April 7th, 2022, VANCOUVER, B.C. Green Battery Minerals Inc. (“Green Battery” or the “Company”) (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC: GBMIF) is pleased to provide an update for the Berkwood Graphite Project Drill Program located in Northern Quebec, Canada.
The company is pleased to announce that the 5th drill program at the Berkwood Graphite Project is currently underway and is expected to conclude in the coming weeks.
The first phase of this Program commenced with drilling 12 holes for 998m at the never before drilled Zone 6 where previous work identified graphite exposure coincident with an EM Anomaly at surface. Six of the holes intercepted graphite mineralization and assay results are pending. The success of the program will translate into additional planning for drilling of zone 6 with favourable weather to better manage budget for the work.
The active drilling program is currently conducting a program of resource infill and expansion drilling at Zone 1. Three holes have been completed for a total of 249 meters to date. Drilling is scheduled to continue contingent upon seasonal weather and budgetary allowances.
The program has been punctuated by inclement weather, road repairs along the site access route, and mechanical issues which have been protracted due to industry-wide supply chain issues. The team has worked diligently to optimize the budget through the winter season with an emphasis on collecting valuable data to support Zone 6 exploration, and further development at Zone 1 to support an updated resource estimate.
Tom Yingling, President and CEO states, “We are very pleased to announce that our maiden drill program on Zone 6 has confirmed the presence of Graphite in numerous holes. This is a whole new graphitic body located only a short distance away from our existing resource located at Zone 1. Once the 3D model has been completed for Zone 6 and pinpointed future drill locations the Company plans to return to Zone 6 to continue drilling.”
“The Company is also pleased to announce that we are currently drilling on Zone 1. Zone 1 has a current NI 43-101 resource estimate, and the current drill program is designed to add to this resource by completing infill and resource expansion drilling. During the previous 4 drill programs completed at Zone 1 the Company has only drilled about 20% of the geophysical anomaly. To date every hole drilled into this anomaly has returned excellent graphite grades which average 17%.”
“The Company is very fortunate, compared to its peers, to not only have high average grade graphite and you can literally drive a truck and park it on top of the outcropping graphite as the infrastructure of roads is outstanding.”
Figure 1: Drill rig on site at hole 1 at the Zone 6 discovery zone.
Figure 2: Overview of the Zone 1 and Zone 6 Deposits and proximity to the adjacent development and infrastructure.
Figure 3: Perspective view facing north of the Zone 6 exploration target, Zone 6 Resource, and Mason Graphite Project.
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.
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.
President, CEO & Director
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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.