t Au from 50m including: 3.0m at 1.89% Cu, 7.7g/t Ag and 0.009g/t Au from 52m

In addition, significant 2021 assay results received to date for the Phase 1 San Andres Drilling are included in Table 2.

Table 2: San Andres Target 2021 Drilling Significant Drill Assay Intervals

Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
SAS-21-01 180.2 183.2 3.0 1.52 2.00 0.007
SAS-21-02 185 188 3 0.04 - -
SAS-21-03
including
195 209 14 1.18 3.30 0.047
201 209 8 1.62 4.60 0.064
SAS-21-04
including
and
including
185.0 201.7 16.7 1.37 3.50 0.106
190.0 201.7 11.7 1.64 4.60 0.148
220.7 232.0 11.3 1.48 6.20 0.005
223 232 9 1.76 7.50 0.005
SAS-21-05
including
202 229 27 0.89 10.50 0.001
220 229 9 2.06 20.50 0.001
SAS-21-07
including
and
241.0 263.7 22.3 0.71 1.30 0.008
244.7 249.0 4.4 1.93 3.40 0.003
257 261 4 1.57 2.10 0.014
SAS-21-08
including
and
221.75 236.55 14.80 0.95 1.90 0.012
221.75 227.00 5.25 1.39 2.50 0.024
232.9 236.7 3.8 1.84 3.90 0.002
SAS -21-11 53 55 2 0.91 11.10 0.001
SAS-21-12 162 164 2 1.04 5.00 0.004
including 176 194 18 1.18 2.50 0.001
including 176 183 7 1.81 2.60 0.001
SAS-21-13 199 202 3 0.87 19.90 0.001
including 211.0 212.8 1.8 0.83 16.70 0.001
including 217 221 4 1.59 19.20 0.001
SAS-21-14 203.2 239.0 35.8 0.98 3.30 0.007
including 203.2 216.0 12.8 1.44 5.00 0.002
including 207 216 9 1.83 5.90 -
including 227 239 12 1.25 3.6 0.018
SAS-21-15 116 119 3 0.50 8.30 -
and 133 136 3 0.48 6.00 -
and 139 141 3 0.51 0.40 -
SAS-21-17 241.4 245.0 3.6 1.04 1.00 -
SAS-21-19 74 78 4 1.24 2.20 0.001
SAS-21-20 266.9 269.3 2.4 0.70 0.10 -
SAS-21-21 106 131 25 0.88 14.90 0.001
including 106 119 13 0.96 21.80 -
including 115 119 4 1.19 20.10 0.001
and 136 138 2 1.12 18.20 -
SAS-21-23 194.0 196.8 2.8 1.00 8.70 0.032
including 196.0 196.8 0.8 2.12 8.00 0.037
SAS-21-24 231 234 3 0.82 1.70 -
SAS-21-27 213 224 11 2.16 14.9 0.008
SAS-21-29 218 234 16 1.49 5.70 0.004
SAS-21-30 50 55 5 1.39 5.20 0.006
including 52 55 3 1.89 7.70 0.009

Note: All intervals are downhole core lengths

Cinabrio Norte Drill Program

At Cinabrio Norte, a phase 1 drill test will follow-up on a limited number of historic drillholes that targeted the northern extension of the Cinabrio orebody.

The historic exploration drilling confirmed that the favorable targeted stratigraphic unit ("TSU") that hosts the copper mineralization within the Cinabrio orebody extends to the north. The TSU has been mapped along a north-south strike from the mine. The Cinabrio Norte target is only 110m north of the Cinabrio underground workings level 200m (see Figure 5, Figure 6 and Table 3). Historic hole CNS-20-01 drilled by Xiana Mining was drilled completely within the TSU resulting in multiple mineralized intercepts and, most importantly, confirmed the presence of TSU for over 200m of strike length with significant copper sulphide mineralization.

Table 3: Cinabrio Norte Historic Exploration Drill Intercepts

Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
CNB-01 29 31 2 0.43 - 0.015
and 39 43 4 0.48 - 0.013
CNN-R-08-09 136 141 5 1.49 3.85 -
CNO-08-03 280 285 5 0.33 - -
CNO-08-09 289 291 2 1.05 - -
CNO-08-10 238 240 2 0.43 5.0 -
CNO-08-12 209 215 6 1.14 - -
CNS-20-01 205 253 48 0.64 - -
and 271 274 3 0.47 - -
and 287 293 6 0.45 - -
CNS-20-02 82 85 3 0.91 - -
CNS-20-03 95.2 96.2 1.0 0.34 - -
CNS-20-04 94 108 14 0.75 - -
CS-0-15-06 93.23 94.23 1.00 2.74 16.4 0.010
PZ-01 20 29 9 0.87 3.0 0.020
and 32 34 2 0.60 - -
and 37 43 6 0.58 1.0 0.020

Note: All intervals are downhole lengths

This initial program is planned as 18 holes totaling 3,000m which will test 400m of strike length to a depth of 200m. Drilling commenced mid-November with one drill and in early December a second drill was added. To date, nine holes have been completed for 1,443m and drilling is ongoing.

Six of the nine holes intersected sections of strongly mineralized sedimentary rocks with sulphide copper mineralization observed. Assays are pending.

