GEM:CC - Green Battery Minerals Completes Discovery Drill Program at Zone 6 and Commences Drilling on Zone 1
(TheNewswire)
April 7 th , 2022 – TheNewswire - VANCOUVER, B.C. - Green Battery MineralsInc. (“Green Battery” or the “Company”) (TSXV:GEM ) , ( FSE:BK2P ) , ( WKN:A2QENP ) ( OTC:GBMIF) ispleased to provide an update for the Berkwood Graphite Project DrillProgram located in Northern Quebec, Canada.
The company is pleased to announce that the 5th drill program at theBerkwood Graphite Project is currently underway and is expected toconclude in the coming weeks.
The first phase of this Program commenced with drilling 12 holes for998m at the never before drilled Zone 6 where previous work identifiedgraphite exposure coincident with an EM Anomaly at surface. Six ofthe holes intercepted graphite mineralization and assay results arepending. The success of the program will translate into additionalplanning for drilling of zone 6 with favourable weather to bettermanage budget for the work.
The active drilling program is currently conducting a program ofresource infill and expansion drilling at Zone 1. Three holes havebeen completed for a total of 249 meters to date. Drilling isscheduled to continue contingent upon seasonal weather and budgetaryallowances.
The program has been punctuated by inclement weather, road repairsalong the site access route, and mechanical issues which have beenprotracted due to industry-wide supply chain issues. The team hasworked diligently to optimize the budget through the winter seasonwith an emphasis on collecting valuable data to support Zone 6exploration, and further development at Zone 1 to support an updatedresource estimate.
Tom Yingling, President and CEO states, “ We are very pleased to announce that ourmaiden drill program on Zone 6 has confirmed the presence of Graphitein numerous holes. This is a whole new graphitic body located only ashort distance away from our existing resource located at Zone 1. Oncethe 3D model has been completed for Zone 6 and pinpointed future drilllocations the Company plans to return to Zone 6 to continuedrilling.”
“The Company is also pleased toannounce that we are currently drilling on Zone 1. Zone 1 has acurrent NI 43-101 resource estimate, and the current drill program isdesigned to add to this resource by completing infill and resourceexpansion drilling. During the previous 4 drill programs completedat Zone 1 the Company has only drilled about 20% of the geophysicalanomaly. To date every hole drilled into this anomaly has returnedexcellent graphite grades which average 17%.”
“The Company is very fortunate,compared to its peers, to not only have high average grade graphiteand you can literally drive a truck and park it on top of theoutcropping graphite as the infrastructure of roads isoutstanding.”
Figure 1 : Drill rig on site at hole1 at the Zone 6 discovery zone.
Figure 2 : Overview of the Zone 1and Zone 6 Deposits and proximity to the adjacent development andinfrastructure.
Figure 3 : Perspective view facingnorth of the Zone 6 exploration target, Zone 6 Resource, and MasonGraphite Project.
Aboutthe Berkwood Graphite Project
The Berkwood Graphite Project is located within the jurisdiction ofQuebec, in the Manicouagan Regional County Municipality, three hoursdriving time from the city of Baie-Comeau. Easy access is provided viaa major secondary road and numerous tertiary and forest roads thattraverse the property.
The Zone 1 deposit lies 8 km southwest of Mason Graphite’s depositwhich is the subject of a current feasibility study. The Companybelieves its Zone 1 deposit and that of Mason share many similargeological characteristics with the Zone 1 deposit being one of thehighest-grade graphite deposits in the world.
The current mineral resource at the Berkwood Graphite Project includesin-pit constrained resource totalling 1,755,300 tonnes of indicatedresources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at16.39 % Cgr.
Table 1 : In-pit Resource at LacGueret South Project (rounded numbers)
The mineral resource estimates above are described in the technicalreport entitled, NI 43-101 Technical Report Mineral Resource Estimateon the Lac Gueret South Graphite Property, Quebec, Canada. With anEffective date of June 19 th 2019, dated June 30 th , 2019.
Qualified Person : Luke van derMeer (P.Geo) is a Qualified Person (“QP”) as defined by NationalInstrument 43-101 guidelines, and he has reviewed and approved thetechnical content of this news release.
About the Company: GreenBattery Minerals is managed by a team with over 150 years ofcollective experience with a proven track record of not just findingnumerous mines but building and operating them as well. The GreenBattery Minerals management team’s most recent success isdiscovering the Berkwood graphite deposit in Northern Québec. GreenBattery Minerals owns 100% of this asset and the Company’sshareholders will benefit from this asset as the demand for graphitefor electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals lnc.
‘Thomas Yingling‘
President, CEO & Director
FOR MORE INFORMATION, PLEASECONTACT:
or 1-604-343-7740
info@greenbatteryminerals.com www.greenbatteryminerals.com
Disclaimer for Forward-LookingInformation:
Certain statements in this documentwhich are not purely historical are forward-looking statements,including any statements regarding beliefs, plans, expectations orintentions regarding the future. Forward looking statements in thisnews release include that the Company will carry out the drill programdescribed in this news release, conduct the Offering and expend fundson Berkwood Graphite Project exploration. It is important to note thatthe Company’s actual business outcomes and exploration results coulddiffer materially from those in such forward-looking statements. Risksand uncertainties include that further permits may not be grantedtimely or at all; the mineral claims may prove to be unworthy offurther expenditure; there may not be an economic mineral resource;methods we thought would be effective may not prove to be in practiceor on our claims; economic, competitive, governmental, environmentaland technological factors may affect the Company’s operations,markets, products and prices; our specific plans and timing drilling,field work and other plans may change; we may not have access to or be able to develop anyminerals because of cost factors, type of terrain, or availability ofequipment and technology; and we may also not raise sufficient fundsto carry out our plans. Additional risk factors are discussed in thesection entitled “Risk Factors” in the Company’s ManagementDiscussion and Analysis for its recently completed fiscal period,which is available under Company’s SEDAR profile at www.sedar.com. No assurance can be given that any of the events anticipated by theforward-looking statements will occur or, if they do occur, whatbenefits the Company will obtain from them. These forward-lookingstatements reflect management’s current views and are based oncertain expectations, estimates and assumptions, which may prove to beincorrect. Except as required by law, we will not update theseforward-looking statement risk factors.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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