VANCOUVER, BRITISH COLUMBIA – Vancouver, British Columbia, | Nov. 4th , 2022 – Green Battery Minerals Inc. (the “Company”) (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC: GBMIF) is very pleased to announce it has acquired the “Boudrias Property” located (50 km) northeast of Baie Comeau, Quebec. The Boudrias Property was acquired to explore for Nickel, Copper and Cobalt. The property is an early-stage exploration opportunity which comprises a total of 7 Quebec mineral exploration claims which amount to a total of 392.1 hectares. These claims are strategically close to the Companies Berkwood graphite project and fulfills Green Battery Minerals goal of providing additional battery elements that go into Lithium-Ion batteries.
Property Highlights:
- Road Accessible, approximately 50km from Baie Comeau northeast along highway 138 which passes through the property. Power transmission lines also cross the property and local site access is gained by established access trails.
- The Boudrais property is located within the Grenville geological sub-province, within a favourable host rock of the Bourdon paragneiss Complex. The acquired claims are located over regionally elevated geochemical signature for Cu+Ni+Co.
- Two known Cu-Ni showings of probable magmatic origin are known on the property: these are coincident with regional scale linear structural features with intersecting secondary structures at the loci of mineralization. Interpreted magnetic signatures with coinciding with topographic features suggest a deep-seated origin for the structures.
Figure 1: Location of the Boudrias Project in relation Green Battery Minerals Berkwood Graphite Project, near Baie-Comeeau, Quebec.
Deal Terms:
In consideration for the Boudrias Properties, the Company has agreed to issue to the property vendor a warrant to purchase up to 2,000,000 common shares, exercisable at the price of $0.06 per share for three years. The agreement was signed November 2nd, 2022, it is an arm’s length transaction and there are no finders’ fees payable. The issuance of the warrant is subject to regulatory approval.
Tom Yingling, President and CEO of Green Battery, states, “I am pleased to announce the acquisition of the Boudrias Property. With sample results as high as 1.93% Copper and 0.60 % Nickel we are very encouraged. Although historically the Boudrias Property was assayed for Copper and Nickel it was not properly assayed for Cobalt or Platinum Group Elements (PGEs).
We are encouraged by the initial perspectivity identified at the Boudrias Property, with coincidental mineralization, regional geochemical anomalism, and encouraging indications of structural control. The presence of anomalous Cobalt within mafic intrusive host rocks proximal to the project is further encouraging, and our expectation is that with systematic exploration the source of the local Cu+Ni+Co lake sediment anomalism may be uncovered.
Of key importance is also the fact that these 100 % owned claims are in Quebec, are road accessible, and located near our Berkwood Graphite Project. We continue to develop our flagship property, the Berkwood Graphite Project, and these new claims are an excellent addition and are within the companies mandate of exploring and developing a source of environmentally and ESG friendly battery minerals.”
About the Boudrias Project
- Target Commodities: Copper, Cobalt, Nickel
- Target Deposit Style: Magmatic Sulphide
- The Boudrias property is located within the Grenville geological sub-province, within favourable host rocks of the Bourdon paragneiss Complex. The region is relatively underexplored with poorly understood geology.
- The Property contains favourable relatively small intrusions of mafic or ultrabasic host rocks commonly ranging from gabbro, gabbronorite to pyroxenite to anorthosite.
- The acquired claims are located over regionally elevated lake sediment geochemical anomalism for Cu+Ni+Co. Additionally recent regional rock sampling of prospective mafic intrusive in the area identifies coincident Cu+Ni+Co anomalism proximal to the project.
- Two known Cu-Ni showings of probable magmatic origin are known on the property: Boudrias 1 and Boudrias 5 are described as disseminated (2-5%) pentlandite-pyrrhotite with chalcopyrite hosted in metagabbro’s and gabbro’s. Historical rock sample were not analyzed for Co or PGE’s, results reported include:
- Bloc Boudrias 1:
0.21 % Cu, and 0.63 % Ni
0.13 % Cu and 0.60 % Ni - Bloc Boudrias 5:
1.93 % Cu, and 0.60 % Ni
0.22 % Cu, and 0.56 % Ni
0.38 % Cu, and 0.30 % Ni
- Bloc Boudrias 1:
- Mineral occurrences are coincident with regional scale linear structural features with intersecting secondary structures at the loci of mineralization. Interpreted magnetic signatures with coinciding with topographic features suggest a deep-seated origin for the structures.
- Limited previous exploration includes rock and soil sampling, trenching and stripping, and ground magnetics.
QAQC Comments: the historical sample results described above are derived from public domain data and reports from 1972, the results have not been verified. Source: Pichette, M., 1972; Canton des Monts-Compte Saquenay. SOQUEM Project 10-703. SIGEOM Report Numbers GM28499.
About the Berkwood Graphite Project
The Berkwood Graphite Project is located within the jurisdiction of Quebec, in the Manicouagan Regional County Municipality, three hours driving time from the city of Baie-Comeau. Easy access is provided via a major secondary road and numerous tertiary and forest roads that traverse the property.
The Zone 1 deposit lies 8 km southwest of Mason Graphite’s deposit which is the subject of a current feasibility study. The Company believes its Zone 1 deposit and that of Mason share many similar geological characteristics with the Zone 1 deposit being one of the highest-grade graphite deposits in the world.
The current mineral resource at the Berkwood Graphite Project includes in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr.
Table 1: In-pit Resource at Lac Gueret South Project (rounded numbers)
The mineral resource estimates above are described in the technical report entitled, NI 43-101 Technical Report Mineral Resource Estimate on the Lac Gueret South Graphite Property, Quebec, Canada. With an Effective date of June 19th, 2019, dated June 30th, 2019, by Edward Lyons, PGeo., Florent Baril, ing., and Claude Duplessis, ing. Link to Report:
https://www.greenbatteryminerals.com/wp-content/uploads/ReportFINAL_compressed.pdf
Qualified Person: Luke van der Meer (P.Geo) is a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release.
About the Company: Green Battery Minerals is managed by a team with over 150 years of collective experience with a proven track record of not just finding numerous mines but building and operating them as well. The Green Battery Minerals management team’s most recent success is discovering the Berkwood graphite deposit in Northern Québec. Green Battery Minerals owns 100% of this asset and the Company’s shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals lnc.
‘Thomas Yingling’
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
or 1-604-343-7740
info@greenbatteryminerals.com www.greenbatteryminerals.com
Disclaimer for Forward-Looking Information:
Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that the Company will carry out the drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and 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 any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion 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 the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.
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.