Drillhole CNN-21-02 intersected 22 meters of the target sedimentary horizon composed of interlayered pyritic shales and tuffaceous sandstones. Weak to moderate chalcopyrite mineralization occurs in the upper part of this sedimentary horizon. Bornite-chalcopyrite mineralization was noted in a five-meter wide shaley unit at the base of the sedimentary unit. Drillholes CNN-21-01 and CNN-21-04 also intersected bornite-rich intervals. Drill hole CNN-21-05 intersected pyritic shales with weak copper mineralization.

Cinabrio Sur Drill Program

At Cinabrio Sur, a limited Phase 1 drill program was recently completed to test the Cinabrio mine mineralization to the south.

The target at Cinabrio Sur is the southern extension of TSU hosting the Cinabrio orebody. The lack of surface exposures of the TSU is interpreted to be explained by the moderately west dipping San Andres fault cutting the upward projection of this unit before it reached surface. This interpretation infers that the TSU is present at depth but is not exposed at surface south of the Cinabrio mine deposit (see Table 4, Figure 7 and Figure 8).

This drilling targeted the immediate southern extensions of the Cinabrio orebody just beyond the workings on the 440m level in an earlier where a series of historic reverse circulation holes had confirmed the presence of the TSU and copper mineralization.

In addition, four wide-spaced step-out holes to the south. A total of 860m in eight diamond core holes have been completed with assay results for three drillholes received and are shown in Table 4. An additional four short infill holes are planned as a follow-up program targeting the immediate southern extension of the existing mine workings.

Table 4: Cinabrio Sur Target 2021 Drilling Significant Drill Assay Intervals

Drillhole
Number
From
(m)
To
(m)
Sample
Interval
(m)
Copper
Cu (%)
Silver
Ag (g/t)
Gold
Au (g/t)
CNV-21-02 50.8 65.0 14.3 0.98 0.5 -
including 55 65 10 1.17 0.5 0.014
CNV-21-03 61 63 2 0.65 0.8 0.051
CNV-21-07 37 43 6 1.73 0.5 -

Note: All intervals are downhole core lengths

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_002.jpg

Figure 1: Punitaqui Drill Target Location Map

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_002full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_003.jpg

Figure 2: Dalmacia Target Drill Collar Plan with Recent Copper Intercepts

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_004.jpg

Figure 3: Cinabrio - San Andres Geology and Targets Plan

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_004full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_005.jpg

Figure 4: San Andres Drill Collar Plan with Recent Copper Intercepts


To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_005full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_006.jpg

Figure 5: Cinabrio Norte Drill Collar Plan (2021 completed holes in green and historic holes in grey)

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_006full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_007.jpg

Figure 6: Cinabrio Norte Target Schematic 3D View Looking East

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_007full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_008.jpg

Figure 7: Cinabrio South Geology and Drill Collar Plan (2021 completed holes in green and historic holes in grey)

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_008full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_009.jpg

Figure 8: Cinabrio South Target 3D Schematic View Level 440m Workings & Drilling

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6076/108628_488bca53d4379836_009full.jpg

Quality Control

Sample preparation, analysis and security procedures applied on the BMR exploration projects is aligned with industry best practice. BMR has implemented protocols and procedures to ensure high quality collection and management of samples resulting in reliable exploration assay data. BMR has implemented formal analytical quality control monitoring for all field sampling and drilling programs by inserting blanks and certified reference materials into every sample sequence dispatched.

Sample preparation is performed ALS Global - Geochemistry Analytical Lab in La Serena, Chile and sample analyses by ALS in Lima, Peru. ALS analytical facilities are commercial laboratories and are independent from BMR. All BMR samples are collected and packaged by BMR staff and delivered upon receipt at the ALS Laboratory. Samples are logged in a sophisticated laboratory information management system for sample tracking, scheduling, quality control, and electronic reporting. Samples are dried then crushed to 70%

  • ME-MS61: A high precision, multi-acid digest including Hydrofluoric, Nitric, Perchloric and Hydrochloric acids. Analysed by inductively coupled plasma ("ICP") mass spectrometry that produces results for 48 elements.
  • ME-OG62: Aqua-Regia digest: Analysed by ICP-AES (Atomic Emission Spectrometry) or sometimes called optical emission spectrometry (ICP-OES) for high levels of Co, Cu, Ni and Ag.

Certified standards are inserted into sample batches by ALS. Blanks and duplicates are inserted within each analytical run. The blank is inserted at the beginning, certified standards are inserted at random intervals, and duplicates are analysed at the end of the batch.

Additional Information

Michael Schuler, Battery Mineral Resources Corp. Chile Exploration Manager, supervised the preparation of and approved the scientific and technical information in this press release pertaining to the Punitaqui Exploration Drill Program. Mr. Schuler is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Battery Mineral Resources Corp.

A battery mineral company with high-quality assets providing shareholders exposure to the global mega-trend of electrification and focused on growth through cash-flow, exploration and acquisitions in the world's top mining jurisdictions. Battery is currently developing the Punitaqui Mining Complex and pursuing the potential near term resumption of operations for second half of 2022 at the prior producing Punitaqui copper-gold mine. The Punitaqui copper-gold mine most recently produced approximately 21,000 tonnes of copper concentrate in 2019 and is located in the Coquimbo region of Chile.

Battery is engaged in the discovery, acquisition, and development of battery metals (cobalt, lithium, graphite, nickel and copper), in North and South America and South Korea with the intention of becoming a premier and sustainable supplier of battery minerals to the electrification marketplace. Battery is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada and continues to pursue a focused program to build on the recently announced, +1-million-pound high grade cobalt resource at McAra by testing over 50 high-grade primary cobalt silver-nickel-copper targets. In addition, Battery owns 100% of ESI Energy Services, Inc., also known as Ozzie's, a pipeline equipment rental and sales company with operations in Leduc, Alberta and Phoenix, Arizona.

