VANCOUVER, BRITISH COLUMBIA – Vancouver, British Columbia, | May 4th, 2023 – Green Battery Minerals Inc. ("GEM" or the "Company") (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC: GBMIF) is pleased to announce it has optioned the “Jupiter Lithium Property” located (175 km) southeast of Radisson, Quebec, and approximately 25km from the Eleonore Mine Airstrip.
Tom Yingling, President and CEO of Green Battery, states, “This is an exciting move aimed at reducing supply shortages within the North American EV battery space. Expanding our exploration activities to include lithium, one of the most critical elements in a Lithium-ion battery (“LiB”), is a natural extension of our current activities in graphite. This move is also made to secure our own supply of lithium as we progress towards developing the next generation of graphene-based LiBs. These LiBs show great promise compared to regular LiBs, including higher capacity, shorter charging cycles, greater longevity, as well as reduced size and lower weight.”
Mr. Yingling continued, “The Jupiter property is literally surrounded by some of the biggest lithium deposits in North America. The fact that we have up to 33 outcropping pegmatites, with up to 315 ppm lithium sampled on the adjacent property to these pegmatites, gives us a valid reason to be excited. These pegmatites have never been sampled for lithium or REE’s and we look forward to proceeding with an aggressive summer exploration program. Together with the work already done at our graphite projects, GEM is positioned exceptionally well to capitalize on the enormous opportunity created by the EV revolution”
The Jupiter Property
The Jupiter Property was optioned to explore for Lithium (LCT) Pegmatites, and Rare Earth Elements (“REE”). The property is an early-stage exploration opportunity which comprises a total of 122 Quebec mineral exploration claims which amount to a total of 6406 hectares. Up to 33 pegmatite occurrences have been identified by government mapping completed over the property. Rock samples collected adjacent to the property returned up to 315ppm lithium. These claims are strategically located within the James Bay lithium prospectivity area within which are the Nemaska Lithium, James Bay Lithium and Rose Critical Elements deposits. The Jupiter Property fulfills the Companies goal of providing additional battery elements that go into Lithium-Ion batteries.
Property Highlights
- The Jupiter property is located within the La Grande geological sub-province, near the boundary with the Opinaca Sub province the within a favourable host rock comprising “typically porphyritic and magnetic tonalite; with minor injections of pink pegmatite”.
- Up to 33 pegmatite occurrences have been identified by government mapping completed over the property. Rock samples collected adjacent to the property returned up to 315ppm lithium.
- The acquired claims are located over regionally elevated lake bottom sediment geochemical anomalism for Lithium, with values up to 100ppm along the down ice trend of the property.
- Float Plane and Helicopter accessible, approximately 175 km south of Radisson, and 25 km southwest of the Eleonore Mine and Airstrip. The northern infrastructure corridor comprising ‘Rte de la Baie-James’ provincial highway and three Power transmission lines is located approximately 35 – 50km east of the property.
Figure 1: Jupiter Property Geology and mineral showings and mapped outcrop. Figure 2 Jupiter Property location and surrounding claims disposition.
Figure 2: Location of the Jupiter Project in relation to other lithium deposits and projects in Quebec
Transaction Terms:
In consideration for optioning the Jupiter Property, the Company has agreed to pay the vendor $50,000 within 5 days of signing and an additional $250,000 before October 21, 2024. In addition to cash payments, the Optionee agrees to incur $100,000 of work expenditures by December 31, 2023 and an additional $500,000 of work expenditures by October 21, 2024. The Optionor will retain a 2% NSR, 1% of which can be reduced for $1,500,000 any time prior to commercial production. The terms of the agreement are subject to the approval of the TSX-V.
Green Battery Metal Critical Minerals Property Portfolio:
Berkwood Graphite Project – Quebec. Graphite Project
Jupiter – Quebec. Lithium Pegmatite (LCT, REE) prospect
Stallion – British Columbia. Copper Prophyry, Epithermal Au+Ag prospect
Boudrias – Quebec. Nickel Copper (PGE) prospect
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:
Qualified Person: Luke van der Meer (P.Geo) is a consultant to the company, is a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines – Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed the technical information of this news release. Historical information contained in this news release is derived from previous workers Assessment Reports and has not been field verified.
QAQC Comments / References:
The historical sample results described above are derived from public domain datasets freely available online at SIGÉOM. https://sigeom.mines.gouv.qc.ca/signet/classes/I1108_afchCarteIntr?l=A
- James Bay Lithium Project Feasibility Study and Maiden Ore Reserve, December 2021 filed by Allkem on SEDAR on January 11, 2022
- Rose Lithium-Tantalum Project Feasibility Study NI 43-101 Technical Report filed by Critical Elements on SEDAR on July 27, 2022
- Report on the Estimate to Complete for the Whabouchi Lithium Mine and Shawinigan Electrochemical Plant Nemaska Project, May 31, 2019 filed by Nemaska on SEDAR on August 9, 2019
- Positive Authier Definitive Feasibility Study Reaffirms Potential of Sustainable New Lithium Mine, ASX Announcement on September 24, 2018
- Sayona Acquiring Moblan Project in Boost for Quebec Lithium Base, ASX Announcement on September 30, 2021
- Positive Pre-Feasibility Study Enhances NAL Value, ASX Announcement on May 23, 2022
About Green Battery Minerals
Green Battery Minerals is managed by a team with over 150 years of collective experience. The team has a highly successful track record of not just finding numerous viable resources, but also developing these and operating the resulting mines. The Company’s most recent success is discovering the Berkwood graphite deposit in Northern Québec, a mineral in high demand, driven largely by the rapid electrification of vehicles. 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.
