(TheNewswire)
VANCOUVER, BRITISH COLUMBIA – TheNewswire - September 29, 2022 – Bathurst MetalsCorp. ( the “Company”) (TSXV:BMV) (OTC:BMVVF) announces it has been awarded the required waterpermit for diamond drilling on the Turner Lake Project.
The water permit is good for three (3) years and arequirement for surface diamond drilling.
The five (5) year drill permit application is nearingcompletion and will be finalized once the required reclamation bondpayment has been received.
About the Turner Lake Project
The Turner Lake project area covers 7,071.97 hectares,which also contains the Main, East and TED gold zones and the NickelKnob, massive sulphide mineral deposits.
The Main and East gold zones are hosted along a classicArchean age iron/magnesium tholeiitic contact with gold mineralizationoccurring mainly within a crackle fractured greywacke.
The TED showing occurs in an Archean Age ironformations hosting several +20 gram/tonne gold values in grab samplesin area that has not been drill tested.
Visible gold is common in the Main and TED goldzones.
The East gold zone is approximately two kilometres eastof the Main gold zone along the same strike. Grab rock samples havereturned up to 31.0 grams per tonne gold and the zone has not beendrill tested.
Discovered in the 1960s, the Main gold zone has onlyhad 22 diamond drill holes test across the contact from ChevronMinerals in 1986 to 1989 and Northrock Resources Inc. in 2008/2009.Historical diamond drilling results include from Chevron Minerals:
* 28.00 g/t Au over4.75 metres;
* 12.86 g/t Au over8.87 metres;
* 15.20 g/t Au over4.00 metres;
* 10.00 g/t Au over4.00 metres.
Northrock Resources diamond drilling resultsincluded:
* 13.20 g/t Au over13.00 metres;
* 22.54 g/t Au over12.00 metres;
* 16.20 g/t Au over 8.50 metres.
* All lengths presented are core lengths.
The Nickel Knob massive sulphide deposit isapproximately 1.9 kilometres south of the Main gold zone and has hadonly limited drill testing consisting of five diamond drill holes. Allholes encountered massive sulphides with the best intercept recordedbeing 1.81 per cent copper, 1.64 per cent nickel over a 14.0-metrecore length.
Harold Forzley, chief executive officer and director ofBathurst Metals, commented: " Based on our previous fieldworkresults the company is preparing to commence preparations on the 2023extensive diamond drilling campaign on our flagship Turner Lake Mainzone. Bathurst Metals has a strong 34,690-hectare portfolio of 100-per-cent-owned properties inNunavut employing experienced geotechnical staff familiar withNorthwestern Nunavut."
Qualified person
Lorne Warner, PGeo, is a qualified person as defined byNational Instrument 43-101 and has reviewed and approved thescientific and technical disclosure in this news release.
Onbehalf of the Board of Directors
Bathurst Metals Corp.
For more information contact Harold Forzley, CEO
Neither TSX Venture Exchange nor its regulationservices provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Forward Looking Statements
Certain of the statements made and informationcontained herein may contain forward- looking information within themeaning of applicable Canadian securities laws. Forward-lookinginformation includes, but is not limited to, information concerningthe Company’s intentions with respect to the development of itsmineral properties. Forward-looking information is based on the views,opinions, intentions and estimates of management at the date theinformation is made, and is based on a number of assumptions andsubject to a variety of risks and uncertainties and other factors thatcould cause actual events or results to differ materially from thoseanticipated or projected in the forward-looking information (includingthe actions of other parties who have agreed to do certain things andthe approval of certain regulatory bodies). Many of these assumptionsare based on factors and events that are not within the control of theCompany and there is no assurance they will prove to be correct. Therecan be no assurance that forward-looking information will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such information. The Company undertakes noobligation to update forward-looking information if circumstances ormanagement’s estimates or opinions should change except as requiredby applicable securities laws, or to comment on analyses, expectationsor statements made by third parties in respect of the Company, itsfinancial or operating results or its securities. The reader iscautioned not to place undue reliance on forward-looking information.
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