For further information, please contact:

Battery Mineral Resources Corp.
Martin Kostuik
Phone: +1 (604) 229 3830
Email: info@bmrcorp.com

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, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108628

News Provided by Newsfile via QuoteMedia

BMR:CA
Battery Mineral Resources

Battery Mineral Resources

Overview

The global battery metals market is a rapidly growing billion-dollar industry. This market represents the raw materials used in the production of batteries such as lithium, nickel, cobalt, manganese and graphite. With the increasing popularity of electric vehicles, energy storage systems, consumer electronics and electric alternatives to everyday applications, the demand for these metals has seen unprecedented growth.

In 2019, analysts valued the market at US$11.3 billion and projected it to grow at a CAGR of 8.2 percent and reach US$20.5 billion by 2027. A rapid surge in the renewable energy industry has many looking to the battery mineral and metal exploration and development companies to supply the demand, which shows robust projections across global markets.

Battery Mineral Resources (TSXV:BMR,OTCQB:BTRMF) is a Canadian multi-commodity resource company focused on exploring, mining and bringing essential battery minerals to market through project development and production. Its unparalleled management team and high-quality asset portfolio set the company apart from other emerging battery metals players.

battery mineral resources punitaqui plant

BMR stands as the largest claim holder across all minerals in the Ontario Cobalt Belt, which is one of the most richly endowed mining regions in the world. It currently has a robust asset portfolio, including its McAra, Gowganda, Iron Mask, Island 27 projects in Ontario and additional projects in the works across the province and Quebec. As a first-mover in the district, the company has led efforts in recognizing the potential of multiple new, at-surface and high-grade primary cobalt discoveries in this region.

In March 2021, BMR acquired the near-term cash flow Minera Altos de Punitaqui copper-gold project in Chile, which consists of a centralized process plant fed by four satellite copper deposits — San Andres, Cinabrio, Dalmacia and Los Mantos. The past-producing mining operation leverages easy road access to local population centers and presents outstanding exploration opportunities across its classic IOCG and manto style copper-gold-silver veins.

The company's cobalt reach extends into the prolific mining district of Idaho with its three 100 percent owned properties covering 14 significant cobalt prospects in the state. Bonanza, Desert and East Fork properties are strategically positioned near the home of eCobalt Solutions Idaho cobalt project, the only advanced stage, near term, environmentally permitted, primary cobalt deposit in the U.S.

Another exciting addition to the BMR portfolio is its highly prospective graphite assets located in South Korea and lithium assets in prolific U.S. mining districts. The Guemam and Taehwa projects are two past-producing graphite mines, which leverage close proximity to excellent lithium-ion industrial infrastructure and considerable yield and high-grade graphite potential.

battery mineral resources san andres trend punitaqui

The next steps for the company involve extensive drilling in Chile and a 9,000-meter drilling program across its assets in Ontario, targeting eight cobalt silver prospects. Exciting development work and operational construction in the near future could propel exploration and drilling forward significantly. Positive drill results at its Idaho properties also present higher-than-expected cobalt grades and exploration opportunities.

Battery Mineral Resources Corp.'s management team consists of leaders with extensive operational and development experience. Combined with a stellar and supportive shareholder portfolio, the company is primed for exceptional economic growth and well-funded development.

Battery Mineral Resources' Company Highlights

  • Battery Mineral Resources is a multi-commodity resource company focused on discovering, acquiring and developing battery metals projects (cobalt, lithium, graphite, nickel & copper), in North and South America and South Korea. It's poised to become a premier and sustainable supplier of battery minerals to the electrification marketplace.
  • BMR is currently developing the Punitaqui Mining Complex and pursuing the potential near-term resumption of operations at the prior producing Punitaqui copper-gold mine.
  • BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp, Canada. It controls a robust portfolio of cobalt assets across the prolific Timmins & Sudbury and Rouyn & Val d'Or Quebec areas.
  • Its Canadian cobalt portfolio consists of McAra, Gowganda, Iron Mask, Island 27, Fabre in Quebec and several additional highly prospective projects in politically stable jurisdictions of Ontario.
  • Additional battery mineral exposure includes its strategically acquired graphite assets in South Korea and lithium properties in prolific mining districts like Nevada and California.
  • BMR's management team combines seasoned experts across related industries in finance, resource development and battery mineral exploration.

Click here to follow Battery Mineral Resources on LinkedIn

Battery Mineral Resources' Key Projects

Minera Altos de Punitaqui Copper Complex

battery mineral resources minera altos de punitaqui copper complex map

Minera Altos de Punitaqui (MAP) is an integrated copper and gold mining complex located in the region of Coquimbo, Chile approximately 50km south of the Andacollo copper mine owned by Teck Resources. The 8.095-hectare asset consists of a centralized process plant that is fed by four satellite copper deposits – San Andres, Cinabrio, Dalmacia and Los Mantos. The fully permitted operation also leverages excellent road access and widespread mineralization.

MAP boasts a past production history and near-term production potential. Cinabrio and San Andres mining zones leverage underground portal access and Mantos-type copper mineralization up to 30 meters thick. The Dalmacia drill target contains copper-silver-gold mineralization which is structurally controlled. All regional targets offer immediate exploration and district-scale potential to BMR.

