(TheNewswire)
Vancouver, British Columbia – TheNewswire - October 30, 2023 – Bathurst Metal Corp. (TSXV:BMV ) ( OTC:BMVVF) (“ Bathurst ” or the “Company”) is pleased to announcethe Company has received final assay results from the summer 2023field exploration work on the copper/silver/gold/cobalt 100% owned,Gela Lake property in central Nunavut. The workfocused on geological mapping and rock and soil sampling along theBathurst Fault to test for the extension of mineralization underneathcover to the west of a large Monzogabbro intrusive where themonzogabbro contacts Archean metasediments and volcanics. The Gela Lake property is located in a well-establishedmining area with significant producers and lies in proximity to ourdrill ready Turner Lake property.
Greg Bronson, P.Geo, VP Exploration and director ofBathurst Metals commented “ Our sampling and mapping work focused on ground over the regionalBathurst fault that passes through Archean metasediments and volcanicsand on the Gela Lake property, is adjacent to a large monzogabbrointrusion. This summer’s sampling work continued to find high copperand gold values coincident with high bismuth values suggesting thepresence of a strongly mineralized hydrothermal system, likely relatedto the monzogabbro intrusive. Additionally, the occurrence of gold andcopper with bismuth implies that structural traps for mineralizationare likely associated with the Bathurst Fault. Our work continues toimprove our understanding of the property geology and build on theexploration model for this very prospective property”.
Highlights:
- 10rock grab samples were collected mainly from quartz+/- carbonate,bearing, sub-vertical structures with widths in excess of 4 metres insome areas and trending over 300 metres.
- Visiblecopper mineralization in the form of chalcopyrite and minor bornitewas noted in most samples with rare cobalt blooms.
- Significant gold concentrations were alsoobtained in some samples with a moderate correlation to silver.
- High bismuth concentrations also show apositive correlation with copper and silver.
Table #1 provides highlights of the assay results for silver, gold,bismuth cobalt, and copper.
Table 1. 2023 Gela Rock Samples | |||||
Sample | Ag ppm | Au ppm | Bi ppm | Co ppm | Cu % |
H619351 | 1.36 | 2.05 | 597 | 32.8 | 4.5 |
H619352 | 1.09 | 0.3 | 206 | 10 | 2.1 |
H619353 | 1.58 | 0.11 | 28 | 25.6 | 1.0 |
H619354 | 28.2 | 9.79 | 169 | 901 | 0.9 |
H619355 | 11.65 | 3.1 | 88 | 1135 | 0.04 |
H619356 | 2.3 | 0.11 | 14 | 117 | 0.006 |
H619357 | 8.85 | 0.91 | 15 | 62 | 0.005 |
H619358 | 134 | <0.02 | 442 | 64.3 | 12.1 |
H619359 | 0.13 | <0.02 | 3 | 17.8 | 0.3 |
80 soil samples were collected along the eastern flankof the Monzogabbro intrusive body where the regional Bathurst Fault isprojected to occur. The soil samples were collected at 25 meterintervals and at various depths based on the soil profiles.
Soil sample assay results confirmed the soil profilescan be used to determine areas of interest, as outcrop is limited awayfrom the intrusive body and along the projected Bathurst Fault trend. The occurrence of Au + Bi together oftenindicates a structurally controlled setting and implicates theBathurst Fault as a possible conduit and possible trap for mineralizedfluids to migrate to the surface. Along with gold and bismuth, notableconcentrations of copper were also found in both soils and rocksamples. Additionally, higher concentrations of cobalt were also notedin two rock samples and were also coincident with elevated gold andsilver concentrations. The mineralized trend can be traced for over2km in a north-south direction directly overlying the surface trace ofthe Bathurst Fault. The soil sampling found coincidentgold/silver/copper/bismuth mineralization (Table #2below).
Table 2. 2023 Gela Soil Samples | ||||
Sample | Ag ppm | Au ppm | Bi ppm | Cu ppm |
G0580501 | 0.13 | 0.06 | 20.2 | 2,880 |
G0580515 | 0.19 | 0.22 | 120 | 1,175 |
G0580516 | 1.09 | 0.15 | 149 | 1,735 |
G0580521 | 1.00 | 0.72 | 264 | 1,625 |
G0580522 | 2.69 | 0.56 | 346 | 3,960 |
G0580528 | 0.21 | 0.19 | 16.8 | 2,580 |
G0580529 | 0.12 | 0.02 | 7.31 | 3,580 |
G0580530 | 0.08 | 0.01 | 4.47 | 1,305 |
G0580531 | 0.08 | 0.01 | 2.98 | 1550 |
G0580539 | 0.25 | 0.33 | 28.5 | 461 |
Quality Assurance/Quality ControlRock and Soil Samples The above soil sampleswere delivered by the Company geologist to the ALS prep facility inYellowknife, NWT. Prepared sample pulps were shipped via bondedcarrier to ALS Labs in North Vancouver, British Columbia for analyses.All samples are analyzed for gold, silver and 50 other elements usingALS Method ME-MS41 which uses an aqua regia digestion followed byICP-AES or AAS finish. Silver in excess of 100g/t is determined by ALSmethod Ag-OG46 which is an aqua regia digestion followed by ICP-AES orAAS finish performed on a 0.5g sample. Copper in excess of 10,000g/tis determined by ALS method Cu-OG46 using an aqua regia digestionfollowed by ICP-AES or AAS finish. Bathurst Metals Corp. is reliant onALS Labs in North Vancouver, British Columbia for its QA/QC protocolas these are preliminary samples and limited in number.
Greg Bronson, P.Geo, VP Exploration, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release. Mr. Bronson is notindependent of the Company.
On behalf of the Board of Directors
“Harold Forzley” CEO Bathurst M etals Corp.
For more information contact Harold Forzley, CEO info@bathurstmetalscorp.com
Neither 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 release.
Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.
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