After its acquisition in March 2021, BMR has been quick to begin development on the asset. The company plans to immediately commence restart activities at the site to resume mining and milling operations which will be carried out in conjunction with an aggressive regional exploration campaign to better define historical mineral resources and add new resources for mining in the future. Re-start is projected to begin within 12 months to a potential annual EBITDA of US$50 million per annum.

Canadian Cobalt Exploration Projects

battery mineral resources cobalt mining camp

BMR controls a large 1,100-kilometer squared land package in the Ontario Cobalt Belt, which hosts multiple high-grade and widespread mineralized targets. The company has conducted geotechnical assessments and assays on the property with samples from outcrop revealing target prospects that present up to-21 percent cobalt values.

The project portfolio consists of McAra, Gowganda, Iron Mask, Island 27, other additional Ontario properties and highly prospective cobalt assets in Quebec. The projects access well-serviced mining networks and infrastructure with excellent exploration, development and mining suppliers in the prolific Timmins & Sudbury and Rouyn & Val d'Or Quebec areas. BMR stands as the largest regional landholder with extensive claim packages in the Elk Lake and Gowganda mining camps.

Over 42,244 meters have been drilled on 20 cobalt-silver prospects across seven properties. McAra has a measured and indicated resource of approximately 1,124,000 pounds of cobalt and stands as the highest-grade cobalt dominant deposit worldwide in more than 50 years with grades upwards of 1.5 percent cobalt. Exciting next steps for the company's Ontario cobalt assets include a 9,000-meter drilling program and a projected centralized processing plant at Gowganda.

Idaho Cobalt Projects

battery mineral resources idaho cobalt belt projects

Battery Mineral Resources has 434 mineral claims in three 100 percent owned properties covering fourteen significant cobalt prospects within a three by six kilometer cobalt-copper mineralized zone. Its properties include Bonanza, Desert and East Fork assets located in the historic cobalt-copper Blackbird mining district approximately 30 kilometers west of Salmon, Idaho.

The largest Bonanza hosts multiple surface and subsurface shoots of copper-cobalt mineralization hosted along contact with gabbro sill. Historic drilling results demonstrated cobalt grades ranging 0.4 percent to 0.58 percent with anomalous gold from surface level to 100 meters deep. All projects host excellent high-grade copper-cobalt discovery potential.

Graphic Assets — Geumam and Taehwa, South Korea

battery mineral resources south korea projects

BMR has 100 percent ownership of Guemam and Taehwa graphite exploration projects containing high-purity flake graphite deposits. Both assets are past-producing mines with existing local infrastructure and near-term production potential. Advantageous positioning in South Korea puts BMR close to established and booming battery industries in Asia.

Guemam is located 20 kilometers from South Korea's second-largest lithium-ion battery factory and has a maiden NI 43-101 resource. Indicated mineral resources on the property stand at approximately 101-kilo tons containing 6.6 percent graphite grades. The Taehwa project also has excellent discovery potential with historical mineral resource estimates of 99,000 tons of graphite at 6.8 percent and additional inferred mineral resource of 70,000 at seven percent graphite grades.

Battery Mineral Resources' Management Team

Lazaros Nikeas — Executive Chairman

Lazaros Nikeas has over 15 years of strategy and capital markets advisory for resource, chemicals and industrial companies, with over US$25 billion of M&A transactions completed. He is currently a principal investment manager of Weston Energy LLC, a Yorktown Partners LLC portfolio company with investments in energy minerals assets. Nikeas was previously a partner of Traxys Capital Partners, a private equity firm backed by The Carlyle Group.

Martin Kostuik — CEO & Director

Martin Kostuik has over 28 years of diversified experience in the mining industry as a mining engineer and senior executive. He was the president and director for the last four years at Arizona Gold Corporation and before was CEO and director of Rupert Resources Limited.

Previously, Kostuik built a broad base of experience in operations, engineering, exploration and capital projects with various companies including Luna Gold (Equinox), Barrick Gold Corporation, Taseko Mines Limited and DMC Mining Services.

Jack R. Cartmel — CPA, CA, CFO

Jack R. Cartmel is a finance executive with over 15 years of experience in the mining industry with expertise in M&A, IPOs, taxation, public company accounting and disclosure and financial and risk management. Previously, he held a position with TSX-listed Monument Mining, a mid-size gold producer in Asia and White Tiger Gold, a mid-size gold producer.

Peter Doyle — VP of Exploration

Peter Doyle has over 40 years of experience in all aspects of mineral exploration from regional reconnaissance to project evaluation and development, in a variety of geological terrains throughout Canada, the U.S., South America and Australia. He was previously with PT Freeport Indonesia, Gold Fields and Troy Resources.

Jacob Willoughby — VP of Corporate Development & Strategy

Jacob Willoughby is a geologist and MBA graduate with nearly 17 years of diversified experience in mining capital markets. He has worked as a mining analyst for over eight years, covering exploration and development companies globally in both precious and base metals. Willoughby also worked as a capital markets consultant, an investor and as a director and senior executive.

Willoughby was most recently VP of Research and Analyst at Red Cloud Securities in Toronto. Prior, he was a partner and mining analyst at Beacon Securities. He began his career in mining equity research at Paradigm Capital, where he worked for five years. He also spent two years as President and Director of Aldridge Minerals, a Canadian public company with assets in Turkey and Papua New Guinea.

Click here to follow Battery Mineral Resources on LinkedIn

Keep reading... Show less
Battery Mineral Resources Announces Intention to Issue C$5 Million in Unsecured Convertible Debentures

Battery Mineral Resources Announces Intention to Issue C$5 Million in Unsecured Convertible Debentures

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of unsecured convertible debentures (the "Debentures") for total gross proceeds of up to C$5 million. The proceeds from the Debentures will be used to fund an extension of the successful 2021 exploration drilling program at the Company's recently acquired Punitaqui copper project in Chile and for general working capital purposes.

The Debentures will mature on the date (the "Maturity Date") that is three years from the date of issuance. The holder of any Debenture may, at its option, at any time from six months from the date of issuance, and prior to the close of business on the business day immediately preceding the Maturity Date, convert all, but not less than all, of the principal amount of such Debenture into common shares of the Company at the conversion price of C$0.65 per share.

Keep reading... Show less
Dalmacia Drilling Delivers Step-Out Hole of 14 Meters at 2.44% Copper at Battery Mineral Resources Punitaqui Mine

Dalmacia Drilling Delivers Step-Out Hole of 14 Meters at 2.44% Copper at Battery Mineral Resources Punitaqui Mine

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce encouraging drill core assay results from the on-going 2021 exploration and in-fill Dalmacia drill program at the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of copper concentrate production in mid to late-2022. Dalmacia is located in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui copper processing plant. The Dalmacia target is the second of several historic zones drilled by BMR with partially delineated mineralized zones and established underground access.

Highlights

Keep reading... Show less
Dalmacia Drilling Delivers Encouraging Initial Copper Results at Battery Mineral Resources Punitaqui Mine

Dalmacia Drilling Delivers Encouraging Initial Copper Results at Battery Mineral Resources Punitaqui Mine

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce encouraging drill core assay results from the 2021 exploration and in-fill drill program at the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of copper concentrate production in mid to late-2022. The Dalmacia Target is second of several historic zones within BMR's Punitaqui project with partially delineated resources and established underground access. Dalmacia is located in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui copper processing plant.

Highlights

Keep reading... Show less
Battery Mineral Resources Provides Corporate Development Update

Battery Mineral Resources Provides Corporate Development Update

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to provide an update regarding business activities and outline steps towards potential near term cash generation. The recently acquired Punitaqui mine in Chile is slated for resumption of copper production in mid to late-2022.

Battery is an investor focused company with high-quality assets providing shareholder exposure to the global mega-trend of electrification via our assets and the commodities they represent - namely cobalt, graphite, lithium and copper. BMR is determined to provide value growth through cash-flow, exploration and acquisitions in top mining jurisdictions.

Keep reading... Show less
Battery Mineral Resources Continues to Deliver Encouraging Copper Results at Punitaqui Mine

Battery Mineral Resources Continues to Deliver Encouraging Copper Results at Punitaqui Mine

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce encouraging drill core assay results from the 2021 exploration and in-fill drill program at the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of production mid to late-2022. The San Andres target is one of several historic zones within BMR's Punitaqui project with partially delineated resources and established underground access.

Highlights

Keep reading... Show less
Electra Battery Materials Logo

Electra Battery Materials


Overview

As governments, large corporations, and established automakers turn their attention to clean energy initiatives, it’s clear the reliance on electric vehicles and battery technology is on the rise. In fact, electric vehicle (EV) sales are expected to increase ten-fold from 3.2 million units in 2020 to an astonishing 32.2 million units in 2030, resulting in an aggressive demand for battery materials as the green economy takes off. However, with the battery material market being led by China controlling over 80 percent of the current market share the need for a domestic supply chain is critical now more than ever.

Among battery supply materials, cobalt and nickel are considered crucial to lithium-ion batteries used in EVs. The battery industry requires materials such as nickel and cobalt to be supplied in a specific chemical form for the production of precursor material converted to cathode active material used in lithium-ion batteries. As the demand for EVs booms in the coming years, companies outside of China that can supply battery materials in this specific chemical form will likely present an attractive opportunity for investors.

Electra Battery Materials (TSXV:ELBM,OTCQX:ELBMF) is an ESG-focused battery materials company advancing the only fully integrated, localized and environmentally-sustainable battery park in North America. Electra is led by a highly experienced management team with decades of experience in the mining and mineral processing industry.


Electra Battery Materials’ battery materials park, the first of its kind in North America, will supply the electric vehicle industry with cobalt and nickel sulfate production, a large-scale lithium-ion battery recycling facility and battery precursor materials production . The company plans to become a leader in the battery supply chain by leveraging vertical integration opportunities in North America.
Electra Battery Materials Battery Materials Park

"Globalization has created an electric vehicle supply chain that is too long, too costly and increasingly unreliable," said Trent Mell , President & CEO in an interview with INN. "Our automaker clients have a strong interest in greater localization of the upstream supply chain to achieve greater reliability, security of long-term supply, and a lower carbon footprint. With the continent's rich mineral endowment, the rationale for supplying battery materials through Asia into a growing U.S. EV market is not sustainable. Electra will act as a bridge between North American electric vehicles and a North American source of primary and recycled material, providing a low carbon solution for zero emission vehicles.”

The creation of a nickel sulfate production line directly supports the company’s four-phase growth plan. The company is already in talks with various nickel suppliers to secure the raw materials its future nickel sulfate facility will require, which when combined with its near-term cobalt output, could power 1.5 million electric vehicles each year.

The company’s cornerstone asset, the Cobalt Refinery, is a fully-permitted, modular and environmentally-friendly facility located in Ontario, Canada. The facility will be the world’s second-largest battery-grade cobalt sulfate refinery outside of China.

The Company’s 4-phased approach to market entry allows it to grow its product line offering in line with demand from the evolving EV market, while minimizing risk and managing capital intensity.

Electra Battery Materials Cobalt Refinery

At Phase 1, the refinery is expected to be capable of supplying the EV market with 25,000 tonnes of battery-grade cobalt sulfate per annum in 2023, with a planned increase of 30 percent shortly thereafter. The company’s refinery will account for 26 percent of cobalt sulfate production outside of China.

The next stage, Phase 2, Electra will be growing its recycling business initially targeting black mass from consumer electronics and subsequently targeting primary battery scrap material from North American EV cell manufacturers.

Based on industry forecasts, there could be nearly 250,000 tonnes of lithium-ion batteries available for recycling from manufacturing scrap in North America alone by 2025. (see how to footnote Benchmark and Li-cycle)

As the e-mobility and renewable energy industries ramp up in North America, Electra will use hydrometallurgy to recycle black mass back into useable Li-ion battery materials.

The Company’s third phase involves refining nickel from 2024 to 2025, while Phase 4 involves establishing a partnership for a PCAM plant in 2025.

Developing a world-class critical mineral deposit in the USA: The Iron Creek Copper-Cobalt Project

Electra is the owner of one of the only primary copper/cobalt deposits in the United States. Cobalt is a strategic critical mineral identified by the US Government as part of their broader efforts to secure domestic supply chains.

Iron Creek will support the asset necessary for the nation’s development of the US-based a domestic EV materials supply chain.

  • Indicated Resource of 2.2 million tonnes at 0.32 percent cobalt equivalent (0.26 percent cobalt and 0.61 percent copper) for 12.3 million pounds of contained cobalt and 29 million pounds of contained copper
  • Inferred Resource of 2.7 million tonnes at 0.28 percent cobalt equivalent (0.22 percent cobalt and 0.68 percent copper) for 12.7 million pounds of contained cobalt and 40 million pounds of contained copper

Electra Battery Materials is committed to ESG initiatives with industry-leading credentials. The company’s ESG commitments include recycling, producing a low carbon footprint, fostering traceability and shortening and securing a domestic supply chain. The company’s refinery is expected to produce 51 percent lower greenhouse gases than its Chinese counterparts with higher yields and lower energy requirements.

Company Highlights

  • Electra Battery Materials Corporation (TSXV:FCC,OTCQX:FTSSF) is an ESG-focused battery materials company focused on building the first battery-grade refinery in North America. The company aims to build the only fully integrated, localized and environmentally-sustainable battery park in North America.
  • Electra’s Battery Materials park will supply the electric vehicle industry with cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility and battery precursor materials production
  • The company’s Refinery is a fully-permitted, modular and environmentally-friendly hydrometallurgical facility located in Ontario, Canada. The facility will be the world’s second-largest battery-grade sulfate refinery outside of China.
  • The company’s Iron Creek Project offers strong resource growth potential to become an important critical mineral deposit for the U.S’ domestic EV supply chain. Inferred Resource of 2.7 million tonnes at 0.28 percent cobalt equivalent (0.22 percent cobalt and 0.68 percent copper) for an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper. The resource estimate used a 0.18 percent cobalt equivalent cutoff grade.Electra Battery Materials is committed to ESG initiatives with industry-leading credentials. The company’s ESG commitments include recycling, producing a low carbon footprint, fostering traceability and shortening and securing a domestic supply chain.

Key Projects

Electra’s Refinery

Electra Battery Materials Electra\u2019s Refinery

The Electra’s Refinery is a fully-permitted and environmentally-friendly hydrometallurgical facility located in Ontario, Canada. The facility will be the world’s second-largest non-Chinese battery-grade sulfate refinery and the only refinery in North America of its kind. The property is located near exceptional infrastructure with access to talented skilled labour. The Refinery will provide battery-grade cobalt and nickel, recycled battery materials and precursor material through its modular design.

The facility has a 10-year operating history. The company’s lithium-ion battery recycling process involves hydrometallurgical refining of Black Mass which is superior to pyrometallurgy. The process produces higher yields, significantly lower energy intensity and lower greenhouse gas emissions compared to pyrometallurgical facilities. Additionally, the process allows for lithium and graphite recoveries, unlike pyrometallurgy. The refinery is environmentally friendly as it is expected to produce 51 percent lower greenhouse gases than its Chinese counterparts. These low emissions are credited to the hydroelectric electricity grid in the area.

Electra Battery Materials strongly believes that this facility can supply the electric vehicle market in North America with 5,000 tonnes of cobalt contained as early as the fourth quarter of 2022. The company has already begun work on commissioning a lithium-ion battery recycling line in 2021. Electra Battery Materials is currently in the process of testing black mass feeds from recycled batteries and is awaiting the results from test work and engineering studies in the coming weeks.

Iron Creek Project

Electra Battery Materials Iron Creek Project

The Iron Creek project is a copper and cobalt project located in Lemhi County in the state of Idaho in the United States. The project is situated in the most prolific trend of cobalt mineralization in the US. The property spans 1,820 acres of mining patents and exploration claims. The Iron Creek project is located in the same trend as the historic Blackbird mine. The project features significant infrastructure that allows for multiple drills and underground activity. The property is accessible via an all-weather road that connects to a highway.

The property features historic exploration of 600 metres of underground development from 1970 to 1972. The company produced an updated and upgraded NI43-101 compliant resource estimate in 2020. Iron Creek currently has an Indicated Resource of 2.2 million tonnes at 0.32 percent cobalt equivalent (0.26 percent cobalt and 0.61 percent copper) for 12.3 million pounds of contained cobalt and 29 million pounds of contained copper, as well as an Inferred Resource of 2.7 million tonnes at 0.28 percent cobalt equivalent (0.22 percent cobalt and 0.68 percent copper) for an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper. The resource estimate used a 0.18 percent cobalt equivalent cutoff grade

In total, Electra Battery Materials has completed the advanced exploration of 29,00 metres of diamond drilling to date. Electra Battery Materials believes the property has strong high-grade resource growth potential given the strike extent and open nature of the mineralization in all directors. The company is currently awaiting drill results on the property expected at the beginning of 2022.

Management Team

Trent Mell - President, Chief Executive Officer and Director

Trent Mell founded First Cobalt in 2017. Mell has more than 20 years of international business and operational experience. His mining career experience includes mine permitting, development and operations with Barrick Gold, Sherritt International, North American Palladium and AuRico Gold. Mell’s commercial experience includes M&A, joint ventures, offtake contracts and over $2.6 billion in equity and debt financings. He was also the CEO of Falco Resources. Falco Resources is the owner of the Horne project which has mineral reserves of over 6 million gold equivalent ounces. Mell was the president and head of mining of PearTree Securities. In this role, Mell created a mining team and led the firm to become the largest provider of flow-through capital in Canada, placing more than $300 million in capital in their first year.

Mell holds an EMBA from the Kellogg School of Management and Schulich School of Business, an LL.M from Osgoode Hall as well as a B.A., B.C.L. and LL.B. from McGill University.

Ryan Snyder - CPA, CA and Chief Financial Officer

Ryan Snyder has more than a decade of experience in finance. Previously, he spent five years in operations finance with Inmet Mining Corporation. In this role, he led a project to build the life-of-mine model for Cobre Panama which is one of the largest copper development projects in the world. He also led the worldwide annual budgeting and quarterly forecasting processes, oversaw operational financial reporting and analysis and conducted scenario analysis for strategic decision-making. He then joined Enirgi Group Corporation where he oversaw financial planning, asset modelling and corporate governance. Most recently, he was with Primero Mining Corp. Snyder initially began as the director of finance and treasurer of Primero Mining but later became the chief financial officer. At Primero Mining, he was part of the team that negotiated the friendly merger of Primero with First Majestic Silver in 2018. Before entering the mining industry, Synder obtained his Chartered Professional Accountant designation with KPMG LLP.

Mark Trevisiol - P.ENG. and Vice President of Project Development

Mark Trevisiol is a professional engineer with 30 years of experience in mineral processing, mining, capital projects and executive management. He spent over 20 years with Falconbridge Ltd. and Xstrata Nickel which are Glencore predecessor companies. At these companies, he held various roles, including general manager of business development and strategy, general manager of the Sudbury smelter business unit, manager of smelter operations and superintendent of the Kidd Creek Zinc plant. More recently, Trevisiol held several executive leadership and board positions, including CEO positions at Crowflight Minerals and Silver Bear Resources.

During his career, Trevisiol has been responsible for mining and mineral processing for teams of up to 300 people. He was also responsible for operations, safety and environment, custom feed, engineering, maintenance and technology. He has a demonstrated track record of increasing plant efficiency and margins, notably in treating third-party feeds. With Falconbridge Ltd., he championed a new recycling facility primarily designed to handle spent cobalt-based lithium batteries. He has worked across several commodities, including nickel, cobalt, zinc, copper, lithium, gold, and silver.

Trevisiol has an engineering degree from the University of Waterloo.

Michael Insulan - Vice President of Commercial

Michael Insulan has nearly 20 years of experience across oil and gas, bulk commodities and base and minor metals. He has worked for Royal Dutch Shell, CRU and Eurasian Resources Group. Over the past four years, Insulan has been primarily focused on the cobalt market where he has built a reputation as an industry expert.

As vice president of commercial, Insulan will have overall responsibility for marketing the company’s refined cobalt sulfate product to electric vehicle (EV) manufacturers and battery cell makers. He will also be responsible for marketing recycled cobalt, nickel, lithium and other battery materials produced by the company’s Canadian refinery. These marketing efforts are part of a proposed Phase 2 expansion to refine black mass recovered from end-of-life lithium-ion batteries.

Michael holds a Ph.D. in Economics focused on the extractive industries.

Regan P. Watts - Vice President of Corporate Affairs

Regan P. Watts is a seasoned and entrepreneurial executive with more than 20 years of public and private sector experience in corporate communications, strategy, innovation and regulatory and corporate affairs. His experience spans various industries, including infrastructure, transportation, industrial manufacturing, information technology and financial services.

Watts has provided services to Electra Battery Materials since 2019 and has been instrumental in helping communicate the company’s priorities and plans to the Government of Canada and the Government of Ontario. In his executive capacity, Watts will add U.S. corporate and regulatory affairs to his responsibilities. Electra Battery Materials has ambitious plans for its Iron Creek copper-cobalt project in Idaho which align with President Biden’s US$2 trillion green energy plan.

Before working with Electra Battery Materials, Watts was a member of IBM Canada’s senior leadership group. At IBM, Watts headed the innovation, citizenship and government affairs team.

Before IBM, he served on the executive committee of Lafarge Canada where he led corporate communications, public and regulatory affairs and corporate social responsibility. Watts had an extensive career in public service, serving in leadership roles in the Government of Canada across four federal departments. From 2006 to 2012, he served at Finance Canada, Transport Canada, Health Canada and Foreign Affairs and International Trade Canada. In 2012, Watts was awarded the Queen Elizabeth II Diamond Jubilee Medal for his public service to Canada. Watts is also a published author. Watts holds an MBA from the Ivey Business School at Western University and is president of consultancy Fratton Park Inc.

Christina Lalli - Head of Investor Relations

Christina Lalli has nearly 20 years of investor relations and capital markets experience. Lalli has spent the majority of her career in the mining sector. She has held several senior-level investor relations positions throughout her career. Christina’s contribution has been instrumental in building robust IR programs, establishing new shareholder contacts and developing important relationships within Canada, the U.S. and Europe. Before joining Electra Battery Materials, she worked for Nouveau Monde Graphite, a Canadian natural graphite and battery anode materials company, currently in development. In this role, she acted as a key force in driving the company’s market awareness and share price growth. Before that, she worked for both Osisko Metals and Osisko Mining Corporation in 2003. Osisko Mining Corporation is an important success story in Canadian mining history.

Lalli holds a BA in Psychology and Human Relations as well as a graduate diploma from the Ivey School of Business from the University of Western Ontario. She is a Certified Professional in Investor Relations (CPIR) and a long-time member of the Canadian Investor Relations Institute.

Dr. George Puvvada - Refinery Technical Manager

Dr. George Puvvada is a P.Eng. and PMP with a Ph.D. Puvvada is a highly qualified metallurgist with over 25 years of industrial metallurgical experience. Over his career, Dr. Puvvada built a reputation for developing flowsheets for difficult ores. He also delivered projects for some of the world’s largest mining companies, including Vale, Xstrata and Barrick Gold.

As Electra Battery Materials’ technical manager, Dr. Puvvada will be a key member of the senior leadership team tasked with executing the company’s refinery expansion and commissioning strategy. He will also assist in qualifying the Electra Battery Metal’s cobalt sulfate product for inclusion in Western automaker electric vehicle batteries.

Before joining Electra Battery Materials, Dr. Puvvada was employed with Northern Sun Mining. Dr. Puvvada oversaw all aspects of feed evaluation, metallurgical processing, lab supervision and project development at Northern Sun Mining. He previously spent several years as a metallurgist at the Peko Mine in Australia where he tested, developed and piloted for the recovery of base and precious metals. Dr. Puvvada has also worked with some of the world’s leading metallurgical and engineering firms, including SNC Lavalin, Tetra Tech, Ortech and SGS. Dr. Puvvada holds a Bachelor’s Degree in Mineral Processing from Andhra University in India and a Ph.D. in Extractive Metallurgy from the University of New South Wales in Australia.

Electra signs Battery Recycling and Cobalt Supply Agreement with Marubeni

Electra signs Battery Recycling and Cobalt Supply Agreement with Marubeni

Electra Battery Materials Corporation (TSXV: ELBM) (OTCQX: ELBMF) ("Electra") is pleased to announce that it has signed a battery recycling and cobalt sulfate supply agreement with Japanese conglomerate Marubeni Corporation ("Marubeni").

Keep reading... Show less

Q4 2021 Results Investor Call and Change of Address

(TheNewswire)

Jervois Global Limited

Australia TheNewswire - 19 January 2022 - Jervois Global Limited (" Jervois " or the " Company ") (ASX:JRV) (TSXV:JRV) (OTCQX:JRVMF) advises that its Q4 2021 Quarterly Results and Investor Call will be held on Monday, 31 January at 0900 Australian Eastern Daylight Standard Time (" AEDT ").

Keep reading... Show less
Gravity Pilot Plant Installed at Canada Silver Cobalt's Temiskaming Testing Labs for High-Grade Silver Tailings Testing

Gravity Pilot Plant Installed at Canada Silver Cobalt's Temiskaming Testing Labs for High-Grade Silver Tailings Testing

(TheNewswire)

Canada Silver Cobalt Works Inc.

The installation of the gravity pilot plant at Temiskaming Testing Labs will be commissioned to optimize plant performance. It is designed to process high-grade stamp mill tailings and waste rock into concentrate feed for the Re-2Ox process .

Keep reading... Show less

Sherritt Announces 2021 Production Results and Guidance for 2022

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation ("Sherritt") (TSX:S), a world leader in the mining and hydrometallurgical refining of nickel and cobalt from lateritic ores, today announced production results for the fourth quarter and year ended December 31, 2021, and provided guidance for expected production, unit costs and spending on capital in 2022.

Keep reading... Show less

OTC Markets Group Welcomes Jervois Global Limited to OTCQX

OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for over 11,000 U.S. and global securities, today announced Jervois Global Limited (ASX: JRV; TSX-V: JRV; OTCQX: JRVMF), a leading cobalt minerals, metals and chemicals company, has qualified to trade on the OTCQX® Best Market. Jervois Global Limited upgraded to OTCQX from the Pink® market.

Jervois Global Limited begins trading today on OTCQX under the symbol "JRVMF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

Keep reading... Show less

Latest Press Releases

Related News

×